We are extremely conscientious regarding financial details.
As rental managers it is our duty to reconcile every penny of income and each expense. Our team work diligently to make sure that each real estate investor has the documentation to understand exactly where is income 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 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 real estate investor's behalf. The monthly statement is also available online. The monthly statement will describe what funds we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. Also, 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 mail the landlords, 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.
Lyon_park Rental Management Resources
Basics
Basic information about what property management in Lyon_park.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a dependable tenant in Lyon_park fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A list of prices of property management services in Lyon_park
Vetting
How Nesbitt Realty checks the backgrounds of tenants for landlords.
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 understand more about this community?
Nesbitt Realty's Guide to Real Estate is a free tool for anyone who wants to learn more about Lyon_park and nearby communities. The Guide to Real Estate compiles facts regarding what has sold and what is on the market, and many surprising facts that you may not know. In addition, our Guide highlights many of the elements of life in Lyon_park. Naturally, most of this is helpful for purchasers and sellers, but real estate investors and renters will likely also find the facts to be very edifying.