While most clients pay their property taxes through an escrow with their mortgage, or just by paying directly, Revolution can also pay them from your account with us if you'd prefer.
For most clients, the best way to pay property taxes is either by paying directly, or by paying through an escrow account that is setup with their mortgage payments. This ensures that your payments are getting made even if there is no rent income due to vacancy, late paying tenant, etc.
That said, if you want Revolution to pay your property taxes from your account with us, we can certainly do that! Here are some things to keep in mind:
- First, you will need to submit your property tax bill using this form. Please be sure to submit this as soon as you receive it so that payment isn't made late.
- We will need to have the money in your account with us in order to pay the bill. This means either enough money from the rent income, or you will need to deposit money by an Owner Contribution in your Portal to cover it. If the money isn't in your account with us, then we cannot pay the bill. The Real Estate Commission does not allow us to let an escrow account go negative, so the funds are required to be there before we can issue payment.
- We cannot guarantee on-time payment if the bill is received very close to the due date, or if the funds are not in your account with us. Revolution cannot be responsible for any interest or late fees charged by the tax collector.
- Revolution charges a $25 Property Tax Processing Fee for this service. This covers our costs of payment and staff time to process this non-standard request that is not part of our normal property management services.
Again, to start the process, just submit this form with your tax bill and we will get it going!