Owner proceeds is a ClearNow feature that enables a property manager to directly deposit a portion of the rent collected to the owner’s bank account. After the property manager enrolls the tenant and owner, the property manager can designate a set amount or percentage of rent collected per tenant to be deposited into the property management company’s bank account for property management fees. The remaining amount collected will be deposited to the owner’s bank account. The fee for owner proceeds is $2 per tenant, and it is charged to the property manager.
Credits to the property manager and owner bank accounts occur on the same day – three banking days after the tenant’s debit day. With owner proceeds, property owners receive their funds faster and efficiently while property managers save time.