We are very careful with fiduciary details.
As rental property managers it is our duty to keep close track on every cent of rent and each expense. All of us work relentlessly to make sure that each property owner has the tools and paperwork to see exactly where is income is going to and coming from. To accomplish this duty we work with one of the most powerful programs in our profession: Rent Manager.
We usually 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 expenses which we have paid on the property owner's behalf. The monthly statement is also available online. The monthly statement will describe what monies we are holding on behalf of the rental property owner.
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. At the end of the year, we organize the monthly statements into a year-end statement. 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.
Northern Virginia Property Management Resources
Basics
Fundamental information regarding rental managment in Northern Virginia.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a great tenant in Northern Virginia fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A breakdown of prices of property 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 investments?
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 understand more about the area?
Our Guide to Real Estate is a free resource for anyone who hopes to review important real estate information about Northern Virginia and nearby areas. The Guide to Real Estate provides data about what has sold and what is on the market, and many interesting facts that you might not be aware of. Not to mention, our Guide highlights quite a few of the elements of residing in Northern Virginia. Naturally, all of this is helpful for buyers and sellers, but rental investors and renters will likely also find these tools to be somewhat edifying.