We are especially precise about money details.
As rental property managers it is our duty to reconcile every penny of income and each expense. Our staff work diligently to make sure that each landlord has the opportunity to see exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful programs in our profession: 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 rent received as well as any bills that we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The statement will show what monies we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly statements into a year-end report. In January we mail the landlords, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Shenandoah 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 know more about this local real estate market?
Our Guide to Real Estate is a free resource for everyone who wants to review important real estate information about Shenandoah and neighboring areas. The Guide to Real Estate has information regarding what has sold and what is currently listed, and a couple of interesting facts that you might not be aware of. In addition, our Guide spotlights quite a few of the aspects of living in Shenandoah. Definitely, most of this is interesting for purchasers and sellers, but property owners and renters will likely also find this information to be quite sobering.