We are extra meticulous with money details.
As property managers it is our solemn charge to reconcile every cent of income and each expense. Our staff work diligently to make sure that each landlord has the tools and paperwork to see exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful programs 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 which we have paid on the rental investor's behalf. The monthly statement is also available electronically. The monthly report will show what monies 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. At the end of the year, we compile the monthly reports into a year-end statement. In January we mail the rental property owners, 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.
Rappahannock County Property 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.
Do you need understand more about this area?
Nesbitt Realty's Guide to Real Estate is a handy tool for everyone who wants to review important real estate information about Rappahannock County and neighboring communities. The Guide to Real Estate has facts about what has sold and what is currently listed, and a couple of interesting facts that you may not know. Also, our Guide spotlights many of the aspects of residing in Rappahannock County. Of course, all of this is useful for purchasers and sellers, but owners and tenants will also find this data to be somewhat enlightening.