We are very attentive with fiduciary matters.
As property managers it is our solemn charge to keep close track on 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 duty we work with one of the most powerful software tools 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 shows 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 electronically. The monthly statement will describe what reserves we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end statement. In January we mail 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 hand the 1099 to your tax preparer.
Madison Mews Property Management Resources
Basics
Basic information regarding property management in Madison Mews.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a dependable tenant in Madison Mews fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A breakdown of prices of property management services in Madison Mews
Vetting
How Nesbitt Realty checks the backgrounds of renters 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 know more about the local real estate market?
Nesbitt Realty's Guide to Real Estate is a handy resource for anyone who wants to investigate real estate facts about Madison Mews and surrounding areas. The Guide to Real Estate includes data regarding what has sold and what is for sale, as well as some shocking facts that you may not know. Furthermore, our Guide has some fundamentals of life in Madison Mews. Naturally, most of this is useful for buyers and sellers, but property owners and renters will also find these resources to be quite informative.