We are extremely conscientious regarding accounting issues.
As rental property managers it is our solemn charge to keep close track on every penny of income and each expense. Our staff work hard to ensure that every rental investor has the tools and paperwork to see 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 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 states the rent received as well as any expenses which we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The statement will describe what reserves 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. Annually, we compile the monthly reports into a year-end report. 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.
Old Town Rental Management Resources
Basics
Fundamental info about what rental managment in Old Town.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a dependable renter in Old Town fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A breakdown of fees associated with rental management services in Old Town
Vetting
How Nesbitt Realty checks the backgrounds of renters for property owners.
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 understand more about this local real estate market?
Our Guide to Real Estate is a helpful resource for anyone who needs to learn more about Old Town and nearby communities. The Guide to Real Estate has data about what has sold and what is for sale, as well as many compelling facts that you might not be aware of. Not to mention, our Guide spotlights many of the assets of residing in Old Town. Yes, most of this is interesting for buyers and sellers, but rental investors and tenants will likely also find this data to be somewhat informative.