We are very serious about accounting matters.
As rental property managers it is our solemn charge to reconcile every penny of rent and each expense. Our staff work hard to make sure that every rental investor has the tools and paperwork to know exactly where is money is going to and coming from. To accomplish this task we use one of the most powerful software tools in our profession: Rent Manager.
We usually 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 rent received as well as any bills which we have paid on the rental investor's behalf. The monthly statement is also available electronically. The monthly report will describe what reserves 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. Annually, we organize the monthly statements 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.
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.
Do you want understand more about this community?
Our Guide to Real Estate is a helpful tool for everyone who wants to find out more about Rockingham County and nearby areas. The Guide to Real Estate includes data regarding what has sold and what is currently listed, and many interesting facts that you may not know. Not to mention, our Guide has many of the benefits of life in Rockingham County. Yes, most of this is useful for buyers and sellers, but owners and tenants will likely also find these resources to be somewhat sobering.