We are especially attentive with accounting details.
As rental property managers it is our solemn charge to keep close track on every penny of income and each expense. All of us work diligently to make sure that each rental property owner has the documentation to know exactly where is money is going to and coming from. To accomplish this duty we employ one of the most powerful software tools in our profession: 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 shows 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 show what funds 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. At the end of the year, we compile the monthly reports into a year-end statement. In January we send to the rental property owners, 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.
North Ridge Rental Management Resources
Basics
Fundamental info regarding rental managment in North Ridge.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a dependable tenant in North Ridge fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
An overview of fees associated with rental management in North Ridge
Vetting
How Nesbitt Realty vets 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.
Do you need understand more about our area?
Our Guide to Real Estate is a handy tool for anyone who wants to review important real estate information about North Ridge and surrounding areas. The Guide to Real Estate provides data regarding what has sold and what is currently listed, and many shocking facts that you may not be aware of. And, our Guide spotlights many of the elements of residing in North Ridge. Of course, most of this is useful for buyers and sellers, but property owners and tenants may also find these resources to be quite edifying.