Owner payments are processed every Thursday for all payments received from tenants the prior week. We have to pay on this schedule in order to ensure that the tenant payments have cleared the bank prior to us sending the money to you. This is a requirement of state law, because we have to make sure that the trust account never falls below the required balance, which could happen if we sent you the money and then the tenant's payment bounced. By waiting until the following Thursday after the payment has been received, we avoid this problem, as the payments should all clear by then.
To the best of our knowledge, this is the fastest and most frequent payment schedule from any medium or large property management company in our markets. It's one of the things that differentiates us from our competitors, and we are proud to get our clients their money as quickly as possible.