Potentially, yes. While our goal is to wrap everything up before distributing funds 30-45 days after cessation of management, certain situations may require further attention from the owner. Two example scenarios are listed below:
- If Mynd receives any invoices for which the owner is responsible up to 60 days after the last day of management, Mynd will forward them to the owner. The owner is responsible for ensuring all vendors, services, and providers have the correct contact information to avoid any delays in processing.
- If there are not enough funds to cover all final invoices and/or if there is an outstanding balance after the last day of management, Mynd will send notifications to the owner requesting reimbursement within 4 business days of the determination of the final balance to avoid additional charges. If no payment is received, Mynd will continue to contact the property owner in order to recover any money owed. Mynd reserves all legal rights to recoup any outstanding funds, including the filing of liens and/or the pursuit of formal collections.