We are very serious about financial matters.
As rental managers it is our duty to reconcile every penny of rent and each expense. All of us work relentlessly to ensure that each rental 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 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 states the rent received as well as any expenses which we have paid on the rental investor's behalf. The monthly statement is also available electronically. The monthly statement will show what reserves 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 pads the price on 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 real estate investors, 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 Property Management Resources
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Basics
Elementary info about what 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 reliable renter 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 fees associated with rental management services in Fairfax
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Vetting
How Nesbitt Realty checks the backgrounds of renters for our clients.
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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 understand more about this community?
Nesbitt Realty's Guide to Real Estate is a free resource for anyone who wants to find out more about Fairfax and surrounding communities. The Guide to Real Estate has facts about what has sold and what is on the market, as well as many interesting facts that you might not be aware of. In addition, our Guide spotlights some benefits of living in Fairfax. Naturally, most of this is helpful for purchasers and sellers, but owners and tenants should also find these resources to be quite useful.