We are very conscientious regarding accounting details.
As property managers it is our solemn charge to account for every cent of rent and each expense. Our team work hard to make sure that each 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 use one of the most powerful software tools in our profession: Rent Manager.
We strive to 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 shows the rental income as well as any bills which we have paid on the real estate investor's behalf. The monthly statement is also available online. The statement will describe what monies we are holding on behalf of the landlord.
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 organize the monthly reports into a year-end statement. In January we send to the real estate investors, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Echowood Rental Management Resources
Basics
Basic information about what property management in Echowood.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a great renter in Echowood 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 Echowood
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 our community?
Nesbitt Realty's Guide to Real Estate is a free tool for everyone who needs to find out more about Echowood and surrounding communities. The Guide to Real Estate provides information regarding what has sold and what is currently listed, and a few interesting facts that you may not be aware of. Not to mention, our Guide highlights many of the aspects of life in Echowood. Of course, most of this is useful for purchasers and sellers, but landlords and renters should also find this information to be very eye-opening.