Owner Contributions & Repair Funding: What You Need to Know
When a maintenance issue comes up at your property, our goal is to resolve it quickly and protect your investment. Part of that process sometimes involves collecting funds in advance before we dispatch a vendor. This article explains when that's required, what your options are, and how the process works.
When Is an Owner Contribution Required?
In most situations, we handle routine repairs directly from your property's available funds. However, we do require an upfront contribution in the following situations:
- The property is Placement Only (we are not managing funds on your behalf)
- The property is vacant — unless a new tenant has already been secured (and paid) and repairs won't exceed the monthly rent amount, or the repairs will be fully deducted from the departing tenant's security deposit
- The property is occupied and the repair cost exceeds the monthly rent amount
If there is not active cash flow, we will typically ask for a contribution!
For turnovers, we can hold the tenant's final month rent payment to cover repair costs — that way we don't have to request funds from you. Let your account manager know if you'd like us to hold the last month's rent funds for repairs!
How Contributions Work
If a contribution is required, here's what to expect:
- You'll receive an estimate through your owner portal for review and approval
- Once approved, you'll receive a link to submit your contribution if it was request through the estimate. If not, you can visit the contribution tab anytime to make an owner contribution.
- If a contribution is required, we do not dispatch vendors until funds are collected
What If You Have Other Properties With Us?
If you own multiple properties managed by MoveZen in the same metro area, there is active cash flow, and the repair amount is within the monthly rental rate of your occupied properties, a direct contribution may not be required.
Either:
- You contribute funds directly — preferred if you'd like to keep property finances separate
- Our accounting team transfers the needed amount from available funds on your other property
A few things to know if a transfer occurs:
- You'll always have time to review your statement and contribute directly before any transfer takes place
- All transfers are documented and will appear on both property statements. All accounting is kept clean and the expense will remain on the correct property — it is essentially a contribution being recorded, except the funds come from your other property rather than submitted directly by you.
If you'd prefer to contribute directly rather than have us use funds from your other properties, you're always welcome to do so! Just be sure to submit your contribution promptly for vacant or lower cash flow properties so we can pay vendors quickly and keep your repairs on track.
Learn how to make a contribution through the owner portal here!