We are very meticulous with accounting issues.
As rental managers it is our duty to keep close track on every cent of rent and each expense. Our team work hard to make sure that each real estate investor has the documentation to see exactly where is income is going to and coming from. To accomplish this duty we employ 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 states the rent received as well as any expenses that we have paid on the landlord's behalf. The monthly statement is also available online. The monthly statement will show what funds we are holding on behalf of the rental investor.
There is no additional charge for the reports or the accounting. Furthermore, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly statements into a year-end report. In January we send to the rental property owners, 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.
Westmoreland_terrace_condo Rental Management Resources
Basics
Elementary information about what management services in Westmoreland_terrace_condo.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a great tenant in Westmoreland_terrace_condo fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A list of fees associated with rental management services in Westmoreland_terrace_condo
Vetting
How Nesbitt Realty checks the backgrounds of tenants for property owners.
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 know more about the area?
Our Guide to Real Estate is a handy resource for everyone who wants to learn more about Westmoreland_terrace_condo and surrounding areas. The Guide to Real Estate has data regarding what has sold and what is for sale, as well as a couple of interesting facts that you might not be aware of. And, our Guide spotlights quite a few of the fundamentals of residing in Westmoreland_terrace_condo. Definitely, most of this is useful for buyers and sellers, but owners and tenants will likely also find the facts to be very eye-opening.