We are especially careful with money matters.
As property managers it is our solemn charge to account for every penny of income and each expense. Our team work relentlessly to make sure that each real estate investor has the documentation to see exactly where is income is going to and coming from. To accomplish this duty we employ 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. Rents 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 property owner's behalf. The monthly statement is also available electronically. 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. Not to mention, Nesbitt Realty never pads the price on 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 send to the real estate investors, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Clifton Rental Management Resources
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?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who needs to learn more about Clifton and neighboring communities. The Guide to Real Estate provides facts about what has sold and what is on the market, as well as some compelling facts that you may not know. Furthermore, our Guide features many of the fundamentals of life in Clifton. As a matter of course, most of this is useful for buyers and sellers, but landlords and renters may also find this data to be quite useful.