We are especially precise about financial issues.
As rental managers it is our duty to account for every penny of income and each expense. Our team work diligently 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 duty we use one of the most powerful software tools in our profession: Rent Manager.
It is our practice 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 expenses that we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly report will describe what funds we are holding on behalf of the property owner.
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 reports into a year-end statement. In January we send to the landlords, 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 Rental Management Resources
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Basics
Basic information regarding rental managment 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
Market your property to rent to find a great 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 prices of property management services in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of tenants for landlords.
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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.
Do you need understand more about our local real estate market?
Nesbitt Realty's Guide to Real Estate is a helpful tool for anyone who hopes to learn more about Northern Virginia and nearby areas. The Guide to Real Estate has facts about what has sold and what is on the market, and a couple of shocking facts that you may not know. Also, our Guide features some elements of living in Northern Virginia. As a matter of course, all of this is interesting for purchasers and sellers, but property owners and renters will also find these resources to be very edifying.