We are extremely attentive with financial issues.
As rental managers it is our solemn charge to account for every penny of income and each expense. Our staff work relentlessly to make sure that every rental investor has the tools and paperwork to understand exactly where is income is going to and coming from. To accomplish this duty we use one of the most powerful programs in our profession: 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 states the rent received as well as any bills which we have paid on the rental property owner's behalf. The monthly statement is also available online. The monthly report will describe what monies we are holding on behalf of the rental investor.
There is no additional charge for the reports or the accounting. In addition, 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 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 Rental Management Resources
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Basics
Fundamental info regarding property management in Northern Virginia.
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Getting Started
Learn more about getting started with property management
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Find A Tenant
Market your property to rent to find a reliable tenant in Northern Virginia fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
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Cost
A breakdown of fees associated with rental management in Northern Virginia
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Vetting
How Nesbitt Realty vets tenants for our clients.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage rentals?
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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 our area?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who wants to learn more about Northern Virginia and neighboring areas. The Guide to Real Estate provides data regarding what has sold and what is for sale, as well as many interesting facts that you might not know. Not to mention, our Guide features quite a few of the assets of living in Northern Virginia. As might be expected, all of this is useful for buyers and sellers, but rental investors and tenants might also find the facts to be somewhat eye-opening.