We are very meticulous with accounting details.
As property managers it is our solemn charge to reconcile every penny of income and each expense. All of us work hard to ensure that every rental investor has the documentation to know exactly where is money is going to and coming from. To accomplish this task 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 shows the rental income as well as any bills which we have paid on the landlord's behalf. The monthly statement is also available online. The monthly report will describe what monies 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 report. In January we send to the rental investors, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Crosswoods Rental Management Resources
Basics
Fundamental information about what rental managment in Crosswoods.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a great renter in Crosswoods fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A list of fees associated with property management services in Crosswoods
Vetting
How Nesbitt Realty checks the backgrounds of renters for our clients.
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 understand more about this area?
Our Guide to Real Estate is a helpful tool for everyone who wants to review important real estate information about Crosswoods and surrounding communities. The Guide to Real Estate provides information regarding what has sold and what is on the market, and many interesting facts that you may not know. And, our Guide features some fundamentals of living in Crosswoods. Of course, all of this is helpful for buyers and sellers, but landlords and tenants might also find these tools to be very edifying.