We are extra attentive with accounting details.
As rental property managers it is our solemn charge to reconcile every penny of income and each expense. Our staff work diligently to make sure that every landlord has the tools and paperwork to know exactly where is money is going to and coming from. To accomplish this task we employ one of the most powerful programs in the management business: 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 states the rent received as well as any expenses that we have paid on the rental investor's behalf. The monthly statement is also available electronically. The monthly report will describe what monies we are holding on behalf of the rental 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 compile the monthly statements into a year-end report. In January we send to the real estate investors, 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 Rental Management Resources
-
Basics
Elementary info about what property management in Northern Virginia.
-
Getting Started
Learn more about getting started with rental property management
-
Find A Tenant
List your property to rent to find a great renter in Northern Virginia fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
-
Cost
A list 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 rentals?
-
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 know more about this area?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who wants to learn more about Northern Virginia and surrounding communities. The Guide to Real Estate provides information regarding what has sold and what is on the market, as well as many compelling facts that you might not know. And, our Guide spotlights some fundamentals of life in Northern Virginia. Of course, most of this is useful for purchasers and sellers, but real estate investors and tenants may also find this information to be somewhat eye-opening.