We are especially attentive with money details.
As rental managers it is our duty to account for every penny of income and each expense. Our staff work diligently to make sure that each property owner has the opportunity to understand exactly where is income is going to and coming from. To accomplish this task we work with one of the most powerful programs in our profession: 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 shows the rental income as well as any bills which we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly report will show 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 marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements 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.
Providence Rental Management Resources
Basics
Basic information regarding management services in Providence.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a reliable renter in Providence fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
An overview of fees associated with property management services in Providence
Vetting
How Nesbitt Realty vets renters 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.
Should you know more about this community?
Our Guide to Real Estate is a handy tool for everyone who hopes to learn more about Providence and surrounding areas. The Guide to Real Estate has facts about what has sold and what is currently listed, and a couple of surprising facts that you might not know. Also, our Guide features many of the assets of residing in Providence. Certainly, all of this is helpful for purchasers and sellers, but owners and renters should also find these tools to be somewhat enlightening.