We are especially precise about fiduciary matters.
As property managers it is our solemn charge to keep close track on every cent of rent and each expense. Our staff work relentlessly to ensure that each rental property owner has the opportunity 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 usually 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 rent received as well as any bills which we have paid on the property owner's behalf. The monthly statement is also available electronically. The statement will describe what monies we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. Furthermore, 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 statement. In January we send to the property owners, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Downtown Rental Management Resources
Basics
Basic information regarding management services in Downtown.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a reliable tenant in Downtown fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A list of fees associated with rental management services in Downtown
Vetting
How Nesbitt Realty checks the backgrounds of tenants 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.
Should you know more about this area?
Our Guide to Real Estate is a helpful tool for everyone who wants to investigate real estate facts about Downtown and neighboring areas. The Guide to Real Estate compiles information about what has sold and what is currently listed, and a few shocking facts that you might not know. Also, our Guide has some elements of life in Downtown. Of course, most of this is useful for buyers and sellers, but real estate investors and renters might also find this information to be somewhat useful.