Prop Mgmnt comp - Holding my money for a month

[Mike Levins]

I have a question about property management companies because this came up with the company I use down in Tampa, FL.  My PM has done this for quite a while but I've only challenged them on it recently. 

When my tenant pays their rent on lets say the first of the month my PM holds that money pays any necessary HOA fees and then 30 days later pays me my money. With my most recent tenant moving in a few days ago I brought this up asking if we can come to an arrangement to make my PMT earlier. The response was that they can deposit it by the 15th at the earliest to allow the check to clear. This seems some what reasonable but then he added the comment that any minor repairs will have to be paid by me.

Yes, in the past any minor repairs albeit infrequent would be taken care of, but I can't think of the last time a repair was necessary. 

Am I just being a jerk wanting my money sooner?  Please tell me if I am and I'll drop this.

Thanks,

Mike

[Jeremy Gunn]

We offer 2 options to our customers either wait till the end of the month for your owner draw or get paid as soon as the funds are cleared  and have a $200.00 min account balance.   To pay for any bills. 

If work is required we have a hard time getting owners to send money in a timely manner.  It adds a whole other step or 2 to the process.  If there is a minor repair that is needed we need the ability to act on it immediately and on the back end pay our vendor as soon as we receive the bill.