We are very precise about financial issues.
As rental managers it is our solemn charge to keep close track on every penny of rent and each expense. Our team work hard to ensure that every rental property owner has the documentation to know exactly where is income is going to and coming from. To accomplish this task we work with one of the most powerful programs in our profession: 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 shows the rent received 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 reserves we are holding on behalf of the rental property owner.
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. Annually, we compile the monthly reports into a year-end statement. In January we send to the landlords, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Burke_Manor Property Management Resources
Basics
Elementary information regarding property management in Burke_Manor.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a great renter in Burke_Manor 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 Burke_Manor
Vetting
How Nesbitt Realty vets tenants for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental 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.
Do you need know more about our area?
Our Guide to Real Estate is a free resource for everyone who wants to learn more about Burke_Manor and neighboring areas. The Guide to Real Estate compiles data regarding what has sold and what is on the market, and many compelling facts that you might not know. In addition, our Guide highlights quite a few of the elements of life in Burke_Manor. As a matter of course, all of this is interesting for buyers and sellers, but property owners and tenants will also find this data to be very useful.