How We Account For Rents and Expenditures For Our Rental Owning Clients

We are especially conscientious regarding fiduciary issues.

As rental property managers it is our duty to reconcile every cent of income and each expense. Our staff work relentlessly to ensure that each property owner has the documentation to understand exactly where is income is going to and coming from. To accomplish this duty 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 states the rent received as well as any expenses which we have paid on the landlord's behalf. The monthly statement is also available online. The monthly report will describe what monies we are holding on behalf of the landlord.

There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end report.  In January we mail the real estate investors, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.

 

rent manager
Nesbitt Realty uses Rent Manager

Catalina Property Management Resources

Basics

Fundamental information about what management services in Catalina.

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Getting Started

Learn more about getting started with property management

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Find A Tenant

Market your property to rent to find a dependable tenant in Catalina 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 list of fees associated with rental management services in Catalina

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Vetting

How Nesbitt Realty checks the backgrounds of 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 rental property?

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Clients

Who uses Nesbitt Realty management services?

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Contact

Call (703)765-0300 to speak to a rental specialist now.

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If you have tenants, you have problems.

Nesbitt Realty handles those problems.

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.

Do you want understand more about our community?

Our Guide to Real Estate is a handy tool for anyone who wants to find out more about Catalina and nearby areas.  The Guide to Real Estate has facts regarding what has sold and what is currently listed, as well as a couple of interesting facts that you may not be aware of.  And, our Guide features some fundamentals of living in Catalina.  Naturally, all of this is interesting for purchasers and sellers, but rental investors and renters will probably also find this data to be somewhat sobering.

Serving Catalina