We are especially serious about fiduciary issues.
As rental property managers it is our duty to account for every cent of income and each expense. Our staff work hard to ensure that every landlord has the opportunity to understand exactly where is money is going to and coming from. To accomplish this task we use one of the most powerful software tools in our profession: 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 rental income as well as any expenses that 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 rental investor.
There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. At the end of the year, we organize the monthly statements into a year-end statement. In January we mail the real estate investors, 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.
Westmoreland Square Property Management Resources
Basics
Fundamental information about what rental managment in Westmoreland Square.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a great tenant in Westmoreland Square fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A list of fees associated with rental management in Westmoreland Square
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 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.
Do you want understand more about the local real estate market?
Our Guide to Real Estate is a handy resource for anyone who hopes to investigate real estate facts about Westmoreland Square and neighboring communities. The Guide to Real Estate includes information about what has sold and what is currently listed, and a couple of compelling facts that you might not know. Not to mention, our Guide highlights some elements of living in Westmoreland Square. Of course, all of this is useful for purchasers and sellers, but landlords and tenants should also find these tools to be somewhat eye-opening.