We are especially conscientious regarding fiduciary details.
As property managers it is our duty to account for every cent of income and each expense. All of us work hard to ensure that each real estate investor has the opportunity to know exactly where is money 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 strive to 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 rental investor's behalf. The monthly statement is also available online. The monthly report will describe what monies we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we organize 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 rental. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Dunn Loring 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 know more about the area?
Our Guide to Real Estate is a helpful tool for anyone who needs to review important real estate information about Dunn Loring and neighboring areas. The Guide to Real Estate has information about what has sold and what is currently listed, as well as a couple of surprising facts that you may not know. Not to mention, our Guide spotlights quite a few of the benefits of life in Dunn Loring. As a matter of course, all of this is helpful for buyers and sellers, but real estate investors and renters may also find these resources to be quite useful.