We are extremely meticulous with fiduciary matters.
As property managers it is our solemn charge to keep close track on every cent of rent and each expense. Our team work relentlessly to make sure that each real estate investor has the tools and paperwork to know exactly where is income is going to and coming from. To accomplish this duty we work with one of the most powerful software tools in our profession: 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 shows the rental income as well as any bills that we have paid on the rental property owner's behalf. The monthly statement is also available online. The monthly statement will show what funds we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we organize the monthly reports into a year-end statement. In January we mail the landlords, and to the IRS, a 1099 stating the income for the rental 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
Basic information 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 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
An overview of fees associated with rental management in Northern Virginia
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Vetting
How Nesbitt Realty vets 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 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 need understand more about this community?
Nesbitt Realty's Guide to Real Estate is a handy tool for anyone who hopes to find out more about Northern Virginia and neighboring communities. The Guide to Real Estate provides information about what has sold and what is for sale, as well as many shocking facts that you might not be aware of. Also, our Guide has many of the benefits of residing in Northern Virginia. Of course, all of this is useful for buyers and sellers, but real estate investors and tenants should also find this information to be very edifying.