We are very meticulous with fiduciary details.
As property managers it is our solemn charge to account for every cent of rent and each expense. All of us work diligently to make sure that each property owner has the tools and paperwork to see exactly where is money is going to and coming from. To accomplish this duty we use one of the most powerful software tools in the management business: 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 rental income as well as any bills which we have paid on the rental investor's behalf. The monthly statement is also available electronically. The monthly report will show what funds we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Also, 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 give the 1099 to your tax preparer.
Potowmack_crossing Rental Management Resources
Basics
Fundamental information regarding management services in Potowmack_crossing.
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 Potowmack_crossing fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
An overview of fees associated with rental management in Potowmack_crossing
Vetting
How Nesbitt Realty checks the backgrounds of renters for our clients.
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 know more about this area?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who wants to investigate real estate facts about Potowmack_crossing and neighboring communities. The Guide to Real Estate has facts about what has sold and what is currently listed, as well as many compelling facts that you might not be aware of. Also, our Guide features many of the fundamentals of living in Potowmack_crossing. Naturally, all of this is helpful for purchasers and sellers, but property owners and tenants may also find these tools to be somewhat eye-opening.