We are extremely conscientious regarding accounting details.
As rental managers it is our duty to keep close track on every cent of rent and each expense. Our team work relentlessly to ensure that every rental investor has the tools and paperwork to know exactly where is money is going to and coming from. To accomplish this task we use one of the most powerful software tools in the management business: Rent Manager.
It is our practice 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 which we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The monthly statement will show what monies we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. Furthermore, 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 statement. In January we mail the landlords, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Potomac Estates Rental Management Resources
Basics
Elementary info regarding rental managment in Potomac Estates.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a reliable tenant in Potomac Estates fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A breakdown of prices of rental management in Potomac Estates
Vetting
How Nesbitt Realty checks the backgrounds of tenants for our clients.
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 want know more about our area?
Nesbitt Realty's Guide to Real Estate is a helpful resource for everyone who needs to investigate real estate facts about Potomac Estates and nearby areas. The Guide to Real Estate has information regarding what has sold and what is on the market, as well as a couple of interesting facts that you might not be aware of. In addition, our Guide highlights many of the aspects of residing in Potomac Estates. Of course, most of this is helpful for buyers and sellers, but landlords and tenants will also find these resources to be somewhat sobering.