We are extra precise about accounting issues.
As property managers it is our solemn charge to reconcile every penny of income and each expense. Our team work relentlessly to make sure that every landlord has the opportunity to understand exactly where is income is going to and coming from. To accomplish this task we employ one of the most powerful programs in the management business: 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 expenses which we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The monthly report will show what monies we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Also, 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 report. In January we mail the landlords, 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.
Navy Property Management Resources
Basics
Elementary info about what property management in Navy.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a reliable tenant in Navy fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A breakdown of prices of property management services in Navy
Vetting
How Nesbitt Realty vets tenants for our clients.
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 want understand more about this area?
Nesbitt Realty's Guide to Real Estate is a free resource for everyone who wants to find out more about Navy and neighboring communities. The Guide to Real Estate provides facts regarding what has sold and what is currently listed, as well as many surprising facts that you may not be aware of. And, our Guide features many of the elements of life in Navy. As a matter of course, most of this is useful for buyers and sellers, but owners and tenants should also find this data to be quite sobering.