How We Account For Rents and Expenditures For Our Management Clients

As rental managers it is our solemn charge to account for every cent of income and each expense. Our staff work relentlessly to make sure that every landlord has the tools and paperwork to know exactly where is income is going to and coming from. To accomplish this duty we work with one of the most powerful programs in our profession: Rent Manager.

It is our practice to 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 expenses which we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The statement will show what funds 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. Annually, we compile the monthly reports into a year-end statement.  In January we mail the real estate investors, 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.