When you join Baker Street we ask for a bank account and routing number so that we can deposit your monthly owner payout into your account.
Baker Street’s fiscal month runs from the 5th to the 6th and we processes owner monthly payouts on the 6th of each month unless the 6th falls on a weekend or holiday. If so, we will process the payout on the next business day. The funds will take 3-4 business days to be deposited into your account so please plan accordingly.
Monthly payouts are calculated based on Monthly Rent Income collected and deducting monthly expenses which may include:
- Maintenance Labor & Materials
- Leasing Fees (charged one month prior to beginning of new lease)
- Initial Set Up Fee for new properties
- Property Reserve for new properties
- Cap Ex Expenses (larger maintenance such as Furnace or Roof Replacement)
- Turnover Charges (cleaning and maintenance between tenants)
- Snow Removal or Lawn Care if the owner provides
- Monthly Management Fee
Our Dashboard is the best place for you to get all of the information that you need to understand your monthly payout. Please refer to our Guide on the Owner Dashboard for information on relevant monthly reports and financial statements.
Because this information is available to you real-time we do not send out monthly reports. Please feel free to check your Dashboard and then reach out to us if there is something you don’t understand and we are happy to help.