We are extremely conscientious regarding accounting issues.
As property managers it is our solemn charge to reconcile every cent of rent and each expense. Our team work hard to make sure that every rental investor has the opportunity to see exactly where is money is going to and coming from. To accomplish this task we use one of the most powerful software tools in the management business: Rent Manager.
We strive 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 that we have paid on the property owner's behalf. The monthly statement is also available online. The monthly report will describe what reserves we are holding on behalf of the landlord.
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. At the end of the year, we compile the monthly statements into a year-end statement. In January we mail the property owners, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Elkton Rental Management Resources
Basics
Basic information regarding management services in Elkton.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a great renter in Elkton fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A list of fees associated with rental management in Elkton
Vetting
How Nesbitt Realty vets renters for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage property?
Clients
Who uses Nesbitt Realty management services?
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 the area?
Nesbitt Realty's Guide to Real Estate is a helpful tool for everyone who needs to learn more about Elkton and nearby communities. The Guide to Real Estate compiles information regarding what has sold and what is currently listed, and a few shocking facts that you may not be aware of. Furthermore, our Guide spotlights some benefits of living in Elkton. As might be expected, most of this is helpful for buyers and sellers, but landlords and renters will likely also find this information to be very eye-opening.