We are extremely careful with money details.
As rental property managers it is our duty to reconcile every penny of rent and each expense. Our team work relentlessly to ensure that each rental investor has the opportunity to know exactly where is income is going to and coming from. To accomplish this duty 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. Rents are deposited into an escrow account (not into our operating account). We prepare a monthly statement that states the rental income as well as any bills that we have paid on the real estate investor's behalf. The monthly statement is also available electronically. The monthly report will describe what funds we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we organize the monthly statements into a year-end report. In January we mail the real estate 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.
Annandale_Woods Property Management Resources
Basics
Basic info regarding property management in Annandale_Woods.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a great tenant in Annandale_Woods fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
An overview of prices of rental management services in Annandale_Woods
Vetting
How Nesbitt Realty vets tenants 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.
Should you understand more about the local real estate market?
Our Guide to Real Estate is a handy resource for anyone who wants to learn more about Annandale_Woods and nearby areas. The Guide to Real Estate has facts about what has sold and what is currently listed, and many compelling facts that you may not know. Also, our Guide has some fundamentals of residing in Annandale_Woods. Of course, most of this is useful for purchasers and sellers, but owners and tenants will also find this data to be somewhat eye-opening.