We are extremely meticulous with accounting details.
As rental managers it is our duty to keep close track on every penny of rent and each expense. Our team work diligently to make sure that every landlord has the opportunity to understand exactly where is income is going to and coming from. To accomplish this duty we use 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. 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 bills that we have paid on the real estate investor's behalf. The monthly statement is also available online. The 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 statement. In January we mail the property owners, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Northern Virginia Property Management Resources
Basics
Basic info regarding 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 reliable renter in Northern Virginia fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
An overview of prices of rental management in Northern Virginia
Vetting
How Nesbitt Realty vets tenants for our clients.
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.
Should you understand more about the local real estate market?
Nesbitt Realty's Guide to Real Estate is a helpful tool for everyone who wants to investigate real estate facts about Northern Virginia and nearby areas. The Guide to Real Estate includes data regarding what has sold and what is currently listed, and a few surprising facts that you might not know. Also, our Guide highlights many of the fundamentals of life in Northern Virginia. Certainly, most of this is interesting for purchasers and sellers, but rental investors and tenants will probably also find the facts to be quite edifying.