We are extremely careful with accounting matters.
As rental property managers it is our duty to account for every cent of income and each expense. All of us work hard to make sure that each rental property owner has the tools and paperwork to see exactly where is income is going to and coming from. To accomplish this task we work with 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 rent received as well as any expenses which we have paid on the rental property owner's behalf. The monthly statement is also available online. The monthly statement will describe what funds 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 reports into a year-end report. In January we send to 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 give the 1099 to your tax preparer.
Sunset Heights Property Management Resources
Basics
Elementary information about what property management in Sunset Heights.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a dependable renter in Sunset Heights fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A breakdown of fees associated with rental management in Sunset Heights
Vetting
How Nesbitt Realty vets tenants for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental investments?
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.
Do you need know more about this local real estate market?
Nesbitt Realty's Guide to Real Estate is a free tool for anyone who needs to investigate real estate facts about Sunset Heights and nearby communities. The Guide to Real Estate has data about what has sold and what is for sale, and a couple of shocking facts that you may not be aware of. And, our Guide spotlights some benefits of life in Sunset Heights. Certainly, most of this is helpful for buyers and sellers, but real estate investors and tenants might also find this information to be quite edifying.