We are especially conscientious regarding financial matters.
As rental property managers it is our duty to reconcile every penny of income and each expense. Our team work diligently to make sure that every rental property owner has the opportunity to know exactly where is income is going to and coming from. To accomplish this task we work with one of the most powerful software tools 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 landlord's behalf. The monthly statement is also available electronically. The monthly report will describe what monies we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. And, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly reports into a year-end statement. In January we mail the rental property owners, 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
Basics
Elementary info regarding property management in Northern Virginia.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a reliable renter in Northern Virginia fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A list of fees associated with rental management in Northern Virginia
Vetting
How Nesbitt Realty vets tenants for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rentals?
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 need understand more about this local real estate market?
Nesbitt Realty's Guide to Real Estate is a helpful tool for everyone who hopes to investigate real estate facts about Northern Virginia and neighboring areas. The Guide to Real Estate includes information about what has sold and what is for sale, and a few interesting facts that you might not know. Not to mention, our Guide spotlights quite a few of the benefits of life in Northern Virginia. As might be expected, most of this is useful for buyers and sellers, but rental investors and renters should also find the facts to be very useful.