Owner Statement- Report breaking down the income and expenses in the given time period.
Owner Packet- Packet of documents provided to owners which includes Statement Report, billed work orders, paid utility bills, Cash Flow reports, etc. Packets can be customized.
Owner Portal- Provides 24/7 access to all Owner Packets and Statements as well as Shared Documents.
Shared Documents- Any document that is attached to Owner Page in AppFolio has the option to be shared to Owner Portal.
Distribution- payout to owner for net income.
Cash Reserve- Minimum balance required to remain in the owner's account. Typically $250 per property.
Owner Contribution- Payment made into owner’s account to replenish a negative balance.
Placement Fee- Charge for placement of a new tenant into unit. Typically 50% of one month’s rent.
Management Fee- Charge for monthly management service of unit. Ranges 6-10% of the rent collected dependent on region.
Lease Renewal Fee- Charge for renewing a tenant’s lease and increasing their rent 2-4%. This fee is $100 and only charged if rent is successfully increased.
Negative Balance Charge- Charge issued on the balance of an account if a contribution is not received.