Usually it is around 20th of each month. Our Brokerage looking after over 1000+ Properties, the accounting flow must have a schedule and system to set in place.
Between 1st to 5th, we will pull the rent from the tenant’s account, but sometimes if the 1st falls on a holiday or weekend, then Electronic Fund transfer won’t move the fund until the next following business day, ,and then it takes about 2 to 3 days to clear the fund. And if the tenant’s account bounced, then we will ask them to pay us, so this whole process could take up to the first 10 days of the month.
And between 10th to the 15th, we need to consolidate all the invoices of the trades or any outstanding bills to make sure they are paid,
Between 15 to 20th, the accounting will double check on the books and making sure all the income and expense are correct and that is why usually it is around 19th to 20th we disburse the rent to ALL THE OWNERS across the board. You will also receive an owner statement per month to review the income and expenses.