Rent Collection and Disbursement

• Rent Collection: Rents are collected on the first of every month. If a tenant is late the appropriate notices will be sent to the occupying tenant. Reasonable efforts will be made to accommodate those with legitimate problems, if they cannot meet the deadline.
• Payments: From collected rents LDS Property Management will pay all mutually agreed upon expenses such as; mortgage payments, HOA dues, tax payments, insurance payments etc.
• Rent Roll Accounting: Owner funds and/or statements with original receipts attached are sent to the owner on an agreed upon day of each month, at which time we will also provide a Rent Roll Accounting Statement.
• Deposits: We will deposit rents into a separate Trust Account, to be paid out to the property owner on a mutually agreed upon date.