We are especially meticulous with fiduciary issues.
As property managers it is our solemn charge to keep close track on every penny of income and each expense. Our team work relentlessly to ensure that each real estate investor has the opportunity to see exactly where is money is going to and coming from. To accomplish this task we employ one of the most powerful software tools in the management business: Rent Manager.
We strive 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 rental income as well as any bills which we have paid on the rental investor's behalf. The monthly statement is also available electronically. The monthly report will describe what monies we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we organize the monthly reports into a year-end statement. In January we send to the landlords, 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.
Ballston Rental Management Resources
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 community?
Nesbitt Realty's Guide to Real Estate is a helpful resource for everyone who hopes to review important real estate information about Ballston and neighboring areas. The Guide to Real Estate provides facts about what has sold and what is for sale, as well as many compelling facts that you might not be aware of. Also, our Guide has some benefits of residing in Ballston. As might be expected, all of this is interesting for buyers and sellers, but landlords and renters might also find the facts to be very useful.