We are very serious about accounting details.
As property managers it is our duty to keep close track on every cent of rent and each expense. Our team work diligently to ensure that each property owner has the opportunity to understand exactly where is money is going to and coming from. To accomplish this task we work with one of the most powerful software tools in the management business: 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 states the rental income as well as any bills that we have paid on the real estate investor's behalf. The monthly statement is also available online. The monthly report will describe what monies we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. In addition, 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 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.
Lakeside Estates Property Management Resources
Basics
Basic information regarding rental managment in Lakeside Estates.
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 Lakeside Estates fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
An overview of fees associated with property management services in Lakeside Estates
Vetting
How Nesbitt Realty checks the backgrounds of renters for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rentals?
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?
Our Guide to Real Estate is a free tool for anyone who wants to investigate real estate facts about Lakeside Estates and neighboring areas. The Guide to Real Estate compiles facts about what has sold and what is on the market, as well as a few shocking facts that you may not be aware of. Not to mention, our Guide spotlights quite a few of the fundamentals of living in Lakeside Estates. As might be expected, all of this is useful for buyers and sellers, but property owners and tenants might also find this information to be somewhat enlightening.