adrianc
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Post by adrianc on Sept 4, 2015 8:01:47 GMT
Am I imagining...? I'm sure there was a rent payment flagged as due for 25/8 - but it came and went ("Your next rental payment is due in just 1 day... 0 days...") with nothing appearing, and the property page shows £0 rent paid, next due 25/9.
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pom
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Post by pom on Sept 4, 2015 12:10:56 GMT
They have to have been rented out a whole month first, so you don't get rent the month it completes - you should have had a cashback payment on that date tho. It's a bit confusing (I've already fed this back to them) but the cash does turn up eventually :-)
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paulgul
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Post by paulgul on Sept 6, 2015 20:12:21 GMT
I was expecting cashback on SPV21, 23 and 25 but nothing, listed as being in the 1st month of rental - I might email them tomorrow if they don't reply here first propertymoose |
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webwiz
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Post by webwiz on Sept 6, 2015 21:53:35 GMT
I have shares in 23 and 25 but I don't recall anything about cashback - where did you get that from?
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paulgul
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Post by paulgul on Sept 6, 2015 22:27:32 GMT
Cashback is probaly not the right term, referring to the 3%pa interest paid before earning rent. Looking on their faq page it looks as though we may not get that until the first rent is paid. Faq |
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pom
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Post by pom on Sept 7, 2015 8:00:36 GMT
Check your statements for cashback - and yes it's the 3% until completion (not rental). I got cashback for 23, 24, 25 at the end of Aug. Cashback for 21 was at the end of July. Of course if you're really late jumping in or something fills really quick (eg 19) there may not be any.
I queried lack of August rent for 21 - apparently the agents weren't going to be handing over the cash until a couple of days after PM were making the payments to us. I got some in Aug for 20 tho so it's filtering through
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webwiz
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Post by webwiz on Sept 7, 2015 8:21:16 GMT
You are right, they do call the 3% interest pre-renting "cashback". Impossible to make any sense of it if you only hold a share or two (like me) as they round (up/down/off?) to whole £s.
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pom
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Post by pom on Sept 7, 2015 8:56:40 GMT
They round up
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paulgul
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Post by paulgul on Sept 7, 2015 10:40:18 GMT
Check your statements for cashback - and yes it's the 3% until completion (not rental). I got cashback for 23, 24, 25 at the end of Aug. Cashback for 21 was at the end of July. Of course if you're really late jumping in or something fills really quick (eg 19) there may not be any. I queried lack of August rent for 21 - apparently the agents weren't going to be handing over the cash until a couple of days after PM were making the payments to us. I got some in Aug for 20 tho so it's filtering through Just checked my statement and I have the cashback for SPV21 at the end of July but no cashbacks at all for the end August (for SPV23 and 25) I made the investments for 23 on 13th Aug and 25 on 10th Aug so perhaps it wasn't long enough to earn interest- will have to email them to check - it won't break the bank if I don't get any - only single shares of each
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pom
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Post by pom on Sept 7, 2015 10:51:36 GMT
Check your statements for cashback - and yes it's the 3% until completion (not rental). I got cashback for 23, 24, 25 at the end of Aug. Cashback for 21 was at the end of July. Of course if you're really late jumping in or something fills really quick (eg 19) there may not be any. I queried lack of August rent for 21 - apparently the agents weren't going to be handing over the cash until a couple of days after PM were making the payments to us. I got some in Aug for 20 tho so it's filtering through Just checked my statement and I have the cashback for SPV21 at the end of July but no cashbacks at all for the end August (for SPV23 and 25) I made the investments for 23 on 13th Aug and 25 on 10th Aug so perhaps it wasn't long enough to earn interest- will have to email them to check - it won't break the bank if I don't get any - only single shares of each Let us know what they say - the duration is my assumption as 19 is the only one I didn't get any for but it was the one that filled in a couple of hours. My certificate for 23 is dated the 13th tho so you must have been one of the last to sneak in, tho the one for 25 says the 18th... but I don't really know when either completed.
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paulgul
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Post by paulgul on Sept 9, 2015 7:41:14 GMT
Ok, got the reply back from PM, because I was relatively late in the investment and only had one share in each the cashback earned was less than £1 (37p on each) so was not credited to my account. The money is not lost but will be added to any rent earned on the given property so will show up on the next statement.
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pom
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Post by pom on Sept 9, 2015 11:04:20 GMT
Ah I did think that rounding everything up might be a bit unsustainable!
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webwiz
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Post by webwiz on Sept 9, 2015 12:02:33 GMT
PM if you read this please explain why sums are rounded and in which way.
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paulgul
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Post by paulgul on Sept 9, 2015 16:42:50 GMT
PM if you read this please explain why sums are rounded and in which way. I don't think its a case of rounding (up or down) just that they don't pay out amounts of less than £1. Although their email did say " We are also hoping to introduce a payment of pennies in the future so this will hopefully help make the cash back bonus more apparent"
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webwiz
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Post by webwiz on Sept 9, 2015 18:34:19 GMT
PM if you read this please explain why sums are rounded and in which way. I don't think its a case of rounding (up or down) just that they don't pay out amounts of less than £1. Although their email did say " We are also hoping to introduce a payment of pennies in the future so this will hopefully help make the cash back bonus more apparent" No, even larger amounts are always rounded up/down/off.
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