TriStar protects your income through timely rent collection and careful bookkeeping. Our rental finance management services help you understand the health of your investment and simplify your yearly tax filings.
In addition, income and expenses can be viewed at any time through an owner portal, allowing you to track average monthly income, identify payment patterns, and more. We carefully review monthly and yearly reports for discrepancies and areas for improvement, so you can be confident your investment is performing at its best.
Unlike with a business, your rental property only has one stream of income—rent. Our tenant screening process decreases the likelihood of late payments, but we’ll address payment issues directly with the tenant so you don’t have to.
TriStar Property Management uses an online payment portal to cut down on processing time. If your tenant opts for another payment method, however, we’ll ensure it is deposited in your account promptly.
Monthly statements allow you to identify trends in your income and property expenses. While TriStar will review your monthly statements for errors, such as overpaying a contractor, you may also wish to review them to better understand how your investment is performing. Some fluctuations in monthly earnings are normal, but viewing monthly statements over time can help you set income expectations.
Our online owner portal allows you to access your financial records at any time. In addition to a complete transaction history, you’ll also be able to view and download monthly and yearly reports. Your owner portal is where you can find financial insights on your investment. It also allows for fast and secure processing of payments and owner draws.
Year-end statements summarize income and expenses for your property for the entire year, which helps you evaluate key performance indicators for your investment and identify areas for improvement. At Tristar, we’ll partner with you to improve your property’s income year after year. Your tax professional will also need access to your year-end statements to file your annual tax return.
TriStar will help streamline your yearly taxes by providing 1099s in addition to your year-end statement. 1099s notify the IRS of otherwise undocumented income from investments or contract work. We’ll also take care of issuing 1099s to any contractors who worked on your property during the year.
We worked with Sharon and it's been great! Very professional, transparent and no nonsense kind of attitude. My wife and I were new renters so she broke everything down for us in a way that was simple and easy to understand.
Sharon and TriStar Property Management is who I recommend and refer for all property management needs. Proficient, reliable and communicative are just a few of the attributes you will observe when working with Sharon and TriStar Property Management.
Sharon is the best property manager I have ever had! I'm so grateful to have her manage my townhome. She cares about my property and my goals/concerns as a landlord but she also shows a lot of care for her tenants! She is great at communication and handles any issues that come up extremely efficiently. Also, she has a knack for marketing and connecting the right properties with the right tenants. She was able to find renters for my property in less than 2 weeks. I feel at ease with Tristar Property Management and trust they have the best interest for owners and renters.
To learn more about our property management services and how we can maximize your ROI, contact us today.