We are very careful with money details.
As rental property managers it is our duty to account for every cent of rent and each expense. Our staff work diligently to ensure that each rental property owner has the opportunity to understand 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 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 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 monthly statement will show what funds we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we organize the monthly reports into a year-end statement. In January we mail 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.
Broadway 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 know more about this local real estate market?
Our Guide to Real Estate is a helpful resource for everyone who hopes to review important real estate information about Broadway and neighboring areas. The Guide to Real Estate compiles facts regarding what has sold and what is on the market, as well as a couple of interesting facts that you might not be aware of. And, our Guide features many of the benefits of residing in Broadway. Of course, all of this is useful for buyers and sellers, but landlords and renters might also find these tools to be quite informative.