We are extra conscientious regarding accounting issues.
As rental property managers it is our duty to keep close track on every cent of income and each expense. All of us work diligently to ensure that every rental investor has the tools and paperwork to see exactly where is money is going to and coming from. To accomplish this task we work with one of the most powerful software tools in our profession: Rent Manager.
We usually 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 real estate investor's behalf. The monthly statement is also available electronically. The monthly statement will describe what monies we are holding on behalf of the rental property owner.
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. At the end of the year, we organize the monthly statements into a year-end report. In January we send to the landlords, 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.
Fairfield Property Management Resources
Basics
Basic info regarding management services in Fairfield.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a dependable tenant in Fairfield fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
An overview of fees associated with rental management in Fairfield
Vetting
How Nesbitt Realty vets tenants for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental investments?
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 our area?
Nesbitt Realty's Guide to Real Estate is a handy resource for everyone who wants to investigate real estate facts about Fairfield and nearby areas. The Guide to Real Estate provides facts about what has sold and what is currently listed, as well as some interesting facts that you might not know. Not to mention, our Guide spotlights quite a few of the benefits of residing in Fairfield. Naturally, most of this is interesting for buyers and sellers, but rental investors and tenants will also find this information to be somewhat informative.