We are extra precise about accounting details.
As property managers it is our solemn charge to reconcile every penny of rent and each expense. All of us work relentlessly to make sure that each rental investor has the opportunity to understand exactly where is money is going to and coming from. To accomplish this task we work with 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. 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 expenses that we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The statement will describe what reserves 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. Annually, we organize the monthly reports into a year-end statement. 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 Rental Management Resources
Basics
Basic info about what rental managment in Northern Virginia.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market 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 property owners?
Cost
An overview of prices of rental management in Northern Virginia
Vetting
How Nesbitt Realty vets renters for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage property?
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 area?
Our Guide to Real Estate is a free resource for everyone who wants to review important real estate information about Northern Virginia and nearby areas. The Guide to Real Estate has facts regarding what has sold and what is on the market, and some shocking facts that you might not know. Not to mention, our Guide spotlights some elements of residing in Northern Virginia. Of course, most of this is interesting for buyers and sellers, but rental investors and renters might also find the facts to be quite edifying.