We are very meticulous with accounting issues.
As rental managers it is our duty to reconcile every penny of income and each expense. All of us work hard to ensure that each rental property owner has the documentation to understand exactly where is money is going to and coming from. To accomplish this duty we work with 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. 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 bills which we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The statement will describe what funds we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Not to mention, 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 statement. In January we send to the rental investors, 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_phoenix Rental Management Resources
Basics
Elementary info regarding management services in The_phoenix.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a reliable tenant in The_phoenix fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A breakdown of fees associated with rental management services in The_phoenix
Vetting
How Nesbitt Realty checks the backgrounds of tenants for property owners.
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.
Should you know more about our area?
Our Guide to Real Estate is a handy resource for everyone who needs to learn more about The_phoenix and neighboring areas. The Guide to Real Estate compiles facts regarding what has sold and what is currently listed, and a few surprising facts that you may not know. And, our Guide features many of the assets of living in The_phoenix. As might be expected, all of this is useful for buyers and sellers, but landlords and renters may also find these resources to be somewhat enlightening.