How We Account For Rents and Expenditures For Our Landlord Clients

As property managers it is our solemn charge to reconcile every cent of rent and each expense. Our staff work relentlessly to make sure that each rental investor has the opportunity to understand exactly where is income 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 expenses which we have paid on the rental investor's behalf. The monthly statement is also available electronically. The statement will show what monies we are holding on behalf of the property owner.

There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we organize the monthly reports into a year-end statement.  In January we mail the real estate investors, 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.