We are especially conscientious regarding accounting details.
As property managers it is our duty to account for every penny of income and each expense. Our team work hard to ensure that each property owner has the tools and paperwork to know exactly where is money is going to and coming from. To accomplish this duty we use 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. Rents 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 that we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly statement will describe what reserves we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we organize the monthly statements 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. 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
Basic info about what 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 real estate investors?
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Cost
A breakdown of fees associated with property management services in Northern Virginia
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Vetting
How Nesbitt Realty vets renters for our clients.
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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 need understand more about the area?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who needs to learn more about Northern Virginia and surrounding areas. The Guide to Real Estate compiles information about what has sold and what is currently listed, as well as a few compelling facts that you might not be aware of. Not to mention, our Guide highlights quite a few of the assets of life in Northern Virginia. As a matter of course, most of this is helpful for purchasers and sellers, but landlords and tenants should also find this data to be somewhat edifying.