We are especially precise about money matters.
As rental managers it is our duty to reconcile every penny of income and each expense. Our staff work hard to make sure that every property owner has the tools and paperwork 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.
We usually 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 rental income as well as any expenses which we have paid on the rental investor's behalf. The monthly statement is also available online. The statement will describe what funds we are holding on behalf of the rental investor.
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. At the end of the year, we compile the monthly statements into a year-end statement. In January we send to the rental investors, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Northern Virginia Property Management Resources
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Basics
Elementary info about what property management 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 real estate investors?
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Cost
An overview of fees associated with property management services in Northern Virginia
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Vetting
How Nesbitt Realty vets tenants for landlords.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage rentals?
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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 want know more about our local real estate market?
Nesbitt Realty's Guide to Real Estate is a free resource for anyone who hopes to learn more about Northern Virginia and surrounding areas. The Guide to Real Estate compiles information about what has sold and what is for sale, as well as some interesting facts that you might not know. Furthermore, our Guide spotlights some assets of residing in Northern Virginia. Certainly, most of this is helpful for purchasers and sellers, but landlords and renters should also find this information to be very enlightening.