Owner Services

Owners can access our Owner's Portal for access to statements, invoice copies, etc.
For security reasons, access to the portal must be with email address we have on file for you.
If you never receive the access email, check your spam folder, or feel free to Contact Us to have your email address updated.)



FAQ


----- GENERAL QUESTIONS -----

My email/phone/address has changed, how can I update it with Dreamcatcher?

Email us at billing@dreamcatcherprop.com, be sure to include your name, rental property address and your new contact information.

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----- OWNER'S PORTAL QUESTIONS -----

How do I login to my Owner's Portal?

Follow the link to your Owner's Portal enter your email address and click Send Access Email
Be sure and use the email address that we have on file for you.
You will then receive an email with a link to login to your portal.

I didn't receive the email to access my Owner's Portal, now what?

Be sure you used the email address we have on file for you.  Only this email will work for accessing your portal.
Check your spam folder and be sure the email didn't arrive in there.


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----- OWNER'S STATEMENT QUESTIONS-----

Where can I find statements from a previous month?

Login to your Owner's Portal, Click on the "click to show older packets" link.  This will expand the page.  You can then select any previous statement that has been sent to you.

My opening balance doesn't match my closing balance from last month.

8/11/2014: This answer is a work in progress, please email us and we will be happy to answer your question.

Our Property Management Software (Appfolio) is used by hundreds of property management companies around the country and is one of the best in the industry.  Unfortunately, there are a few areas that Appfolio handles accounting a bid differently than other property management accounting packages.
There is a complex accounting relationship between the property management company, the tenant and the property owner.  Some accounting packages maintain an isolated relationship between the property management company and the tenant rather than the owner being the only one who has an accounting relationship with the tenant.  

When there are charges that a tenant pays directly to the property management company (like late fees), it it imperative that an isolated accounting relationship be maintained directly between the property management company and the tenant.  Appfolio does not maintain a direct relationship between the tenant and the property management company, so all transactions between the tenant and the property management company are processed through the owner's ledger.
In order to simulate an isolated relationship between the tenant and the property management company, Appfolio add the ability to suppress fees from showing on an owner's statement....but this causes discrepancies between opening and closing balances on owner's statements.

The most common cause for these balance mis-matches happen when a tenant is charged a late rent fee.  If the tenant pays the late fee in the following statement cycle, the opening balance does not match the prior month's closing balance because the late fee is suppressed.  

This entire subject is very complicated and difficult to describe in writing.  
If you find that you have a statement with a mis-matching opening or closing balance, please let us know ans we will run a statement over 2-3 month period.  This statement covering a longer period of time will show that all ll credits and debits are correct and accounted for.


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----- RENT COLLECTION QUESTIONS -----

What is your procedure for Late or unpaid rent?

Rent is Due on the 1st and is late after the 5th.  We have a very effective method of demanding rent that is both understanding, yet firm.  HUD Fair Housing Rules state that we must apply our procedures consistently for all tenants, so there are no exceptions to our rules. 
1st:   Rent is due
6th:   Rent is late - Letter is sent to tenant via email and USPS
11th: Letter is sent to tenant via email and USPS explaining that eviction will begin if rent is not paid.
16th: 3 Day notice of eviction is personally served to tenant/property
20th: Final demand for payment is sent to tenant via email and USPS
24th: Account is turned over to our attorney for eviction to begin
Note:  The dates above may slightly vary depending on weekends, holidays, and extenuating circumstances.
We have found that this timetable allows the tenant to receive additional income (paycheck(s)) to pay their late rent, but it doesn't allow them to get so far behind on their rent that they will never be able to catch up.

Does Dreamcatcher charge late fees?

Through experience, we have found that if late fees are too high, a tenant falling behind on rent may not be able to ever catch up.  If the late fees are too low, a tenant has no motivation to pay their rent before other bills.
Dreamcatcher's late fees are strict and just "painful" enough to ensure that the tenant has motivation to pay their rent in a timely manor.  Time has shown that our late fee structure ensures payment without being too difficult for the tenant to pay.

If a tenant pays rent late, do I get the late fees?

Through trial and error over the years, we have established methods that ensure you receive your rental income in a timely manor.  If a tenant is late, Dreamcatcher uses the collected late fees to recoup the additional time and labor involved in ensuring you receive your rental income.

If a tenant pays rent after the 14th, when can I expect to see the rental income?

We send our Owner Statements (and owner payments) once a month, on the 15th (no later than the 20th, depending on weekend, holidays, etc).  If a tenant pays after the 15th, you will see the rental income on the following month's statement.  If you need a check before then, feel free to email us (billing@dreamcatcherprop.com) and will happily send you a check. 


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----- MAINTENANCE QUESTIONS -----

I was charged for ________ to be done...if you had called me, I could have told you how it's setup and, therefore saved me money?

Dreamcatcher's primary goal is to minimize costs to you, while maintaining the property to a level that not only ensures quality tenants, but helps maintain resale value for you when you choose to sell the property in the future.

We contract extremely experienced vendors who are accustomed to working with rental properties and tenants.  We have found that our years of experience managing properties combined with the vendor's judgment in the field almost always reduces the overall cost to our owners. 
Certainly in some cases, firsthand knowledge of the history of a property may have reduced the cost of a specific repair.  Unfortunately we as the property management company can't predict which scenario is best, therefore, we rely on our experience to guide us.

Furthermore, We have found that typically the owner isn't immediately available for consultation and the vendor has to schedule a return service call to finish the work.  This second service call negates any cost savings and has generated more complaints from owners asking why a second service call was required.