We are very meticulous with fiduciary details.
As property managers it is our solemn charge to reconcile every cent of income and each expense. Our staff work diligently to make sure that each landlord has the opportunity to understand exactly where is income is going to and coming from. To accomplish this duty we work with one of the most powerful programs in our profession: Rent Manager.
We usually 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 states the rent received as well as any expenses which we have paid on the landlord's behalf. The monthly statement is also available online. The monthly statement will describe what monies 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. At the end of the year, we organize the monthly reports into a year-end report. In January we mail the rental 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 Property Management Resources
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Basics
Elementary info regarding management services in Northern Virginia.
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Getting Started
Learn more about getting started with property management
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Find A Tenant
Market your property to rent to find a great renter in Northern Virginia fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
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Cost
A breakdown of prices of rental 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 property?
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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 this community?
Our Guide to Real Estate is a helpful tool for anyone who needs to find out more about Northern Virginia and surrounding areas. The Guide to Real Estate has data regarding what has sold and what is currently listed, and many shocking facts that you may not be aware of. Furthermore, our Guide has many of the aspects of living in Northern Virginia. Of course, most of this is helpful for purchasers and sellers, but owners and tenants will also find this information to be very eye-opening.