We are extremely conscientious regarding financial issues.
As rental managers it is our solemn charge to account for every cent of rent and each expense. Our staff work hard to ensure that every landlord has the tools and paperwork to understand exactly where is income is going to and coming from. To accomplish this duty we use one of the most powerful programs in the management business: Rent Manager.
We usually 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 that we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly report will describe what reserves we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. Furthermore, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements 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 hand the 1099 to your tax preparer.
Odyssey Rental Management Resources
Basics
Elementary info about what property management in Odyssey.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a dependable renter in Odyssey fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A list of prices of property management services in Odyssey
Vetting
How Nesbitt Realty checks the backgrounds of renters 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.
Do you need know more about this community?
Our Guide to Real Estate is a free resource for everyone who wants to learn more about Odyssey and neighboring communities. The Guide to Real Estate compiles facts about what has sold and what is for sale, as well as some interesting facts that you may not know. Furthermore, our Guide features many of the elements of living in Odyssey. As a matter of course, most of this is useful for buyers and sellers, but owners and renters will also find these resources to be quite sobering.