Why did I not receive any Net Rent Payment the first month of the rental?
It is customary in our market to charge a month worth of rent for the procurement of a tenant. Normally, the first month paid by the tenant is used to offset this cost.
At the time of the exchange of keys for payment, move in date, we collect this first month rent as our commission for finding the tenant.
We also, accrual your account for the management fee corresponding to that month, even though you will not receive the rent payment.