Last weekend I was speaking with an investor I have known for many years.
At one point we got to talking about end of month payouts. For years I have run with 2 payment options, one payment at the end of the month and the option for an additional payment mid-month. It served its purpose for the past few years but times change and as an industry we have to change with it.
This particular investor pays his own rates and taxes and is already taking advantage of our Essentials package saving just over $1,000 each year which is great but as he handles all his own accounts and his tenant pays rent monthly there is a significant advantage for him to be paid out early.
We started talking options and quickly developed our new service available for free to all owners because after all…
It’s your money paid your way
Now you can pick your own payment schedule without limitations.
- Want to be paid out on the 20th of each month?
- Want to be paid out every Friday?
- Want to be paid out whenever there are cleared funds?
Balances will also be paid out at the end of the month when owner statements are sent. Up-to-date transaction records are available on the owner portal at any time.
As with all of our policies and procedures, they are available at our Community Driven WiKi where all owners can help improve our systems and make us better.
Can you help improve our new service?
There is no such thing as one size fits all
There are many ways you can shave a few years off your mortgage and potentially save thousands such as offset accounts or making multiple payments instead of one per month. Some owners will still prefer to make a single payment a month for simplicity, but your payment day may be different to someone else’s. You should speak with your financial planner to find out what is best for your circumstances.