We are very attentive with accounting matters.
As rental managers it is our duty to keep close track on every cent of income and each expense. All of us work hard to make sure that each property owner has the tools and paperwork to know exactly where is money is going to and coming from. To accomplish this task 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 shows the rental income as well as any expenses which we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly statement will show what funds 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. Annually, we organize the monthly reports into a year-end statement. In January we send to the property owners, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Penrose Rental Management Resources
Basics
Elementary information about what property management in Penrose.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a reliable renter in Penrose fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A breakdown of prices of rental management services in Penrose
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.
Do you need know more about our local real estate market?
Our Guide to Real Estate is a handy resource for anyone who needs to find out more about Penrose and nearby areas. The Guide to Real Estate provides data about what has sold and what is on the market, and many surprising facts that you might not be aware of. In addition, our Guide spotlights quite a few of the assets of living in Penrose. Naturally, all of this is interesting for buyers and sellers, but landlords and tenants will likely also find these resources to be quite enlightening.