Bookkeeping

Rent collection. Rent checks are made payable to O'Connor Management and are deposited into our company's escrow account. If applicable, late fees are charged to the tenant's account according to the lease agreement.

Bill payment. O'Connor Management pays all owner's expenses, typically utilities for common areas (public lighting, water, sewer and trash removal); any maintenance invoices, including routine lawn care/snow removal, etc.; mortgage payments; and insurance premiums, if desired. Bills are paid using the rent money kept in the company's escrow account.

Monthly statement. Once all expenses are paid, owners are sent the remaining rent along with a monthly statement itemizing all debits and credits for the property. An owner's monthly check may be deposited directly to the owner's bank account, if desired. Monthly management fees are deducted from each property's account. We ask that owners keep a reserve amount with O'Connor Management so that funds are available in case of emergency or for invoices that come due before next month's rent arrives.