You will need to have a maintenance reserve set up with at least $500 in it. This is for emergencies and paying vendors immediately.
We require each homeowner to have a maintenance reserve with us of $500. If you would like to have more, that is possible too. If you are wanting to set aside a large amount of money, though, we recommend putting it in a separate savings account so that you have complete control over the funds.
The $500 reserve is used to pay vendors when they complete work mid-month, rather than them having to wait for the rent to come in on the first. If your property needs emergency maintenance or the damage could get worse if left untreated, we will use up to $250 of the reserve to resolve the issue.
If you would like to make a contribution to your maintenance reserve, you can ask the property manager to pull an amount from your rental income. Additionally, you can go to your owner portal and make an "owner contribution" at any time.