What Accounting Information Do
You Provide for My Property?
We use TenantCloud to manage our rental properties. Each homeowner receives a quarterly owner statement via email. It details all financial activity for that quarter. This includes rent received, maintenance expenses, management fees, and the homeowner’s distribution.
Homeowner distributions are typically processed between the 12th and 14th of each month. Once completed, we notify homeowners via email. We highlight any property repairs or maintenance that affected their distribution.
At the end of the year, upon request, we provide a full-year owner statement. This helps homeowners easily share all rental property financial information with their tax professional. It’s important to note that our accounting does not include costs like mortgage payments, HOA dues, or utilities paid directly by homeowners.
Lastly, we send each homeowner a Form 1099-MISC, which shows the rental income they received. This form is also submitted to the IRS and the State of Maryland.