We are very meticulous with financial matters.
As rental property managers it is our solemn charge to keep close track on every penny of rent and each expense. Our team work hard to make sure that every rental property owner has the opportunity to see exactly where is income is going to and coming from. To accomplish this duty we use one of the most powerful programs in our profession: Rent Manager.
We usually 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 states the rent received as well as any bills which we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly report 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. Also, 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 report. In January we send to the rental investors, 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 information regarding management services in Rockingham County.
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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 great renter in Rockingham County 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 services in Rockingham County
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Vetting
How Nesbitt Realty vets renters 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 understand more about the community?
Nesbitt Realty's Guide to Real Estate is a handy resource for everyone who wants to find out more about Rockingham County and nearby areas. The Guide to Real Estate includes data about what has sold and what is currently listed, as well as some compelling facts that you might not know. Also, our Guide spotlights quite a few of the elements of life in Rockingham County. As might be expected, all of this is interesting for purchasers and sellers, but rental investors and renters will also find these resources to be very sobering.