As a final note, keep all receipts/invoices for the repairs.

Renter can deposit cash directly into our business account set up for this purpose; they can get payment set up on the online portal (we use Cozy) and then they have several options for how to pay; or we can email them a direct invoice for payment through Square, which will include a processing fee.

People want to discuss their investments as they happen, they want to be able to ask questions, run scenarios, ect ...without getting invoiced for your time each and every time they have an idea. 

Assuming you save the monthly reports which should include copies of invoices paid for the reported month, you have everything needed for your tax preparer.

My 2 cents is set aside 90 min/week to work on this part of your business/investment: invoices, tenant correspondence, leases, notices, education, networking, etc... a little bit goes a long way.

Enter a maintenance request, assign a vendor, attach a fake invoice.

Enter a maintenance request, assign a vendor, attach a fake invoice.

My thought would be to manage payments through a platform like Buildium or Doorloop and to distribute rents payments directly to the owners and then to invoice owners quarterly the fees that they can then pay to the brokerage.

Most others have a job site or service address, although sadly a lot handymen AND union trade people are terrible at getting the correct address on every invoice.

Repairs you're going to pay the invoice so you've already done 90% of the reporting add it to a spreadsheet.