We are extra meticulous with accounting issues.
As property managers it is our duty to reconcile every penny of income and each expense. Our staff work diligently to make sure that each property owner has the opportunity 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 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 states the rental income as well as any expenses that we have paid on the rental investor's behalf. The monthly statement is also available online. The statement will show what reserves we are holding on behalf of the rental investor.
There is no additional charge for the reports or the accounting. And, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we compile the monthly reports into a year-end statement. In January we send to the rental investors, 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.
Torpedo_factory Property Management Resources
Basics
Fundamental information regarding rental managment in Torpedo_factory.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a dependable renter in Torpedo_factory fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A breakdown of prices of rental management services in Torpedo_factory
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 property?
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 know more about this area?
Our Guide to Real Estate is a free resource for anyone who wants to find out more about Torpedo_factory and surrounding communities. The Guide to Real Estate has information about what has sold and what is currently listed, and many surprising facts that you might not be aware of. In addition, our Guide has quite a few of the assets of residing in Torpedo_factory. Of course, all of this is helpful for purchasers and sellers, but real estate investors and tenants will likely also find this information to be very enlightening.