We are especially conscientious regarding financial matters.
As property managers it is our duty to keep close track on every penny of income and each expense. All of us work hard to ensure that every rental investor has the documentation to see exactly where is money is going to and coming from. To accomplish this task we employ one of the most powerful software tools in our profession: Rent Manager.
We strive 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 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 monthly report will describe what funds we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. And, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly reports into a year-end report. In January we mail 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
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Basics
Elementary info regarding 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
List your property to rent to find a reliable renter in Northern Virginia fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
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Cost
An overview of prices of rental management in Northern Virginia
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Vetting
How Nesbitt Realty vets tenants for property owners.
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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.
Do you need know more about the area?
Nesbitt Realty's Guide to Real Estate is a handy resource for everyone who hopes to learn more about Northern Virginia and surrounding communities. The Guide to Real Estate includes facts about what has sold and what is for sale, and some compelling facts that you might not know. Not to mention, our Guide spotlights some elements of life in Northern Virginia. Definitely, most of this is interesting for buyers and sellers, but real estate investors and tenants should also find this information to be quite informative.