We are very attentive with accounting details.
As rental property managers it is our solemn charge to reconcile every cent of rent and each expense. Our staff work hard to make sure that every property owner has the opportunity to see 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.
It is our practice 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 states the rental income as well as any expenses that we have paid on the property owner'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. In addition, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we organize the monthly statements into a year-end statement. In January we mail 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 hand the 1099 to your tax preparer.
Elmwood Manor Rental Management Resources
Basics
Fundamental info about what management services in Elmwood Manor.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a great renter in Elmwood Manor fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A breakdown of prices of rental management in Elmwood Manor
Vetting
How Nesbitt Realty vets tenants for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rentals?
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 need know more about our community?
Nesbitt Realty's Guide to Real Estate is a helpful resource for everyone who wants to find out more about Elmwood Manor and neighboring communities. The Guide to Real Estate includes facts about what has sold and what is for sale, and a couple of interesting facts that you might not know. And, our Guide has some fundamentals of residing in Elmwood Manor. Naturally, most of this is helpful for purchasers and sellers, but owners and renters may also find these resources to be somewhat sobering.