We are extra precise about accounting details.
As rental property managers it is our duty to reconcile every penny of rent and each expense. Our staff work hard to make sure that every property owner has the opportunity to understand exactly where is money is going to and coming from. To accomplish this duty we use one of the most powerful programs in the management business: 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 shows the rent received as well as any bills that we have paid on the landlord's behalf. The monthly statement is also available online. The monthly statement will show what reserves 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 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 rental investors, 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.
Faircrest Property Management Resources
Basics
Fundamental information regarding property management in Faircrest.
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 Faircrest 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 Faircrest
Vetting
How Nesbitt Realty vets renters for property owners.
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.
Should you know more about the local real estate market?
Nesbitt Realty's Guide to Real Estate is a handy resource for everyone who needs to review important real estate information about Faircrest and neighboring areas. The Guide to Real Estate compiles information regarding what has sold and what is on the market, as well as many interesting facts that you may not know. Furthermore, our Guide highlights some benefits of life in Faircrest. Of course, most of this is helpful for buyers and sellers, but property owners and renters will likely also find these resources to be very sobering.