We are extra meticulous with fiduciary details.
As rental managers it is our duty to keep close track on every cent of rent and each expense. Our staff work hard to make sure that every property owner 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 the management business: Rent Manager.
It is our practice 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 bills that we have paid on the property owner's behalf. The monthly statement is also available online. The monthly report will show what reserves we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end report. In January we send to the landlords, 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 Property Management Resources
-
Basics
Elementary information about what property management in Northern Virginia.
-
Getting Started
Learn more about getting started with rental 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 property owners?
-
Cost
A breakdown of fees associated with rental management services in Northern Virginia
-
Vetting
How Nesbitt Realty checks the backgrounds of tenants for landlords.
-
Reserves
What is a contingency reserve account?
-
Territory
Where does Nesbitt Realty manage rental investments?
-
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 understand more about our community?
Our Guide to Real Estate is a handy tool for anyone who wants to investigate real estate facts about Northern Virginia and surrounding communities. The Guide to Real Estate provides information about what has sold and what is for sale, and a couple of surprising facts that you may not be aware of. In addition, our Guide highlights quite a few of the assets of living in Northern Virginia. As a matter of course, all of this is helpful for buyers and sellers, but landlords and tenants will probably also find the facts to be quite sobering.