When does everyone get their rental check/wire??

[Kevin Chhorr]

I'm new to REI so this sound like a silly question. I was wonder when does your PM deposit the rent in your account? My PM get the checks from the tenant on the first and I receive my payment around the 15th(if its wired) or 19th of the month. Does this sound like a reasonable payment date? I don't want it wire because there are two charges, one from the PM and one from my bank. The total for the wire would be $40. I don't want another silly expense.

[Aaron Mazzrillo]

Sounds like you have an out of area or out of state rental. Just ask them to send you a check. No reason for a wire and the fees involved. Payment on the 10th or later is pretty standard from my experience. I don't even take wires from escrow regardless of the dollar amount. Not worth the cost unless I need the money ASAP for another deal. $40 is dinner at a decent restaurant. No reason to let the bank eat your dinner.