We are especially serious about money issues.
As rental property managers it is our duty to keep close track on every cent of rent and each expense. Our team work hard to ensure that each rental investor has the opportunity to know exactly where is income is going to and coming from. To accomplish this task we work with one of the most powerful programs in the management business: Rent Manager.
We always try 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 shows the rental income as well as any expenses which we have paid on the rental investor's behalf. The monthly statement is also available online. The monthly report will show what reserves we are holding on behalf of the real estate investor.
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. Annually, we organize the monthly statements into a year-end statement. In January we mail the rental investors, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Luray Rental Management Resources
Basics
Elementary info regarding rental managment in Luray.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a great renter in Luray fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A list of prices of rental management services in Luray
Vetting
How Nesbitt Realty vets tenants for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental property?
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 need understand more about the community?
Our Guide to Real Estate is a free tool for anyone who needs to learn more about Luray and surrounding areas. The Guide to Real Estate provides data about what has sold and what is currently listed, and a couple of surprising facts that you may not know. Not to mention, our Guide features some elements of living in Luray. Of course, most of this is helpful for buyers and sellers, but rental investors and tenants will likely also find the facts to be quite enlightening.