We are especially attentive with fiduciary issues.
As property managers it is our solemn charge to account for every penny of rent and each expense. All of us work relentlessly to make sure that each real estate investor has the documentation to understand exactly where is money is going to and coming from. To accomplish this duty we use one of the most powerful programs in our profession: 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 states the rent received as well as any expenses that we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly statement will describe what reserves we are holding on behalf of the rental investor.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never marks up 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 statement. In January we mail the real estate investors, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Woodbridge Property Management Resources
Basics
Elementary info regarding rental managment in Woodbridge.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a great renter in Woodbridge fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A list of fees associated with rental management in Woodbridge
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?
Our Guide to Real Estate is a handy resource for everyone who wants to review important real estate information about Woodbridge and neighboring areas. The Guide to Real Estate provides facts regarding what has sold and what is for sale, and a couple of surprising facts that you may not know. Also, our Guide features some benefits of life in Woodbridge. As might be expected, most of this is helpful for purchasers and sellers, but property owners and tenants will probably also find the facts to be very informative.