We are especially conscientious regarding financial details.
As property managers it is our solemn charge to account for every penny of rent and each expense. Our team work hard to make sure that every rental investor has the documentation to see exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful programs in our profession: 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 shows the rental income as well as any bills that we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly report will describe what reserves we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly reports 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 property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Lyndhurst Rental Management Resources
Basics
Fundamental information about what management services in Lyndhurst.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a great tenant in Lyndhurst fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A list of prices of rental management in Lyndhurst
Vetting
How Nesbitt Realty checks the backgrounds of renters for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage 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 area?
Our Guide to Real Estate is a helpful resource for anyone who needs to review important real estate information about Lyndhurst and nearby communities. The Guide to Real Estate provides facts about what has sold and what is for sale, and some surprising facts that you might not be aware of. Not to mention, our Guide highlights many of the aspects of living in Lyndhurst. As a matter of course, most of this is helpful for buyers and sellers, but rental investors and renters might also find these resources to be very eye-opening.