We are especially conscientious regarding money issues.
As rental property managers it is our duty to account for every penny of income and each expense. Our staff work relentlessly to ensure that every rental property owner has the tools and paperwork to understand exactly where is income is going to and coming from. To accomplish this duty we work with 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 rental income as well as any expenses that we have paid on the rental investor's behalf. The monthly statement is also available electronically. The statement will describe what funds we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. And, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly reports into a year-end statement. In January we send to the landlords, 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.
Rockingham County Rental Management Resources
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Basics
Elementary info regarding rental managment 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
List 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 landlords?
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Cost
A breakdown of fees associated with property 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 property?
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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 area?
Nesbitt Realty's Guide to Real Estate is a helpful resource for everyone who wants to learn more about Rockingham County and surrounding communities. The Guide to Real Estate provides facts about what has sold and what is for sale, and many surprising facts that you might not be aware of. And, our Guide features many of the benefits of residing in Rockingham County. Naturally, all of this is useful for buyers and sellers, but landlords and tenants should also find these resources to be very enlightening.