Payment of rent into your account

@pinewood bank details aren't included with the REIV authorities. Agent should tell you when to expect it though.

I do disbursements daily, so the owner receives the funds within 2 business days (eg. tenant pays on the 1st, I receive it the 2nd, owner gets it the 3rd). If you want it at a particular time though (end of month, mid month) just ask, they should be able to accommodate.

 

Thanks @Lil Skater . Agent is currently doing the same, as soon as payment is made they are processing it to my account so I'm happy with that.

 

I prefer rent disbursed to me as soon as possible. Depending on the financial set up you're using, it's better to have rent sitting in your offset account or loan reducing your interest payments than sitting in an agent's trust account. Particularly so if you have multiple properties and are expecting a reasonable amount of rent. It will be thousands of dollars difference over the life of the loan(s).

We disburse rents mid and end of month but your agent should be flexible to your needs as an investor.