We are extremely attentive with money details.
As property managers it is our duty to reconcile every penny of income and each expense. Our team work relentlessly to ensure that every rental investor has the tools and paperwork to see exactly where is money is going to and coming from. To accomplish this duty we employ one of the most powerful software tools in our profession: 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 expenses that we have paid on the property owner's behalf. The monthly statement is also available online. The monthly report will show what monies we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. Furthermore, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we organize the monthly statements into a year-end statement. In January we mail the rental investors, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Rappahannock County 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.
Should you know more about this community?
Our Guide to Real Estate is a helpful resource for everyone who wants to find out more about Rappahannock County and neighboring areas. The Guide to Real Estate compiles data about what has sold and what is on the market, as well as many interesting facts that you may not know. And, our Guide features some elements of residing in Rappahannock County. Naturally, most of this is interesting for buyers and sellers, but real estate investors and tenants will probably also find these tools to be somewhat edifying.