How We Account For Rents and Expenditures For Our Management Clients

We are especially precise about fiduciary issues.

As property managers it is our solemn charge to keep close track on every penny of rent and each expense. All of us work hard to make sure that every rental investor has the opportunity to know exactly where is money is going to and coming from. To accomplish this task we employ one of the most powerful programs in the management business: Rent Manager.

We usually 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 which we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The monthly statement will describe what monies we are holding on behalf of the rental property owner.

There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we compile the monthly reports into a year-end statement.  In January we mail the rental investors, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.

 

rent manager
Nesbitt Realty uses Rent Manager

Northern Virginia Rental Management Resources

If you have tenants, you have problems.

Nesbitt Realty handles those problems.

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?

Our Guide to Real Estate is a free tool for anyone who wants to investigate real estate facts about Northern Virginia and nearby areas.  The Guide to Real Estate has information about what has sold and what is for sale, and a few interesting facts that you may not be aware of.  In addition, our Guide highlights many of the assets of life in Northern Virginia.  Of course, all of this is useful for buyers and sellers, but real estate investors and renters will also find these tools to be quite useful.

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