We are very precise about accounting details.
As rental property managers it is our solemn charge to account for every penny of rent and each expense. Our staff work relentlessly to make sure that each landlord has the tools and paperwork to understand exactly where is income 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 rental income as well as any bills that we have paid on the rental investor's behalf. The monthly statement is also available online. The 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. And, 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 statement. In January we send to 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 Rental Management Resources
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Basics
Basic info regarding 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 dependable 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 list of fees associated with rental management 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 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 this area?
Our Guide to Real Estate is a helpful resource for everyone who wants to learn more about Northern Virginia and surrounding areas. The Guide to Real Estate provides data about what has sold and what is for sale, and some interesting facts that you might not know. Not to mention, our Guide highlights many of the aspects of residing in Northern Virginia. Of course, most of this is interesting for buyers and sellers, but property owners and renters might also find this information to be very eye-opening.