Financials and Reporting

We provide clear monthly accounting for all income and expenses on your property, with fast fund disbursement to owners. Our advanced management system gives you 24/7 access to everything through the online Owner Portal — leases, statements, work orders, receipts, and invoices. At year-end, you’ll receive a full annual summary and a 1099-MISC for tax reporting.

HANDLING YOUR FUNDS
When you entered into a management agreement, TRUE MANAGEMENT opened a dedicated account for you and your property. We understand the importance of precise fund collection and disbursement. Our specialized property-management software is built for accurate, compliant bookkeeping and fully meets the requirements of the Florida Real Estate Commission.

BANKING
TRUE MANAGEMENT holds your account in a state-mandated Florida trust account, which does not earn interest. We maintain separate, accurate records for each owner and never co-mingle client funds with broker funds, fully adhering to Florida Real Estate Commission requirements.

MONTHLY REPORTS/STATEMENTS
TRUE MANAGEMENT provides monthly statements through your online Owner Portal, with an email reminder sent each month. If you ever have trouble viewing or understanding your statement, our management team is always here to help.

DISBURSEMENT
TRUE MANAGEMENT disburses available funds to owners on the 10th of each month. If the 10th falls on a Saturday, Sunday, or holiday, funds are processed the following Tuesday. A calendar of scheduled disbursement dates is available on our website, www.centralflrentals.com
. We do not issue checks on weekends or holidays and only disburse funds when sufficient funds are available in the owner’s account. Accurate posting of rents, payment of vendors, and timely fund distribution are essential, so adherence to this schedule ensures every owner’s account is properly serviced.

Owner funds are distributed in two ways:

Company Check: Mailed directly to the owner with the monthly statement.

ACH Direct Deposit: Deposited directly into your bank account; monthly statements are mailed after disbursement. A form to set up ACH is included with this information.

ANNUAL PROCEDURES:
At the end of each year, TRUE MANAGEMENT is required to file 1099s for income received over $600. This applies to total income received, not the total of owner disbursements. Security deposits are not included.

To ensure accuracy, owners must provide their Social Security or Tax ID information. 1099s for the prior tax year are issued by January 31. If your tax information changes (e.g., new trust or address), please submit an Owner Change of Information form. Contact us if you need a new form.

TRUE MANAGEMENT also issues 1099s to vendors for payments over $600 made through our trust account. Owners do not need to issue 1099s for these payments, but are responsible for vendors paid from their personal accounts.

The final statement of the year summarizes all income and expenses processed through TRUE MANAGEMENT (management fees, leasing fees, utilities, repairs, etc.) but does not include funds paid directly from the owner’s account. Owners can provide this statement to their tax preparer; TRUE MANAGEMENT does not send statements directly to preparers. Copies of the owner’s 1099 and cash flow report are always available in the Owner Portal.