What the portal holds
Each owner gets a login to a portal tied to their properties. The portal is the official record of the management relationship, so it is where to look first before you call or email.
- Every rent payment received, with the date and the amount.
- Every repair: what was reported, what the vendor did and the vendor's invoice attached.
- Every inspection, including the move-in photo inspection and the quarterly photo reports.
- Documents: the management agreement, leases and renewals, addenda, HOA correspondence and other paperwork for the property.
- Monthly owner statements.
- Your year-end 1099.
Setting up your account the right way
A few minutes at the start saves trouble for years. When you sign the management agreement, you will receive an invitation to your portal.
- Use an email you will keep. Statements and approval requests go there.
- Give us your bank details for direct deposit and confirm the account name matches the owner of record, whether that is you personally, a trust or an LLC.
- Give us a completed W-9 with the correct taxpayer ID for the owner of record, so the 1099 is right the first time.
- Agree on your repair approval limit in the management agreement: the dollar amount under which the team simply fixes the problem, and above which we call you first.
- Tell us if a spouse, partner or accountant should also receive statements or be able to approve repairs.
How to read a monthly statement
Your statement is a ledger for one month. Read it from the top: the balance carried in, money received, money paid out, and what was sent to you.
Income lines show rent and any other charges the tenant paid, such as a late fee or pet rent. Expense lines show management fees, repair invoices at cost, HOA dues if we pay them from rent, and anything else paid on your behalf. Each repair has the vendor's invoice attached in the portal, so you can see exactly what you paid for.
If your management agreement sets aside a reserve for repairs, so a repair does not have to wait for the next rent payment, the statement shows it separately from the amount sent to you.
- Compare rent received to the rent on the lease. A gap means a partial payment or a late tenant, and the portal will show where that stands.
- Open the invoice for any repair line you did not expect.
- Check HOA and other recurring payments are the amounts you expect.
- Match the amount sent to you against the deposit in your bank account.
Direct deposit on a set day
Owner proceeds go to your bank account by direct deposit on a set day each month. The schedule is in your management agreement. Rent that arrives late, or a payment that has not cleared, goes out in the next cycle once it is in hand.
If you change banks, tell the team in writing well before the next payout date. Treat any email asking you to change payment details with suspicion, and confirm it with the team before acting on it.
Repairs, inspections and approvals
When a tenant sends a repair request with photos, the team sends one of the licensed vendors it already works with. Under your approval limit, the work just gets done and the invoice appears in the portal at cost. Above it, we call you with the problem, the options and the price before any work starts. True emergencies, like water pouring into the home, are stopped first so the damage does not grow.
Preventive work is scheduled ahead, such as HVAC servicing, filter changes, gutter cleaning and pest control, so it shows up on your statement as routine maintenance instead of emergency calls.
Quarterly inspections cover the inside and outside of the home. Each one produces a photo report in the portal. Read it. It is the clearest way to see the condition of a house you may not visit, and over time the reports build a dated history of the home.
Tax time: the 1099 and your records
After the year ends, the 1099 for the rent we collected on your behalf is in your portal. Download it along with all twelve monthly statements and send both to your tax preparer.
The statements matter as much as the 1099. The 1099 reports gross rent. The statements show the deductible side: repairs, management fees, HOA dues and other expenses paid from the rent. Your preparer will still need records we do not hold, such as mortgage interest, property taxes and insurance you paid directly, and your depreciation schedule.
Keep a copy of each year's documents outside the portal as well, in your own files, for as long as your tax preparer recommends.
Good habits for owners
- Look at your statement every month, even when nothing seems to have happened.
- Read each quarterly inspection report and ask about anything you do not understand.
- Raise your approval limit if small calls are slowing repairs down; lower it if you want to see more.
- Answer approval calls promptly. A tenant waiting on a repair is a tenant thinking about moving.
- Keep your insurance declarations page and HOA contacts current with the team.
Questions
What is an owner portal in property management?
It is a secure login where a rental owner sees every payment, repair, inspection and document for their property, along with monthly statements and the year-end 1099.
When do owners get paid by Rothrock?
By direct deposit on a set day each month, as stated in the management agreement. Rent that arrives late goes out in the next cycle once it has cleared.
Where do I find my 1099 for rental income?
After the year ends, your 1099 is posted in the owner portal. Download it with your twelve monthly statements, which show the expenses your tax preparer will need.
Can I see repair invoices?
Yes. Repairs are billed to you at cost and each repair in the portal has the vendor's invoice attached.
Do I have to approve every repair?
No. You set a dollar limit. Below it the team fixes the problem, and above it we call you before any work starts, except to stop an emergency from causing more damage.
General information about Texas rules, not legal advice. For a specific situation, speak to a Texas attorney.