We are especially careful with accounting issues.
As rental managers it is our duty to account for every cent of income and each expense. Our team work hard to make sure that every landlord has the opportunity to know exactly where is money is going to and coming from. To accomplish this task we use one of the most powerful programs in our profession: 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 shows the rental income as well as any expenses that we have paid on the property owner's behalf. The monthly statement is also available electronically. The statement will describe what funds we are holding on behalf of the real estate investor.
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 organize the monthly statements into a year-end statement. In January we send to the property owners, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Northern Virginia Rental Management Resources
-
Basics
Elementary information regarding management services in Northern Virginia.
-
Getting Started
Learn more about getting started with property management
-
Find A Tenant
Market your property to rent to find a great tenant in Northern Virginia fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
-
Cost
An overview of fees associated with property management services in Northern Virginia
-
Vetting
How Nesbitt Realty checks the backgrounds of renters for landlords.
-
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.
Should you understand more about this local real estate market?
Our Guide to Real Estate is a handy resource for anyone who wants to learn more about Northern Virginia and neighboring communities. The Guide to Real Estate compiles information regarding what has sold and what is currently listed, as well as a couple of compelling facts that you might not be aware of. And, our Guide highlights quite a few of the elements of life in Northern Virginia. As a matter of course, all of this is helpful for purchasers and sellers, but real estate investors and renters will also find this information to be quite informative.