We are especially precise about accounting details.
As rental managers it is our duty to account for every penny of rent and each expense. All of us work diligently to make sure that every real estate investor has the opportunity to know exactly where is income is going to and coming from. To accomplish this duty we use 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. 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 landlord's behalf. The monthly statement is also available online. The monthly statement will show what monies we are holding on behalf of the rental 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. At the end of the year, we compile 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 rental. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Fairfax_Station Rental Management Resources
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 our local real estate market?
Nesbitt Realty's Guide to Real Estate is a free tool for everyone who hopes to review important real estate information about Fairfax_Station and neighboring communities. The Guide to Real Estate compiles information regarding what has sold and what is for sale, and a couple of interesting facts that you might not be aware of. Not to mention, our Guide spotlights quite a few of the fundamentals of living in Fairfax_Station. Of course, all of this is interesting for purchasers and sellers, but landlords and renters will also find these tools to be somewhat enlightening.