We are extra precise about accounting issues.
As rental managers it is our duty to account for every penny of rent and each expense. All of us work relentlessly to make sure that each landlord has the documentation to understand exactly where is income is going to and coming from. To accomplish this task we work with one of the most powerful programs in our profession: Rent Manager.
We always try 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 shows the rent received as well as any expenses that we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The monthly report will describe what monies we are holding on behalf of the real estate investor.
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. At the end of the year, we organize the monthly reports into a year-end report. In January we send to the landlords, 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.
Garfield_park Property Management Resources
Basics
Fundamental information regarding management services in Garfield_park.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a reliable tenant in Garfield_park fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A list of prices of property management services in Garfield_park
Vetting
How Nesbitt Realty checks the backgrounds of 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 understand more about our area?
Nesbitt Realty's Guide to Real Estate is a free resource for everyone who hopes to find out more about Garfield_park and surrounding areas. The Guide to Real Estate has information about what has sold and what is currently listed, and a couple of shocking facts that you may not know. Not to mention, our Guide spotlights some benefits of living in Garfield_park. Of course, most of this is helpful for purchasers and sellers, but landlords and tenants might also find this information to be somewhat informative.