How We Account For Rents and Expenditures For Our Management Clients

We are extremely attentive with fiduciary details.

As rental managers it is our solemn charge to reconcile every penny of income and each expense. Our team work diligently to make sure that every property owner has the documentation 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.

It is our practice 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 real estate investor's behalf. The monthly statement is also available electronically. The monthly report will show what funds we are holding on behalf of the rental property owner.

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 compile the monthly statements into a year-end statement.  In January we send to 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.

 

rent manager
Nesbitt Realty uses Rent Manager

Castleton Rental Management Resources

Basics

Basic info about what rental managment in Castleton.

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Getting Started

Learn more about getting started with property management

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Find A Tenant

List your property to rent to find a dependable renter in Castleton fast.

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Accounting

How does Nesbitt Realty keep track of income and expenses for landlords?

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Cost

A breakdown of prices of rental management in Castleton

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Vetting

How Nesbitt Realty vets tenants for property owners.

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Reserves

What is a contingency reserve account?

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Territory

Where does Nesbitt Realty manage rental property?

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Clients

Who uses Nesbitt Realty management services?

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Contact

Call (703)765-0300 to speak to a rental specialist now.

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If you have tenants, you have problems.

Nesbitt Realty handles those problems.

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 our local real estate market?

Our Guide to Real Estate is a handy resource for anyone who hopes to learn more about Castleton and neighboring areas.  The Guide to Real Estate compiles facts regarding what has sold and what is for sale, and a couple of shocking facts that you may not be aware of.  In addition, our Guide spotlights some benefits of residing in Castleton.  Definitely, most of this is interesting for purchasers and sellers, but rental investors and tenants will probably also find the facts to be quite enlightening.

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