Your owner statement is a two-part document: a ledger of every transaction on your property for the month, then a summary of income, expenses by category, the net, what was distributed to you, and the opening and closing cash we hold for you. It comes by email each month, and you can ask for one on any date in between.
There is no portal and no login. This page explains each line so you can check the statement in five minutes.
Where the numbers come from
Rent we collect for you is your money, not ours. In our books it sits in a trust liability account for your property, and your statement is built from the transactions in that account. Only the fees we actually earn, management, leasing, coordination and inspection fees, are our income. The statement is produced in Xero after the month’s bank reconciliation is complete. Our goal is to send it around the 15th of the month.
Part 1: the transaction ledger
Every entry for the period, in date order, with a description, the amount and the running balance. Typical entries:
- Rent received. One line per tenant payment, dated the day the payment settled. Rent invoices are dated the 1st and are late after the 5th, so a payment on the 3rd and a payment on the 9th look different here.
- Housing assistance payment. For a voucher tenancy, the program’s share arrives separately from the tenant’s share and shows as its own line.
- Vendor bill paid. Repairs and services, with the vendor name and the work. Vendors are paid on the 2nd and 4th Wednesday of each month, so a repair done late in the month may appear on the next statement.
- Management fee. See below.
- Owner distribution. The transfer to your bank account.
- Reserve transfer. Money moved between your reserve and your operating funds.
If a line does not make sense, the ledger is where to point when you ask.
Part 2: the summary
Income. Rent and other tenant charges collected during the month, grouped by type.
Management fee. 10% of gross rent collected, calculated on the rent that actually came in, not the rent that was due. A vacant unit or an unpaid month generates no fee. Expenses are passed through on top and are never netted off before the fee is calculated. Management agreements signed from September 19, 2026 carry a $125 per unit monthly minimum. Where it applies, the minimum shows as its own line, so you can see the 10% fee and the minimum separately. Agreements signed before that date keep the terms they were signed on.
Expenses by category. Repairs and maintenance, utilities during vacancy, licence and registration fees, leasing fees and so on. Routine maintenance carries a 10% coordination fee; large projects carry a 12% project management fee with a $250 minimum, as published on the pricing page. Every fee is its own line item. The vendor line shows what the vendor actually charged, and the coordination or project management fee sits on a separate line; we never fold a fee into a vendor bill. Card processing fees on tenant payments are passed to the owner and itemized as their own line.
Net. Income less expenses for the month.
Distribution. What was sent to you, and the date. Distributions go out the same day as the statement, around the 15th, by bank transfer from our Relay account as a direct deposit to your account. A paper check is available on request but is slower.
Opening and closing cash, including funds held. The balance we held for you at the start and end of the month. Funds held include:
- Owner reserve, $500 per unit. Held in a separate bank account and moved into your property funds when a repair needs it. When a draw happens, the reserve is replenished automatically: the amount is withheld from your next distribution.
- Security deposits. Shown for information only. Tenant deposits sit in a separate federally insured account at a Maryland bank, placed there within 30 days of receipt and tracked per unit, as Real Property 8-203 requires. Interest accrues monthly to the tenant. They are the tenant’s money until a lawful deduction at move-out and never form part of your distribution.
Fees you will and will not see
You will see the management fee and any a la carte item you ordered: an inspection report ($120 routine, $140 move-in or move-out), eviction coordination ($325), or the annual review ($225). Late fees paid by a tenant are retained by EPG under the management agreement and do not appear as owner income. Maryland caps a late fee at 5% of the unpaid rent for the period (Real Property 8-208(d)(3)), and that 5% includes all collection costs other than costs a court awards.
Checking the statement in five minutes
- Does rent received match the rent due for each occupied unit? If not, the ledger shows who is short and by how much.
- Does the management fee equal 10% of the rent received line?
- Do you recognize every vendor bill? Each one was approved under your agreement’s thresholds.
- Does closing cash equal opening cash plus income less expenses less distribution?
- Is the reserve at $500 per unit? If it is lower, a draw happened this month and the ledger shows why.
How to ask a question
Reply to the statement email, or call or text (240) 916-6008, Monday to Friday 9:00 to 4:00. Name the property and the ledger line. We send the vendor invoice, lease or inspection report behind any line by email. There is no charge for records requests.
For a bigger picture, the optional Annual Budget and Performance Review ($225) covers maintenance trends, budget and how the property performed over the year.
Common questions
When does the statement arrive?
By email each month after the bank reconciliation is done, around the 15th as our goal. You can ask for an interim statement at any time.
When is the distribution paid?
The same day the statement goes out, around the 15th, by Relay bank transfer to the account on file.
Why is the management fee lower this month?
It is 10% of rent actually collected. A late or partial payment lowers the fee for that month; the fee catches up when the rent does.
Why is my distribution smaller than the net?
Usually a reserve top-up after a repair draw, or a bill paid near month end. The ledger shows which.
Are security deposits included in my cash balance?
They are listed as funds held for information, but they are the tenant’s money and are not available for distribution.
Can I get the invoice behind a repair line?
Yes. Ask by email and we send it. Every vendor invoice shows the property address, the vendor, an itemized description, the amount and the date.
Will the statement work for my accountant at year end?
Yes. Twelve monthly statements and the year-end documents are organized for hand-off. See the year-end guide.
Sources
- EPG, Financial reporting and owner statements: https://eastern.properties/financial-reporting-owner-portal/
- EPG, Pricing: https://eastern.properties/pricing/
- Maryland Real Property 8-203 (security deposit accounts and interest): https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=grp§ion=8-203&enactments=false
- Maryland Real Property 8-208 (late fee cap, 5%): https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=grp§ion=8-208&enactments=false
- Supreme Court of Maryland, Westminster Management v. Smith (2024): https://www.mdcourts.gov/data/opinions/coa/2024/4a23.pdf
- EPG knowledge base: Accounting Model (agency method, owner statements, owner reserve, management fees, vendor payments), SOP Register entries SOP-20 and SOP-21; statement and distribution timing confirmed by EPG management, 7 October 2026