We are extra meticulous with fiduciary matters.
As rental managers it is our duty to account for every cent of rent and each expense. Our staff work relentlessly to ensure that every landlord has the documentation 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.
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 states the rent received as well as any expenses which we have paid on the real estate investor's behalf. The monthly statement is also available online. The monthly statement will show what reserves 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 send to the landlords, 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
Elementary info regarding rental managment 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 tenant in Northern Virginia fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
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 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 handy tool for everyone who wants to review important real estate information about Northern Virginia and neighboring communities. The Guide to Real Estate has information about what has sold and what is for sale, as well as some interesting facts that you might not be aware of. Furthermore, our Guide has many of the aspects of residing in Northern Virginia. As a matter of course, all of this is helpful for buyers and sellers, but property owners and renters will likely also find the facts to be very sobering.