We are extremely attentive with accounting details.
As property managers it is our duty to account for every cent of rent and each expense. All of us work diligently to ensure that every real estate investor has the documentation to see exactly where is income is going to and coming from. To accomplish this duty we work with one of the most powerful programs in the management business: Rent Manager.
It is our practice 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 expenses that we have paid on the landlord's behalf. The monthly statement is also available online. The monthly statement will describe what funds we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. And, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. At the end of the year, we organize the monthly reports into a year-end report. In January we send to the rental property owners, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Dumfries Property Management Resources
Basics
Basic info about what management services in Dumfries.
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 Dumfries fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A breakdown of fees associated with property management services in Dumfries
Vetting
How Nesbitt Realty vets renters for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental investments?
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.
Should you understand more about the local real estate market?
Our Guide to Real Estate is a helpful resource for anyone who needs to review important real estate information about Dumfries and neighboring communities. The Guide to Real Estate includes data regarding what has sold and what is on the market, as well as many compelling facts that you may not know. Not to mention, our Guide features some elements of residing in Dumfries. Of course, all of this is interesting for purchasers and sellers, but rental investors and renters should also find these tools to be very eye-opening.