We are very serious about money issues.
As rental property managers it is our duty to reconcile every cent of income and each expense. Our team work hard to make sure that each 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 our profession: Rent Manager.
It is our practice 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 real estate investor's behalf. The monthly statement is also available online. The monthly statement will describe what reserves we are holding on behalf of the real estate investor.
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. At the end of the year, we organize the monthly reports into a year-end report. In January we mail 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 hand the 1099 to your tax preparer.
Lafayette Park Condominium Rental Management Resources
Basics
Elementary information regarding property management in Lafayette Park Condominium.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a great tenant in Lafayette Park Condominium fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A list of fees associated with property management services in Lafayette Park Condominium
Vetting
How Nesbitt Realty vets tenants for landlords.
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 our area?
Nesbitt Realty's Guide to Real Estate is a handy tool for everyone who hopes to find out more about Lafayette Park Condominium and nearby areas. The Guide to Real Estate compiles data regarding what has sold and what is currently listed, as well as a few shocking facts that you might not know. In addition, our Guide features some elements of life in Lafayette Park Condominium. Of course, all of this is helpful for buyers and sellers, but owners and renters may also find the facts to be very enlightening.