We are extra conscientious regarding fiduciary details.
As property managers it is our solemn charge to account for every penny of income and each expense. All of us work relentlessly to ensure that every rental investor has the tools and paperwork to know exactly where is money is going to and coming from. To accomplish this task we use one of the most powerful programs in our profession: 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 states the rental income as well as any bills that we have paid on the rental investor's behalf. The monthly statement is also available online. The monthly report will describe what reserves we are holding on behalf of the landlord.
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. At the end of the year, we organize the monthly statements into a year-end report. In January we send to the property owners, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Frederick County Rental Management Resources
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 this area?
Nesbitt Realty's Guide to Real Estate is a free resource for everyone who hopes to review important real estate information about Frederick County and surrounding communities. The Guide to Real Estate compiles data regarding what has sold and what is currently listed, as well as a few surprising facts that you may not be aware of. Not to mention, our Guide has quite a few of the fundamentals of life in Frederick County. Of course, all of this is interesting for purchasers and sellers, but real estate investors and renters may also find these resources to be very sobering.