How We Account For Rents and Expenditures For Our Management Clients

We are especially careful with financial matters.

As rental managers it is our duty to reconcile every cent of rent and each expense. Our team work diligently to ensure that every real estate investor has the tools and paperwork to see exactly where is income is going to and coming from. To accomplish this task we use 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 shows the rental income as well as any bills which we have paid on the real estate investor's behalf. The monthly statement is also available online. The monthly report will describe what reserves we are holding on behalf of the real estate investor.

There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never marks up 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 property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.

 

rent manager
Nesbitt Realty uses Rent Manager

Northern Virginia Rental Management Resources

Basics

Basic info about what property management in Northern Virginia.

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Getting Started

Learn more about getting started with rental property management

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Find A Tenant

Market your property to rent to find a dependable tenant in Northern Virginia fast.

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Accounting

How does Nesbitt Realty keep track of income and expenses for landlords?

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Cost

A list of fees associated with rental management services in Northern Virginia

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Vetting

How Nesbitt Realty checks the backgrounds of renters for landlords.

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Reserves

What is a contingency reserve account?

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Territory

Where does Nesbitt Realty manage rental property?

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Clients

Who uses Nesbitt Realty management services?

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Contact

Call (703)765-0300 to speak to a property manager now.

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If you have tenants, you have problems.

Nesbitt Realty handles those problems.

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 need understand more about the local real estate market?

Our Guide to Real Estate is a helpful resource for everyone who needs to review important real estate information about Northern Virginia and surrounding areas.  The Guide to Real Estate provides facts about what has sold and what is for sale, and a couple of interesting facts that you may not know.  Furthermore, our Guide features many of the fundamentals of residing in Northern Virginia.  Of course, most of this is interesting for buyers and sellers, but rental investors and renters will probably also find this data to be somewhat enlightening.

Serving Northern Virginia