We are very precise about financial matters.
As rental property managers it is our solemn charge to account for every cent of income and each expense. All of us work relentlessly to make sure that each landlord has the documentation to know exactly where is income is going to and coming from. To accomplish this duty we work with one of the most powerful programs 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 rent received as well as any bills that we have paid on the landlord's behalf. The monthly statement is also available online. The monthly statement will describe what monies we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never pads the price on 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 real estate investors, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Harrisonburg 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 our community?
Our Guide to Real Estate is a handy tool for anyone who hopes to learn more about Harrisonburg and nearby communities. The Guide to Real Estate provides facts about what has sold and what is currently listed, and some compelling facts that you might not be aware of. Also, our Guide features many of the fundamentals of living in Harrisonburg. Of course, most of this is helpful for buyers and sellers, but rental investors and tenants should also find this information to be somewhat useful.