We are extremely attentive with financial details.
As rental property managers it is our duty to reconcile every cent of income and each expense. All of us work relentlessly to make sure that each landlord has the opportunity to see exactly where is income is going to and coming from. To accomplish this duty we use one of the most powerful software tools in the management business: 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 rental income as well as any expenses which we have paid on the landlord's behalf. The monthly statement is also available online. The monthly report will show what reserves we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. Furthermore, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly statements into a year-end statement. In January we mail 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
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Basics
Fundamental information 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 landlords?
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Cost
A breakdown of prices of property management services in Northern Virginia
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Vetting
How Nesbitt Realty vets 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 rental investments?
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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 need know more about our area?
Nesbitt Realty's Guide to Real Estate is a handy resource for anyone who wants to find out more about Northern Virginia and surrounding areas. The Guide to Real Estate provides information regarding what has sold and what is for sale, as well as a few compelling facts that you might not be aware of. Also, our Guide has quite a few of the elements of residing in Northern Virginia. Definitely, all of this is helpful for buyers and sellers, but property owners and tenants will likely also find this information to be quite edifying.