We are extremely meticulous with money issues.
As property managers it is our solemn charge to keep close track on every cent of rent and each expense. All of us work hard to ensure that each landlord has the tools and paperwork to understand exactly where is money is going to and coming from. To accomplish this task we use one of the most powerful software tools 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 shows the rent received as well as any bills which we have paid on the real estate investor's behalf. The monthly statement is also available online. The monthly report will describe what monies we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. Furthermore, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly statements into a year-end report. 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
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Basics
Elementary information about what property management 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 great 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
A list of fees associated with property management services in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of 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 rental 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 want understand more about our community?
Nesbitt Realty's Guide to Real Estate is a helpful tool for anyone who needs to investigate real estate facts about Northern Virginia and nearby communities. The Guide to Real Estate provides data about what has sold and what is on the market, and some interesting facts that you might not know. Also, our Guide spotlights some benefits of residing in Northern Virginia. Naturally, most of this is useful for purchasers and sellers, but owners and renters will probably also find the facts to be somewhat sobering.