We are very conscientious regarding accounting issues.
As property managers it is our duty to reconcile every cent of income and each expense. Our team work relentlessly to ensure that every rental property owner has the tools and paperwork to understand exactly where is money is going to and coming from. To accomplish this task we use one of the most powerful programs in our profession: Rent Manager.
We always try 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 rental income as well as any bills which we have paid on the rental property owner's behalf. The monthly statement is also available electronically. 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. And, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we organize the monthly reports into a year-end report. In January we send to the rental property owners, 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.
Rockingham County Property Management Resources
Basics
Basic info about what property management in Rockingham County.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a dependable renter in Rockingham County 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 services in Rockingham County
Vetting
How Nesbitt Realty vets tenants for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage property?
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 know more about this local real estate market?
Our Guide to Real Estate is a handy tool for anyone who needs to learn more about Rockingham County and nearby areas. The Guide to Real Estate includes information about what has sold and what is for sale, and some compelling facts that you might not know. Not to mention, our Guide spotlights some assets of living in Rockingham County. Naturally, all of this is helpful for purchasers and sellers, but real estate investors and tenants will likely also find these resources to be quite enlightening.