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Tips for Easier Tracking of Owner Disbursements

Tips for Easier Tracking of Owner Disbursements

Orlando is an exciting, vibrant city. With great weather, a fantastic job market, and a reasonable cost of living, it's no surprise that people love Orlando.

That also makes it a great place to have a rental property. But if you want to make the most out of your rental property, you need to understand how owner disbursements work - and how to track them.

Here's how you can understand and track your owner disbursements better.

What Are Real Estate Owner Disbursements?

A disbursement is a general term used for a fund transfer from one party's bank to another party's account. Owner disbursements are the earnings from your rental property. For rental property owners, a disbursement could be monthly or quarterly, depending on if you handle everything yourself or hire someone else to help with rental management.

A disbursement can be either positive or negative. A positive disbursement results in being credited. An account being debited results in a negative disbursement.

Understand Your Expenses

Disbursements are based on profit. Profit is the money left after expenses have been subtracted. For that reason, it's important to understand what expenses you are occurring from your property.

A few examples of rental expenses you may be able to deduct include repair costs, depreciation, and operating expenses such as fees charges for services such as landscaping and accounting.

Check out the IRS website for the full list of rental expenses that you can deduct. You may also want to talk to an accountant for additional help.

Once you have a good idea of what your regular, ongoing expenses are, then you can better estimate what your disbursements will be.

Keep Good Records

Make sure to keep good, thorough records of all expenses, as well as rental income. Along with supporting documents such as credit card receipts, bank statements, and leases, you should have a P&L or profit and loss statement for each property.

Make sure you have backups of every record too. In the event of an audit by the IRS, you will be grateful you had accurate record-keeping dating back several years.

Use Our Owner Portal

Our owner portal allows you to see a comprehensive report of both expense and income statements. Not only can you see proof of maintenance bill payments, but you can find proof of rent collection, as well as set up direct deposit to your bank account. You will also receive an annual owner summary, as well as tax statements and 1099s.

You can log in at any time to view your financial reports and you can download them for later viewing.

We Can Help Manage Your Orlando Property

Not only can we help you with regular reporting of owner disbursements via our online portal, but we also offer full-service property management. We can help with all aspects of your Orlando property, including marketing, tenant screening, rent collection, maintenance, and more.

Let us know about your property and request a free rental analysis.