We are extremely precise about accounting details.
As property managers it is our solemn charge to account for every cent of income and each expense. Our team work hard to ensure that every real estate investor has the tools and paperwork to understand exactly where is income is going to and coming from. To accomplish this duty we use one of the most powerful programs in the management business: Rent Manager.
We strive to 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 states the rental income as well as any bills which we have paid on the rental property owner's behalf. The monthly statement is also available online. The monthly report will describe what reserves 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 marks up 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 landlords, 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.
Lake Ridge Rental Management Resources
Basics
Basic info about what property management in Lake Ridge.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a reliable renter in Lake Ridge fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A list of fees associated with property management services in Lake Ridge
Vetting
How Nesbitt Realty checks the backgrounds of tenants for our clients.
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.
Do you want understand more about our community?
Our Guide to Real Estate is a handy tool for everyone who wants to review important real estate information about Lake Ridge and neighboring areas. The Guide to Real Estate has information regarding what has sold and what is currently listed, as well as many surprising facts that you might not know. Also, our Guide has some fundamentals of living in Lake Ridge. Definitely, all of this is interesting for buyers and sellers, but property owners and renters should also find this data to be quite sobering.