We are very conscientious regarding accounting matters.
As property managers it is our duty to keep close track on every penny of income and each expense. Our team work relentlessly to ensure that every landlord has the tools and paperwork to see exactly where is income is going to and coming from. To accomplish this duty we employ one of the most powerful programs 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 states the rent received as well as any bills that we have paid on the rental property owner's behalf. The monthly statement is also available online. The monthly report will describe what funds we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never marks up 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 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.
Springfield Property Management Resources
Basics
Basic information regarding rental managment in Springfield.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a great renter in Springfield fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A breakdown of fees associated with rental management services in Springfield
Vetting
How Nesbitt Realty checks the backgrounds of renters for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental 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.
Should you know more about our community?
Our Guide to Real Estate is a helpful tool for anyone who hopes to investigate real estate facts about Springfield and neighboring communities. The Guide to Real Estate has facts about what has sold and what is on the market, and a few surprising facts that you may not know. Not to mention, our Guide has quite a few of the benefits of residing in Springfield. Of course, all of this is interesting for buyers and sellers, but rental investors and renters should also find these tools to be very edifying.