We are especially attentive with fiduciary details.
As rental property managers it is our duty to reconcile every cent of income and each expense. All of us work diligently to make sure that each property owner has the tools and paperwork to see exactly where is money is going to and coming from. To accomplish this duty we work with one of the most powerful programs in the management business: Rent Manager.
We strive 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 rent received as well as any expenses which we have paid on the rental investor's behalf. The monthly statement is also available electronically. The statement will show what funds we are holding on behalf of the rental 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 statement. In January we send to the landlords, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Northern Virginia Property Management Resources
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Basics
Elementary info about what management services 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 great tenant in Northern Virginia fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
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Cost
A breakdown of fees associated with rental management in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of tenants for landlords.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage property?
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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 understand more about the local real estate market?
Our Guide to Real Estate is a free resource for everyone who wants to find out more about Northern Virginia and nearby communities. The Guide to Real Estate includes facts regarding what has sold and what is on the market, and a few shocking facts that you may not know. And, our Guide features some benefits of life in Northern Virginia. Definitely, all of this is useful for purchasers and sellers, but real estate investors and tenants will probably also find these tools to be quite edifying.