We are extremely serious about financial issues.
As rental property managers it is our duty to reconcile every cent of rent and each expense. Our staff work hard to make sure that each rental investor has the documentation 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 our profession: Rent Manager.
We usually 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 rental income 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 landlord.
There is no additional charge for the reports or the accounting. And, 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 report. In January we send to 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 give the 1099 to your tax preparer.
Foxstone Property Management Resources
Basics
Elementary information regarding property management in Foxstone.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a dependable renter in Foxstone 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 Foxstone
Vetting
How Nesbitt Realty vets renters for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental investments?
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 understand more about the community?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who hopes to review important real estate information about Foxstone and neighboring communities. The Guide to Real Estate compiles data regarding what has sold and what is for sale, as well as a couple of interesting facts that you might not be aware of. And, our Guide features quite a few of the fundamentals of living in Foxstone. Definitely, all of this is interesting for purchasers and sellers, but landlords and renters will probably also find the facts to be very eye-opening.