We are especially careful with financial matters.
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 rental investor has the tools and paperwork to understand exactly where is income is going to and coming from. To accomplish this duty we use one of the most powerful programs in the management business: Rent Manager.
We always try to 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 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 statement will show what funds we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. Also, 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 statement. In January we mail the rental investors, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
West End Rental Management Resources
Basics
Basic info regarding rental managment in West End.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a reliable renter in West End fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A list of prices of rental management in West End
Vetting
How Nesbitt Realty vets renters for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental 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.
Should you understand more about our local real estate market?
Nesbitt Realty's Guide to Real Estate is a free tool for everyone who hopes to review important real estate information about West End and nearby communities. The Guide to Real Estate provides data regarding what has sold and what is on the market, and many compelling facts that you might not know. In addition, our Guide highlights quite a few of the fundamentals of life in West End. As a matter of course, most of this is useful for purchasers and sellers, but rental investors and renters will likely also find the facts to be quite useful.