We are especially precise about accounting matters.
As rental property managers it is our solemn charge to account for every penny of rent and each expense. All of us work diligently to make sure that each real estate investor has the documentation to know exactly where is income is going to and coming from. To accomplish this duty we employ one of the most powerful software tools in our profession: Rent Manager.
It is our practice to process and deposit rents on the same day they are received. Funds are deposited into an escrow account (not into our operating account). We prepare a monthly statement that shows the rental income as well as any expenses which we have paid on the landlord's behalf. The monthly statement is also available online. The monthly statement will describe what reserves we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we compile the monthly reports into a year-end report. In January we mail the rental investors, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Old Town Rental Management Resources
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Basics
Elementary information about what property management in Old Town.
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Getting Started
Learn more about getting started with rental property management
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Find A Tenant
List your property to rent to find a dependable tenant in Old Town fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
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Cost
A breakdown of fees associated with rental management in Old Town
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Vetting
How Nesbitt Realty vets tenants for property owners.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage rentals?
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Clients
Who uses Nesbitt Realty management services?
Your investment in real estate is a business like any other. As a landlord, you have expenses, income and with perseverance, you also have the expectation of financial reward.
In the business of real estate investment, nearly all cashflow comes from tenants. And that's the catch: If you have tenants, you will have problems. Even the best of tenants have needs and all properties will require maintenance or management at some point. A property management company takes all the hassle out of rental management.
Should you know more about the community?
Our Guide to Real Estate is a free resource for anyone who hopes to find out more about Old Town and nearby areas. The Guide to Real Estate includes information regarding what has sold and what is currently listed, as well as many compelling facts that you might not be aware of. And, our Guide features quite a few of the benefits of residing in Old Town. Certainly, most of this is interesting for buyers and sellers, but property owners and tenants will likely also find these resources to be very edifying.