Would love this community's insight. Is it common practice for property managers to forward paid receipts to owners or not? My current property manager doesn't instead sending a monthly ledger with the month's payments (company name, pay date, amount) as well as monthly income/expense statement. My previous and only other management company did forward all paid bills, which I appreciated since I felt it gave me a certain degree of
oversight, i.e. confirm they are paying what they say they are paying.
Which is the common practice? To owners - would you request receipts or not? To property manager- would you feel an owner is overstepping or being burdensome?
Property Manager · Charlotte, NC · Member since 2012 · 135 posts · 156 votes
6y
Hello @Maria Teo. Have you asked your PM if they will send you any invoices? We have a $300 repair clause in our agreement which allows us to handle repairs below this limit without notifying the owner. However, we do our best to run each and every maintenance request by the owner first to let them know what is taking place and give them the option to handle it themselves. We use a management software that includes tenant and owner portals. When a tenant places a work order request, we can assign it and check a box that sends an email to the owner about the request. Additionally, when the invoices come in, we add the invoice to the property ledger, so the owner can download or view the invoice once it's paid. So we don't actually send the invoices to the owner, but they are aware we have done work and have the ability to view the invoices(maintenance, utility bills, leasing commissions, etc.) through the portal. If I were you, I would ask the PM if they would send you the invoices as they come in. Best of luck.
Hi @Steve Maginnis, When I first asked my new PM said they don't typically send out the receipts/invoices to owners, so I didn't press the issue yet. I've only been with them a few months and I didn't want to bombard them with special requests during the transition period. They use AppFolio, which I had thought would allow me to see what your software offers, but so far the owner portal doesn't offer much functionality. I wonder if they are just learning how to use it.
Thanks for the perspective and glad to know my request wouldn't be completely out of line.
@Maria Teo I get an invoice through their portal which lists any repairs. They then take the money out of my rent for that month. Any repairs over $500 require my permission first (unless it is an emergency)
Hello @Maria Teo. Have you asked your PM if they will send you any invoices? We have a $300 repair clause in our agreement which allows us to handle repairs below this limit without notifying the owner. However, we do our best to run each and every maintenance request by the owner first to let them know what is taking place and give them the option to handle it themselves. We use a management software that includes tenant and owner portals. When a tenant places a work order request, we can assign it and check a box that sends an email to the owner about the request. Additionally, when the invoices come in, we add the invoice to the property ledger, so the owner can download or view the invoice once it's paid. So we don't actually send the invoices to the owner, but they are aware we have done work and have the ability to view the invoices(maintenance, utility bills, leasing commissions, etc.) through the portal. If I were you, I would ask the PM if they would send you the invoices as they come in. Best of luck.
Hi @Steve Maginnis ! Which software are you using to send those invoices? I have been looking for something that does that.