How We Account For Rents and Expenditures For Our Landlord Clients

As property managers it is our solemn charge to keep close track on every cent of rent and each expense. Our team work relentlessly to make sure that each landlord has the opportunity to know exactly where is money is going to and coming from. To accomplish this duty we use one of the most powerful programs in our profession: Rent Manager.

We always try 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 rental income as well as any bills that we have paid on the rental investor's behalf. The monthly statement is also available electronically. The statement will show what funds we are holding on behalf of the landlord.

There is no additional charge for the reports or the accounting. And, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end statement.  In January we send to the landlords, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.