We are very careful with money matters.
As rental managers it is our duty to reconcile every cent of rent and each expense. All of us work relentlessly to make sure that each real estate investor has the opportunity to see exactly where is money is going to and coming from. To accomplish this duty we use one of the most powerful software tools 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 rental income as well as any bills that we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly report 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. And, 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 report. In January we send to the landlords, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Fairfax Rental Management Resources
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Basics
Basic info regarding management services in Fairfax.
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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 dependable tenant in Fairfax 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 prices of rental management services in Fairfax
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Vetting
How Nesbitt Realty vets renters for landlords.
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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 want understand more about the community?
Nesbitt Realty's Guide to Real Estate is a free resource for anyone who wants to investigate real estate facts about Fairfax and surrounding areas. The Guide to Real Estate provides facts about what has sold and what is on the market, and some interesting facts that you might not be aware of. Furthermore, our Guide spotlights some assets of living in Fairfax. Of course, most of this is helpful for purchasers and sellers, but landlords and renters should also find these tools to be quite sobering.