We are extremely meticulous with accounting details.
As rental managers it is our solemn charge to keep close track on every penny of rent and each expense. All of us work diligently to ensure that each property owner has the opportunity to understand exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful software tools in our profession: Rent Manager.
We always try 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 shows the rental income as well as any expenses which we have paid on the rental property owner'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 marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end report. In January we send to the property owners, 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.
Alexandria Crossing Property Management Resources
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 the area?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who wants to find out more about Alexandria Crossing and surrounding communities. The Guide to Real Estate compiles information regarding what has sold and what is for sale, and a few interesting facts that you might not know. Also, our Guide spotlights some elements of living in Alexandria Crossing. As might be expected, most of this is interesting for purchasers and sellers, but real estate investors and tenants will probably also find these resources to be quite sobering.