For Poplar homeowners with incoming residents who were independently approved by Poplar, we initiate rent payout by the third banking day of each month.
So, whether we receive your rent on the first or fifth, we payout to you on the third banking day of the month. We use the latest same-day ACH technology we've built directly with our bank to pay you as fast as possible. With this process, you will receive your rental income generally on the third or fifth business day of each month depending on your bank and day of the week.
Once we determine a resident is not going to pay rent for a particular month, we will send a notice to pay or quit. At this point, Poplar will no longer continue to pay out rent to you as the owner but our Eviction Coverage program will kick in.
With Poplar's eviction coverage, we will cover all legal fees associated with an eviction and partner with top local attorneys to handle the process from beginning to end.
The full details and terms of Poplar's Rent Guarantee and Eviction Coverage programs are covered in your Property Management Agreement. Please read your agreement for more information.