We are extremely attentive with fiduciary issues.
As property managers it is our duty to account for every cent of rent and each expense. All of us work hard to ensure that each rental 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 our profession: Rent Manager.
We strive 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 states the rent received as well as any bills which we have paid on the landlord's behalf. The monthly statement is also available online. The statement will describe what monies we are holding on behalf of the rental 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. Annually, we compile the monthly statements into a year-end statement. 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 give the 1099 to your tax preparer.
Northern Virginia Property Management Resources
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Basics
Basic info about what rental managment 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 dependable 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 prices of rental management 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 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 this local real estate market?
Our Guide to Real Estate is a free tool for anyone who hopes to review important real estate information about Northern Virginia and neighboring areas. The Guide to Real Estate provides facts about what has sold and what is currently listed, as well as a couple of surprising facts that you might not be aware of. Not to mention, our Guide highlights some benefits of residing in Northern Virginia. Definitely, most of this is interesting for buyers and sellers, but real estate investors and renters will likely also find these tools to be very eye-opening.