We are very attentive with accounting matters.
As rental managers it is our solemn charge to reconcile every cent of rent and each expense. All of us work diligently to make sure that every rental property owner has the opportunity to understand exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful programs in our profession: Rent Manager.
It is our practice 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 bills that we have paid on the landlord's behalf. The monthly statement is also available electronically. The statement will describe what reserves we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. Furthermore, Nesbitt Realty never marks up 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 real estate investors, 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.
Paramount Rental Management Resources
Basics
Basic info about what management services in Paramount.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a great tenant in Paramount fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A list of fees associated with property management services in Paramount
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 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.
Should you know more about the local real estate market?
Nesbitt Realty's Guide to Real Estate is a helpful tool for everyone who hopes to investigate real estate facts about Paramount and nearby areas. The Guide to Real Estate includes facts regarding what has sold and what is currently listed, and some compelling facts that you may not be aware of. Also, our Guide highlights many of the elements of residing in Paramount. Yes, all of this is useful for purchasers and sellers, but owners and tenants will also find these resources to be quite sobering.