We are very careful with accounting issues.
As rental property managers it is our solemn charge to account for every penny of income and each expense. Our staff work hard to make sure that every real estate investor has the documentation to know exactly where is income is going to and coming from. To accomplish this duty we use one of the most powerful programs in our profession: 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 bills that we have paid on the rental investor's behalf. The monthly statement is also available online. The monthly report will show what funds we are holding on behalf of the landlord.
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 compile the monthly reports into a year-end statement. In January we send to the real estate investors, 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.
Astoria Property Management Resources
Basics
Basic information regarding management services in Astoria.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a dependable tenant in Astoria fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
An overview of fees associated with rental management services in Astoria
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 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 understand more about this area?
Our Guide to Real Estate is a free tool for everyone who needs to find out more about Astoria and nearby communities. The Guide to Real Estate compiles data about what has sold and what is on the market, as well as a couple of shocking facts that you might not be aware of. Furthermore, our Guide features some elements of residing in Astoria. Yes, most of this is useful for purchasers and sellers, but rental investors and tenants should also find this data to be very informative.