We are extra conscientious regarding fiduciary details.
As property managers it is our solemn charge to reconcile every penny of income and each expense. All of us work relentlessly to make sure that each real estate investor has the opportunity to see exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful software tools in the management business: Rent Manager.
We strive 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 expenses that we have paid on the rental investor's behalf. The monthly statement is also available electronically. The statement will describe what monies we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. And, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we compile 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 give the 1099 to your tax preparer.
Lake Barcroft Property Management Resources
Basics
Basic info regarding property management in Lake Barcroft.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a dependable tenant in Lake Barcroft fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
An overview of fees associated with rental management services in Lake Barcroft
Vetting
How Nesbitt Realty vets tenants for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental investments?
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 understand more about this area?
Our Guide to Real Estate is a free resource for everyone who hopes to find out more about Lake Barcroft and surrounding communities. The Guide to Real Estate provides information about what has sold and what is on the market, and some interesting facts that you might not be aware of. Also, our Guide has some assets of living in Lake Barcroft. Of course, all of this is interesting for purchasers and sellers, but rental investors and renters might also find these resources to be very edifying.