We are especially conscientious regarding accounting issues.
As rental managers it is our duty to keep close track on every penny of rent and each expense. Our staff work hard to make sure that each real estate investor has the opportunity to see exactly where is money is going to and coming from. To accomplish this task we employ one of the most powerful programs in the management business: Rent Manager.
We usually 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 which we have paid on the rental investor's behalf. The monthly statement is also available electronically. The statement will show what reserves we are holding on behalf of the rental 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. Annually, we compile the monthly statements into a year-end statement. In January we mail the real estate investors, 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.
Highland Park Property Management Resources
Basics
Basic info regarding rental managment in Highland Park.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a reliable tenant in Highland Park fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
An overview of fees associated with rental management services in Highland Park
Vetting
How Nesbitt Realty checks the backgrounds of tenants for landlords.
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 our area?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who needs to investigate real estate facts about Highland Park and surrounding areas. The Guide to Real Estate has data regarding what has sold and what is on the market, and a couple of shocking facts that you may not know. Not to mention, our Guide has quite a few of the benefits of life in Highland Park. Of course, all of this is interesting for buyers and sellers, but real estate investors and tenants should also find this data to be very informative.