We are extremely precise about accounting issues.
As property managers it is our solemn charge to reconcile every cent of rent and each expense. Our staff work hard to ensure that each real estate investor has the documentation to know exactly where is money is going to and coming from. To accomplish this task we employ 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 states the rental income 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 monies we are holding on behalf of the rental property owner.
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 compile the monthly statements into a year-end report. In January we send to the rental property owners, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Berkshire_Woods Property Management Resources
Basics
Fundamental information about what property management in Berkshire_Woods.
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 Berkshire_Woods fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
An overview of prices of rental management services in Berkshire_Woods
Vetting
How Nesbitt Realty checks the backgrounds of tenants for landlords.
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 the local real estate market?
Nesbitt Realty's Guide to Real Estate is a free resource for anyone who hopes to learn more about Berkshire_Woods and nearby areas. The Guide to Real Estate includes facts regarding what has sold and what is on the market, and some compelling facts that you may not know. Also, our Guide has many of the aspects of residing in Berkshire_Woods. Certainly, most of this is useful for purchasers and sellers, but real estate investors and tenants will likely also find these tools to be very eye-opening.