We are especially attentive with fiduciary details.
As property managers it is our solemn charge to reconcile every penny of rent and each expense. Our team work relentlessly to make sure that every property owner has the documentation to see exactly where is money is going to and coming from. To accomplish this task we work with one of the most powerful programs in the management business: Rent Manager.
It is our practice 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 expenses that we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly report will describe what monies we are holding on behalf of the real estate investor.
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 reports into a year-end report. In January we send to the property owners, 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.
White Post 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 community?
Our Guide to Real Estate is a free tool for anyone who wants to investigate real estate facts about White Post and surrounding areas. The Guide to Real Estate has data about what has sold and what is on the market, as well as a couple of interesting facts that you may not know. In addition, our Guide highlights some elements of residing in White Post. As a matter of course, all of this is useful for buyers and sellers, but rental investors and tenants should also find these resources to be very edifying.