We are extra serious about financial details.
As property managers it is our duty to reconcile every penny of income and each expense. Our team work diligently to make sure that every rental property owner has the tools and paperwork to see exactly where is money is going to and coming from. To accomplish this task we use one of the most powerful software tools in our profession: Rent Manager.
We always try to process and deposit rents on the same day they are received. Rents 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 rental investor's behalf. The monthly statement is also available online. The monthly statement will describe what reserves we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. And, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly statements into a year-end statement. In January we send to the property owners, 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.
Basye Rental Management Resources
-
Basics
Elementary information regarding rental managment in Basye.
-
Getting Started
Learn more about getting started with property management
-
Find A Tenant
List your property to rent to find a dependable tenant in Basye fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
-
Cost
An overview of fees associated with rental management services in Basye
-
Vetting
How Nesbitt Realty checks the backgrounds of tenants for property owners.
-
Reserves
What is a contingency reserve account?
-
Territory
Where does Nesbitt Realty manage rental property?
-
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 understand more about this area?
Nesbitt Realty's Guide to Real Estate is a free resource for anyone who needs to review important real estate information about Basye and neighboring communities. The Guide to Real Estate has facts regarding what has sold and what is for sale, and a few interesting facts that you might not know. Not to mention, our Guide highlights some benefits of living in Basye. Naturally, all of this is helpful for purchasers and sellers, but rental investors and tenants might also find these resources to be very sobering.