We are very conscientious regarding fiduciary details.
As property managers it is our solemn charge to account for every penny of rent and each expense. Our team work hard to ensure that each rental property owner has the opportunity to know exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful programs in the management business: Rent Manager.
We strive to 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 rent received as well as any bills that we have paid on the real estate investor's behalf. The monthly statement is also available electronically. The monthly statement will show what funds we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we organize the monthly reports into a year-end statement. 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 give the 1099 to your tax preparer.
Middletown Property 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 know more about this community?
Nesbitt Realty's Guide to Real Estate is a free resource for everyone who hopes to investigate real estate facts about Middletown and nearby areas. The Guide to Real Estate includes information about what has sold and what is on the market, as well as a few interesting facts that you might not be aware of. And, our Guide features many of the benefits of life in Middletown. Yes, all of this is interesting for buyers and sellers, but landlords and renters should also find these resources to be very informative.