We are very attentive with accounting matters.
As property managers it is our solemn charge to reconcile every cent of income and each expense. All of us work hard to ensure that every rental investor has the tools and paperwork to know exactly where is money is going to and coming from. To accomplish this task we employ one of the most powerful software tools in the management business: Rent Manager.
We always try 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 expenses that we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly report will describe what funds we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. In addition, 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 statements into a year-end statement. In January we send to the rental 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.
West_Springfield Property Management Resources
Basics
Basic information regarding property management in West_Springfield.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a reliable renter in West_Springfield fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A breakdown of prices of rental management services in West_Springfield
Vetting
How Nesbitt Realty vets tenants for property owners.
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 this community?
Nesbitt Realty's Guide to Real Estate is a helpful resource for everyone who wants to investigate real estate facts about West_Springfield and surrounding communities. The Guide to Real Estate compiles facts regarding what has sold and what is on the market, and many shocking facts that you may not know. And, our Guide highlights quite a few of the elements of living in West_Springfield. Definitely, most of this is helpful for purchasers and sellers, but property owners and tenants might also find this information to be quite eye-opening.