We are extremely serious about financial details.
As rental property managers it is our duty to keep close track on every penny of income and each expense. Our team work diligently to ensure that each rental investor has the documentation to understand exactly where is income is going to and coming from. To accomplish this task we employ one of the most powerful programs 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 shows the rent received as well as any bills which we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly statement will describe what reserves we are holding on behalf of the rental property owner.
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. At the end of the year, we organize the monthly statements into a year-end report. In January we mail the rental investors, 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 great 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
An overview of fees associated with rental management services in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of renters for property owners.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage rentals?
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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 know more about the area?
Nesbitt Realty's Guide to Real Estate is a helpful tool for everyone who hopes to investigate real estate facts about Northern Virginia and nearby areas. The Guide to Real Estate includes facts about what has sold and what is on the market, as well as a couple of surprising facts that you may not be aware of. And, our Guide features many of the assets of residing in Northern Virginia. Yes, all of this is helpful for buyers and sellers, but landlords and tenants will also find these tools to be very enlightening.