We are very serious about money issues.
As property managers it is our duty to account for every penny of rent and each expense. All of us work relentlessly to ensure that each property owner has the tools and paperwork to understand 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.
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 bills which we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly statement will show what monies we are holding on behalf of the rental property owner.
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. Annually, we compile the monthly statements 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.
Seven Corners Property Management Resources
Basics
Elementary information regarding rental managment in Seven Corners.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a dependable renter in Seven Corners fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
An overview of fees associated with rental management in Seven Corners
Vetting
How Nesbitt Realty vets tenants for property owners.
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 local real estate market?
Our Guide to Real Estate is a free resource for anyone who wants to review important real estate information about Seven Corners and neighboring areas. The Guide to Real Estate includes facts regarding what has sold and what is on the market, and some surprising facts that you might not be aware of. Furthermore, our Guide highlights quite a few of the benefits of living in Seven Corners. As a matter of course, all of this is useful for purchasers and sellers, but landlords and renters may also find this data to be quite sobering.