When a property needs a new furnace, replacement hot water tank, leak repair etc. - anything above the maintenance reserves funds we have on hand for any given property (refer to PMA) - we need to send a maintenance funding request to ensure we have the money to pay the vendor once the work is completed. You will receive an email from the maintenance department requesting the amount of funds needed to complete whatever repair is at hand, as well as your seal of approval.

To ensure we do not turn around and disburse this money right back to you, we have a process in place to withhold the money you sent in until we pay the bill and send you anything above that amount.

Ex. You send us $1,000 for some shingle and roof repairs on January 1st. Your tenant pays rent on time on the 1st as well. The 10th of the month comes (disbursement day!), and it’s time for us to disburse your passive income. It would be silly for us to send that amount back to you, we’d deduct $1,000 from your positive cash balance and send you the remainder. Once the bill is paid, it will be available for your to view on your owner portal, signaling completion of the job.