We are especially serious about accounting details.
As property managers it is our solemn charge to keep close track on every cent of income and each expense. All of us work diligently to ensure that each rental property owner has the tools and paperwork to understand exactly where is income is going to and coming from. To accomplish this duty we employ one of the most powerful software tools 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 bills which we have paid on the property owner's behalf. The monthly statement is also available online. The monthly report will describe what funds we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. Furthermore, 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 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.
Northern Virginia Property Management Resources
Basics
Basic information about what management services in Northern Virginia.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a dependable renter in Northern Virginia fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A breakdown of fees associated with rental management services in Northern Virginia
Vetting
How Nesbitt Realty checks the backgrounds of renters for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental 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.
Should you know more about the community?
Our Guide to Real Estate is a helpful tool for everyone who hopes to review important real estate information about Northern Virginia and surrounding communities. The Guide to Real Estate includes information about what has sold and what is currently listed, and some compelling facts that you might not know. In addition, our Guide features many of the elements of life in Northern Virginia. As might be expected, most of this is useful for purchasers and sellers, but real estate investors and renters should also find these resources to be very edifying.