Nexus is dedicated to ensuring that rental proceeds reach you in a timely manner. As soon as the funds are verified and available within our bank account, we promptly move forward with the next phase.
The rental payment is due as stipulated in the lease agreement.
Tenants are given a specified duration, as detailed in the lease, before incurring any late fees or beginning eviction procedures. This is often referred to as their "grace period".
To safeguard all parties involved, Nexus meticulously verifies and confirms that all funds have been successfully cleared within our bank.
Following this verification, we initiate the funds transfer through ACH, commonly known as direct deposit.
It's important to note:
Each month, on the first business day after the full lease payment has been settled, Nexus releases the Owner Draws (which represents the collected rent) via direct deposit to your account.
Once the fund transfer process begins, it usually takes between 7 to 10 business days for the respective amount to be credited to your bank account.
Nexus remains firmly committed to its contractual obligation of disbursing funds as outlined in both the lease and the property management agreements. This ensures clarity, trust, and efficiency in all our financial dealings.
