The owner
Gives
A line on top of your management fee, on the doors they choose to put in
Gets
A payout date that stops moving with the tenant's timing
The owner-paid version
A payout date your owners can count on, and a line on your management fee that pays for it.
Rent lands any time in the first week of the month while your owner’s mortgage is due on a fixed date, and that gap is what you are charging for. Underneath it, Fyxed puts the shortfall into your trust account so the distribution can go out, and takes 2% of what it advanced.
Three parties, and what each one is in it for.
A $2,000 door at $20 a month, over a year, with the rent coming up short twice.
You
Gives
Nothing out of your own account, and no change to your distribution cycle
Gets
Whatever is left after our fee, on a program that carries your name
Fyxed
Gives
The shortfall into your trust account, plus the wording you hand the owner
Gets
2% of what we advanced, and only in the months you actually draw
The owner pays before we take ours.
Our fee leaves your operating account, which is what makes managers ask whether they are funding this, but the owner’s money reaches that account first and leaves it bigger than it was.
1
The owner pays you
+$240
$20 a month on that door, in all twelve months
2
It lands in your operating account
+$240
the same account your management fee already goes to
3
We draw 2% of what we advanced
−$80
two advances that year, at 2% of $2,000
4
You keep the rest
+$160
and no line anywhere says you paid for it
The owner pays you in every month of the year, and we charge only in the months you actually draw.
Price it against your own book.
Put in your doors, your rents, and how often a door actually comes up short when you run your distribution.
What you charge
Added per door, per month$20
$2$60
Doors enrolled150
1600
Average monthly rent$2,000
$800$5,000
Months a year a door comes up short2
012
Short means still short when you run your distribution, not simply paid after the due date. This worksheet counts our fee against the full rent rather than against the shortfall, which overstates it, and counts it once per advance. Bring your own numbers and we will run it properly.
Per year, across the doors you enrolled
+$24,000
left in your operating account after our fee
What the owners pay you+$36,000
Advances you put through300
Our fee, 2% of each advance−$12,000
Left in your operating account+$24,000
At $20 a door you stay ahead until 6.0 months a year come up short.
The owner pays you in all twelve months. We only charge in the months you actually draw.
Your owner will ask why you rented to someone who pays late.
It is worth having that answer ready before they think of it. Rent runs late for reasons that have nothing to do with whether it gets paid at all, a check that sat in the mail over a holiday weekend or a housing authority running on its own calendar. What you are selling the owner is a date, and that is a smaller thing to promise than it sounds.
When the money actually lands
The advance is in your trust account on the fifth business day of the month, after the grace window has run. If your distribution goes out after that, your owners’ date never moves.
If you pay owners earlier in the month than that, say so on the call. The timing has to be worked out rather than assumed, and we would rather find that out with you than after.
What it takes to start.
There is no addendum in this, and there is no owner you already have being asked to reopen anything.
- 01
Pick what you charge.
A flat amount per door is the lighter one, because it is a recurring owner charge rather than a change to the management fee percentage your whole agreement is built on.
- 02
Start where nothing gets reopened.
Put it in new management agreements first, where the line sits in a document you were already going to sign, so no owner you already have gets asked to look at their contract again.
- 03
Bring the book you already have when you want to.
Changing a fee on an agreement that is already signed depends on how that agreement is written. That is your paperwork and your lawyer, and we are not going to pretend we know what your contract says.
The moment that works best
The best time to offer it is a month when an owner comes up short, because your team already writes that email and it is the one time an owner is asking for this rather than being sold it. Send the real number from that month along with it.
Where the line is.
Who should not buy it
An owner whose rent has never come in late does not need this, and selling it to them anyway is how these packages get the reputation you are trying to avoid.
A tenant who never pays
Where that leaves the money depends on the book it happens in, so we work it out on the call against your numbers rather than answering it on a web page.
Nobody is running this yet
The managers who go first will shape the wording their owners end up reading. We would rather say that here than have you find it out on the call.
Bring your own numbers
Fifteen minutes against your actual book.
Bring your door count, what you charge today, and how often rent is still short when your distribution goes out. We will price it with you and go through what you would say to an owner.
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