Depositing rent money into owners accounts
|The monies held by LETCO real estate for the owner of the premises are paid at the end of each month unless otherwise instructed by the owner. The payment is made through direct EFT banking to your nominated bank account. Your rent has been banked by the time you receive your statement.
The rental income can be deposited to more than one bank account and base on percentages mentioned by the owners on the managing agency agreement with LETCO real estate.
For example if there are three owners for a single property our system allows us to deposit the rental income to their nominated accounts on 30%, 20% and 50% basis or any other figures. Each owner also receives a separate statement.