We are very careful with accounting details.
As property managers it is our solemn charge to reconcile every penny of rent and each expense. Our team work relentlessly to make sure that every property owner has the opportunity to know exactly where is income is going to and coming from. To accomplish this duty we work with one of the most powerful programs in the management business: Rent Manager.
We strive 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 states the rental income as well as any expenses that we have paid on the rental property owner's behalf. The monthly statement is also available online. The monthly statement will describe what reserves we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. In addition, 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 real estate investors, 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.
Newington Forest Rental Management Resources
Basics
Elementary information about what rental managment in Newington Forest.
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 Newington Forest fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
An overview of fees associated with rental management services in Newington Forest
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.
Do you need understand more about our area?
Nesbitt Realty's Guide to Real Estate is a helpful tool for anyone who hopes to review important real estate information about Newington Forest and nearby communities. The Guide to Real Estate provides data about what has sold and what is currently listed, and a few shocking facts that you might not know. Furthermore, our Guide has many of the elements of residing in Newington Forest. As might be expected, most of this is interesting for buyers and sellers, but rental investors and tenants will likely also find this information to be very sobering.