We are extremely attentive with financial matters.
As property managers it is our solemn charge to keep close track on every cent of income and each expense. Our staff work diligently to ensure that each rental property owner has the documentation to understand exactly where is income is going to and coming from. To accomplish this duty we employ one of the most powerful software tools in the management business: Rent Manager.
We always try to 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 rental income as well as any expenses which we have paid on the property owner's behalf. The monthly statement is also available online. The monthly report will describe what funds we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Furthermore, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we organize the monthly statements into a year-end report. In January we send to 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 hand the 1099 to your tax preparer.
Rockingham 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.
Should you know more about this area?
Our Guide to Real Estate is a free tool for anyone who wants to learn more about Rockingham County and nearby communities. The Guide to Real Estate includes facts about what has sold and what is for sale, as well as a couple of compelling facts that you may not be aware of. In addition, our Guide has quite a few of the benefits of residing in Rockingham County. As a matter of course, most of this is interesting for buyers and sellers, but landlords and tenants might also find the facts to be somewhat edifying.