We are extremely meticulous with accounting issues.
As rental property managers it is our duty to reconcile every penny of income and each expense. Our staff work hard to make sure that every real estate investor has the tools and paperwork to know exactly where is income is going to and coming from. To accomplish this duty we employ one of the most powerful programs 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 states the rent received as well as any expenses which we have paid on the real estate investor's behalf. The monthly statement is also available electronically. The monthly report will describe what monies we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. And, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we organize the monthly statements into a year-end report. In January we mail the rental 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.
The Wooster And Mercer Lofts Property Management Resources
Basics
Fundamental information regarding property management in The Wooster And Mercer Lofts.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a great tenant in The Wooster And Mercer Lofts fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A breakdown of prices of property management services in The Wooster And Mercer Lofts
Vetting
How Nesbitt Realty vets tenants for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage property?
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 our community?
Nesbitt Realty's Guide to Real Estate is a helpful tool for anyone who wants to learn more about The Wooster And Mercer Lofts and neighboring communities. The Guide to Real Estate includes information about what has sold and what is currently listed, and a couple of shocking facts that you may not know. Not to mention, our Guide has quite a few of the benefits of residing in The Wooster And Mercer Lofts. Certainly, most of this is useful for buyers and sellers, but property owners and renters will likely also find these resources to be very sobering.