We are especially conscientious regarding accounting issues.
As property managers it is our solemn charge to keep close track on every penny of income and each expense. Our team work diligently to ensure that every rental property owner has the documentation to see exactly where is income 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 rent received as well as any bills which we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The monthly report will describe what funds we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Not to mention, 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 report. In January we mail the property owners, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Woodstock Property Management Resources
Basics
Elementary info about what property management in Woodstock.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a reliable renter in Woodstock fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A breakdown of prices of rental management services in Woodstock
Vetting
How Nesbitt Realty vets renters for landlords.
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 need know more about our area?
Nesbitt Realty's Guide to Real Estate is a free resource for anyone who wants to find out more about Woodstock and neighboring communities. The Guide to Real Estate includes information regarding what has sold and what is on the market, as well as a couple of compelling facts that you might not be aware of. In addition, our Guide features quite a few of the fundamentals of living in Woodstock. Yes, most of this is helpful for purchasers and sellers, but owners and renters will likely also find this data to be quite edifying.