We are especially precise about accounting issues.
As rental property managers it is our duty to keep close track on every cent of income and each expense. All of us work relentlessly to ensure that every real estate investor has the opportunity to see exactly where is income is going to and coming from. To accomplish this duty we employ one of the most powerful programs in the management business: Rent Manager.
We always try to process and deposit rents on the same day they are received. Rents are deposited into an escrow account (not into our operating account). We prepare a monthly statement that states the rental income as well as any expenses which we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly report will show what monies we are holding on behalf of the property owner.
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 report. In January we mail the rental 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.
Foxridge Property Management Resources
Basics
Fundamental information regarding management services in Foxridge.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a reliable tenant in Foxridge fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
An overview of fees associated with rental management services in Foxridge
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 want know more about this area?
Our Guide to Real Estate is a free tool for anyone who wants to investigate real estate facts about Foxridge and nearby communities. The Guide to Real Estate includes data about what has sold and what is for sale, and a few shocking facts that you might not know. And, our Guide highlights some benefits of living in Foxridge. Definitely, most of this is helpful for buyers and sellers, but rental investors and tenants might also find the facts to be somewhat sobering.