We are especially serious about accounting matters.
As property managers it is our solemn charge to account for every cent of income and each expense. All of us work diligently to ensure that each property owner has the documentation to understand exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful programs in the management business: Rent Manager.
We always try 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 expenses that we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly report will show what monies we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. At the end of the year, we organize the monthly reports into a year-end report. In January we send to the rental investors, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Northern Virginia Property Management Resources
Basics
Basic information regarding property management in Northern Virginia.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a dependable tenant in Northern Virginia fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A list of prices of rental management services in Northern Virginia
Vetting
How Nesbitt Realty checks the backgrounds of tenants for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rentals?
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 know more about our community?
Nesbitt Realty's Guide to Real Estate is a helpful tool for everyone who wants to learn more about Northern Virginia and nearby areas. The Guide to Real Estate includes information regarding what has sold and what is for sale, and many surprising facts that you may not know. Also, our Guide highlights some assets of living in Northern Virginia. Of course, most of this is helpful for purchasers and sellers, but property owners and renters might also find these resources to be somewhat informative.