We are extremely precise about accounting matters.
As rental managers it is our solemn charge to account for every cent of income and each expense. All of us work hard to ensure that every rental property owner has the documentation to understand exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful software tools in our profession: Rent Manager.
It is our practice 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 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 online. The monthly report will describe what reserves we are holding on behalf of the real estate 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. Annually, we organize the monthly reports into a year-end report. 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.
Odyssey Rental Management Resources
Basics
Fundamental info regarding property management in Odyssey.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a dependable renter in Odyssey fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A list of prices of rental management services in Odyssey
Vetting
How Nesbitt Realty vets tenants for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rentals?
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 this area?
Nesbitt Realty's Guide to Real Estate is a handy tool for anyone who needs to investigate real estate facts about Odyssey and nearby areas. The Guide to Real Estate provides facts regarding what has sold and what is currently listed, as well as some shocking facts that you may not be aware of. Not to mention, our Guide spotlights quite a few of the assets of living in Odyssey. As might be expected, most of this is helpful for purchasers and sellers, but property owners and renters will likely also find these tools to be somewhat informative.