We are especially careful with money issues.
As rental property managers it is our duty to reconcile every penny of income and each expense. All of us work hard to make sure that every real estate investor has the tools and paperwork to understand 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.
We usually 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 rent received as well as any expenses which we have paid on the landlord's behalf. The monthly statement is also available online. The monthly statement will show what funds 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 marks up 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 statement. In January we mail the rental property owners, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Catalina 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 this local real estate market?
Our Guide to Real Estate is a helpful tool for anyone who hopes to find out more about Catalina and surrounding communities. The Guide to Real Estate includes data regarding what has sold and what is for sale, as well as many interesting facts that you might not be aware of. In addition, our Guide features some aspects of residing in Catalina. Of course, all of this is helpful for purchasers and sellers, but rental investors and tenants will likely also find this data to be very sobering.