Q: When will I receive my monthly payment?
A: Owner draws are done on the 10th of the month. Even though the tenant pays at the beginning of every month, we need to allow time for payments to clear accounts and settle before that money can be passed on to you. There is a secondary owner draw done on the 25th of the month to catch any late payments made by tenants.
You will receive an email notification once the owner draw is initiated. It will post to your bank account in 3-5 business days.
Q: If my home is owned under an LLC, why do you need my social?
A: Because of new 2018 sales tax licensing laws, we need your social as a means of personal identification for your license. Without it, we are unable to successfully obtain your license and fully coordinate sales tax payments on your behalf. Your license will still be linked to your Tax ID, this will not have any influence on how you file your personal taxes.
Q: Do I have to pay the “unpaid” bills in my portal?
A: The majority of the time, no you do not. This is why we have your portfolio minimum. It allows us to pay operational bills (i.e. repairs) on your behalf if it is under that minimum. Should we require you to contribute to your account, we will reach out to you directly.
Please be aware that unpaid bills will show up on one statement, then also show up on the next statement once they are paid.
Q: How do I make a financial contribution?
A: When you log in to your online owner portal, you will see a “Statements” tab – one of the blue buttons at the top of the page. Once you are in your statements tab, you will see a link on the right-hand side that says “Make a Contribution online”. After following that link you will be prompted to enter the amount of money you wish to contribute from the bank account you already have established in the system. Click Save. We will be notified via an email when a contribution has been initiated by you.
Q: Why can’t I be the one to approve an applicant?
A: In order to protect you from a Fair Housing claim, Service Star Realty will take on the responsibility of verifying the eligibility of an applicant. We work hard to put the right tenant in your home, and with our multipoint application checklist, we have an incredibly high success rate, with a very low eviction rate.
Although Service Star makes the final decision on tenants being placed into your property, we will listen to your suggestions and apply them. For instance, if you decide that you don’t want a tenant with a lower than 600 credit score, we will only approve a tenant with higher than 600 credit score.
Q: Where can I find a copy of my new tenant’s lease?
A: Whenever your new tenant moves in, a copy of their lease will be uploaded to your owner portal. You can find it under the “Documents” tab under the “Lease Documents” section. You should also receive an email notification when any documentation is uploaded to your portal.
Q: How do I access my year end statement?
A: On your portal, in the statements section, it will be down the list next to January’s statement for that year.
Q: Why does the Balance Summary on my portal not match my recent statement received?
A: The Balance Summary on your portal – under that statements tab – changes from day to day as items are received and paid.