We are extremely meticulous with fiduciary details.
As rental property managers it is our duty to reconcile every cent of rent and each expense. All of us work relentlessly to make sure that each rental property owner has the opportunity to see exactly where is income is going to and coming from. To accomplish this duty we work with one of the most powerful software tools 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 expenses that we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly statement will show what funds we are holding on behalf of the property owner.
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. Annually, we organize the monthly reports into a year-end report. In January we mail the property owners, 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.
Fox Lake Rental Management Resources
Basics
Basic information about what rental managment in Fox Lake.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a reliable tenant in Fox Lake fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A breakdown of fees associated with rental management in Fox Lake
Vetting
How Nesbitt Realty vets tenants for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rentals?
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 know more about this community?
Our Guide to Real Estate is a free resource for everyone who hopes to learn more about Fox Lake and surrounding areas. The Guide to Real Estate provides information about what has sold and what is on the market, and a few interesting facts that you may not be aware of. Furthermore, our Guide spotlights quite a few of the benefits of life in Fox Lake. Yes, most of this is interesting for buyers and sellers, but real estate investors and renters will likely also find this data to be somewhat eye-opening.