We are extra careful with accounting matters.
As property 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 money is going to and coming from. To accomplish this duty we work with one of the most powerful software tools in the management business: Rent Manager.
It is our practice 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 bills that we have paid on the rental investor's behalf. The monthly statement is also available electronically. The monthly report will show what monies we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. And, 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 reports into a year-end report. In January we mail the real estate investors, 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.
Lexington_Square Property Management Resources
Basics
Fundamental information regarding property management in Lexington_Square.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a reliable tenant in Lexington_Square fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
An overview of fees associated with rental management services in Lexington_Square
Vetting
How Nesbitt Realty vets tenants for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental investments?
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 the area?
Nesbitt Realty's Guide to Real Estate is a helpful tool for everyone who needs to find out more about Lexington_Square and neighboring areas. The Guide to Real Estate provides data regarding what has sold and what is for sale, and a few shocking facts that you may not be aware of. And, our Guide spotlights quite a few of the fundamentals of life in Lexington_Square. Of course, most of this is useful for purchasers and sellers, but landlords and tenants will likely also find this data to be quite edifying.