We are extremely precise about accounting matters.
As rental managers it is our solemn charge to keep close track on every cent of income and each expense. Our staff work relentlessly to make sure that each real estate investor has the opportunity to know exactly where is income is going to and coming from. To accomplish this duty we employ one of the most powerful software tools in our profession: Rent Manager.
It is our practice 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 rent received as well as any bills that we have paid on the rental investor's behalf. The monthly statement is also available electronically. The monthly statement will show what reserves we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we compile the monthly reports into a year-end report. In January we send to the rental 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.
Chelsea Property Management Resources
Basics
Basic info about what property management in Chelsea.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a great tenant in Chelsea fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A breakdown of fees associated with rental management services in Chelsea
Vetting
How Nesbitt Realty vets renters for landlords.
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 want understand more about our local real estate market?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who needs to find out more about Chelsea and surrounding areas. The Guide to Real Estate has information about what has sold and what is currently listed, and a few compelling facts that you might not be aware of. Not to mention, our Guide highlights many of the elements of living in Chelsea. Naturally, all of this is interesting for buyers and sellers, but real estate investors and renters will also find these tools to be very sobering.