We here at Renshaw Company, Realtors are excited to announce a change in the way that owner distributions and statements will be issued. Until now, we have sent out statements from distribution date to distribution date; i.e. if the last distribution was February 10, and a subsequent distribution was sent out on March 10, the March statement would be from February 11-March 10. One primary limitation of this reporting method is that the statements straddle two months, and it can be difficult to see what’s happening in any given calendar month. In addition, any late rent was held until the next distribution date unless a distribution was specifically requested by you, the client.

To eliminate this situation, Renshaw will be moving to a new statement and distribution method as follows:

Renshaw will be issuing calendar-month statements at the beginning of the following month. We will issue calendar-month statements for March immediately following this email.

• When the first distribution date for the month comes (on or before the 15th of the month, the previously-used statement and distribution date) and a distribution is sent to you, you will then receive a month-to-date distribution statement. This statement will show the transactions on the account up to and including that distribution for the current month.
• As late rents and other funds are received, distributions will go out daily for funds that have cleared the bank. When you receive a distribution, a distribution statement for that month-to-date will also be issued.
• All of these transactions will be included on the trailing full calendar-month statement that will be issued at the beginning of the following month.

In order for us to facilitate this process, we will be utilizing “work order estimates” to temporarily hold funds on properties that have open work orders and potential repairs. These will only hold funds on the properties until the service request/work order has been closed out in our system and will allow us to provide funds to clients more quickly as they come in while still allowing for maintenance to flow smoothly. Based on past account balance history, we will be reaching out to some clients to establish reserve amounts, but we will reach out to you individually if this is necessary.

We are confident that these new monthly procedures and statements will provide improved clarity for you and faster distributions of your earned revenues. As always, thank you for being a Renshaw client, and please feel free to reach out if you have any questions or concerns.

Sincerely,
Renshaw Company, Realtors