We are extremely careful with fiduciary issues.
As rental property managers it is our duty to reconcile every cent of rent and each expense. Our staff work relentlessly to make sure that each rental property owner has the documentation to understand exactly where is income 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 strive 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 shows the rental income as well as any bills that we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly statement will describe what funds we are holding on behalf of the real estate investor.
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. Annually, we compile the monthly statements into a year-end report. In January we mail the rental 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.
Fairfax Rental Management Resources
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Basics
Basic info regarding rental managment in Fairfax.
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Getting Started
Learn more about getting started with rental property management
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Find A Tenant
Market 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 property owners?
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Cost
A breakdown of prices of property management services in Fairfax
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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 rental 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.
Should you know more about our local real estate market?
Nesbitt Realty's Guide to Real Estate is a handy tool for everyone who needs to learn more about Fairfax and surrounding communities. The Guide to Real Estate provides facts about what has sold and what is currently listed, and a couple of shocking facts that you may not be aware of. And, our Guide spotlights some elements of living in Fairfax. Naturally, all of this is helpful for purchasers and sellers, but real estate investors and tenants might also find these tools to be quite edifying.