Principal Advisors will collect rent on the first day of each month through our online tenant portal. Our tenants are able to pay their rent by credit card, debit card, checking account, savings account, ACH transfers, and even Western Union or Money Order. Tenants also are encouraged to set up auto-pay to automatically drafts payments on a specific day each month.

Principal Advisors charges 5% late fees if rent is not paid by the 10th of each month. If rent continues to go unpaid after the initial penalty, then we will contact our tenants to address the issue and continue to charge penalties every two days until rent is collected.

Principal Advisors provides in-depth financial statements to our clients to accompany rent disbursements via direct deposit on, or before, the 15th of each month. These statements contain a “by property” P&L statement, as well as a “by unit” P&L statement for multi-tenant properties. Additionally, we will provide quarterly and yearly statements for tax purposes.

Principal Advisors inspects properties weekly and utilizes the expertise of our certified property managers to advise preventative maintenance (if needed) on a quarterly basis. Principal Advisors can also hire and work alongside vendors to maintain major property systems via routine service checks and keep clients updated with any new information.

Principal Advisors utilizes an online maintenance request system. Tenants can easily make a maintenance request online to alert us of an issue. We review lease agreements to determine which party is responsible for needed repairs and hire trusted vendors or use our in-house maintenance team. All the vendors we use to carry liability and workers compensation insurance.

Principal Advisors distributes property reports to all of our clients at the end of each quarter. These reports contain property updates which includes new tenants/leases, renewals, maintenance and repairs, suggested preventative maintenance, tenant rent roll, property improvements, and property manager notes.