We are very precise about accounting details.
As rental property managers it is our duty to account for every cent of rent and each expense. Our team work hard to ensure that every real estate investor has the opportunity to understand exactly where is money is going to and coming from. To accomplish this duty we use one of the most powerful software tools in the management business: Rent Manager.
We usually 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 bills which we have paid on the landlord's behalf. The monthly statement is also available online. The monthly statement will describe what funds we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Also, 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 statement. In January we send to the property owners, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Rockingham County Property Management Resources
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Basics
Basic info regarding property management in Rockingham County.
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Getting Started
Learn more about getting started with rental property management
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Find A Tenant
Market your property to rent to find a great tenant in Rockingham County fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
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Cost
A list of prices of property management services in Rockingham County
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Vetting
How Nesbitt Realty checks the backgrounds of tenants for landlords.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage rental investments?
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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.
Do you want understand more about this local real estate market?
Nesbitt Realty's Guide to Real Estate is a helpful tool for everyone who hopes to learn more about Rockingham County and nearby areas. The Guide to Real Estate has data regarding what has sold and what is on the market, as well as a couple of compelling facts that you might not be aware of. Not to mention, our Guide has quite a few of the assets of life in Rockingham County. Of course, all of this is interesting for purchasers and sellers, but owners and tenants may also find this data to be quite useful.