We are especially attentive with financial details.
As rental property managers it is our duty to keep close track on every penny of rent and each expense. Our staff work hard to make sure that every real estate investor has the opportunity to understand 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 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 online. The statement will describe what reserves we are holding on behalf of the rental investor.
There is no additional charge for the reports or the accounting. Not to mention, 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 statements into a year-end report. In January we mail the property owners, 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.
The Great Hamptons Rental Management Resources
Basics
Fundamental info regarding management services in The Great Hamptons.
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 The Great Hamptons fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
An overview of fees associated with property management services in The Great Hamptons
Vetting
How Nesbitt Realty vets renters 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.
Do you need know more about the area?
Our Guide to Real Estate is a free resource for everyone who wants to investigate real estate facts about The Great Hamptons and surrounding communities. The Guide to Real Estate has information about what has sold and what is currently listed, as well as a few shocking facts that you might not be aware of. Not to mention, our Guide spotlights many of the aspects of residing in The Great Hamptons. Of course, most of this is helpful for purchasers and sellers, but landlords and tenants should also find these tools to be very sobering.