We are very attentive with financial issues.
As rental managers it is our solemn charge to account for every penny of rent and each expense. Our team work relentlessly to make sure that each real estate investor has the documentation to know exactly where is income is going to and coming from. To accomplish this task we employ one of the most powerful software tools 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 shows the rent received as well as any bills that we have paid on the property owner's behalf. The monthly statement is also available online. The statement will show what reserves we are holding on behalf of the property owner.
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. Annually, we organize the monthly statements into a year-end report. In January we mail the rental property owners, 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.
Woodville 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.
Do you want understand more about our community?
Nesbitt Realty's Guide to Real Estate is a free tool for anyone who needs to learn more about Woodville and neighboring communities. The Guide to Real Estate has information regarding what has sold and what is currently listed, as well as many shocking facts that you might not know. Also, our Guide features some assets of life in Woodville. As might be expected, most of this is helpful for purchasers and sellers, but landlords and renters should also find these tools to be somewhat sobering.