An owner statement should answer three questions without a phone call: what came in, what went out, and what's on its way to you. If you can't answer those from your current manager's statement, that's not a you problem.
The lines that matter
Statements differ in layout, but the anatomy is consistent:
- Rent collected, what the resident actually paid this period, not what was due
- Management fee, the agreed percentage of collected rent
- Repairs and maintenance, each item, ideally with the invoice attached or available
- Owner disbursement, what was sent to your account, and when
- Reserve balance, funds held for upcoming expenses, if your agreement uses one
What deserves a second look
Repair lines without invoices. Fees you don't recognize from your management agreement. "Miscellaneous" anything. A rent number that doesn't match the lease without an explanation on the statement. None of these are necessarily wrong, but all of them are questions a good manager expects and answers plainly.
At year end, the monthly statements should roll up into an annual summary of rents, repairs, and disbursements. Handed to your tax preparer, it should just work. If January means reconstructing the year from bank deposits, the reporting failed you.
This article is general information for rental owners, not legal or tax advice. Laws and market conditions change, for advice about your specific situation, consult a licensed attorney or tax professional.
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