We are especially precise about accounting matters.
As property managers it is our solemn charge to reconcile every cent of rent and each expense. Our staff work diligently to make sure that every real estate investor has the documentation to understand exactly where is money is going to and coming from. To accomplish this duty we use one of the most powerful software tools in the management business: Rent Manager.
We usually 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 bills that we have paid on the real estate investor's behalf. The monthly statement is also available online. The statement will describe what reserves we are holding on behalf of the landlord.
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. At the end of the year, we compile the monthly reports into a year-end report. In January we send to the landlords, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Main Street Property Management Resources
Basics
Basic information about what property management in Main Street.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a great renter in Main Street fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A breakdown of prices of property management services in Main Street
Vetting
How Nesbitt Realty vets renters for property owners.
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 know more about this area?
Our Guide to Real Estate is a free tool for anyone who hopes to find out more about Main Street and nearby communities. The Guide to Real Estate has information about what has sold and what is for sale, as well as many interesting facts that you might not be aware of. In addition, our Guide features many of the assets of residing in Main Street. Of course, most of this is helpful for purchasers and sellers, but rental investors and renters will probably also find this information to be somewhat edifying.