We are extra serious about fiduciary issues.
As property managers it is our solemn charge to reconcile every penny of income and each expense. All of us work hard to ensure that each property owner has the documentation to know exactly where is money is going to and coming from. To accomplish this duty we employ one of the most powerful software tools in the management business: 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 shows the rental income as well as any expenses which we have paid on the landlord's behalf. The monthly statement is also available online. The monthly statement will show what funds we are holding on behalf of the rental investor.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end report. In January we mail the landlords, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Northern Virginia Rental 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 tenant in Northern Virginia fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
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Cost
A list of fees associated with rental management in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of 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 investments?
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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.
Should you know more about the local real estate market?
Our Guide to Real Estate is a free resource for anyone who needs to review important real estate information about Northern Virginia and nearby areas. The Guide to Real Estate has information regarding what has sold and what is currently listed, and a couple of interesting facts that you might not know. Not to mention, our Guide spotlights some fundamentals of residing in Northern Virginia. Of course, all of this is useful for buyers and sellers, but landlords and renters will likely also find these tools to be quite sobering.