We are extremely precise about accounting matters.
As rental managers it is our duty to account for every penny of rent and each expense. Our team work hard to ensure that every landlord has the tools and paperwork to know exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful programs in our profession: Rent Manager.
We always try 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 rental income as well as any bills that we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly report will describe what reserves we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. Not to mention, 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 report. 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 give 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 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
An overview of fees associated with rental management services 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 want know more about the community?
Our Guide to Real Estate is a helpful resource for everyone who wants to learn more about Northern Virginia and nearby communities. The Guide to Real Estate includes data about what has sold and what is for sale, as well as a couple of shocking facts that you might not be aware of. Furthermore, our Guide spotlights many of the aspects of living in Northern Virginia. Of course, most of this is interesting for buyers and sellers, but real estate investors and tenants will probably also find these resources to be quite eye-opening.