We are extra conscientious regarding money details.
As rental property managers it is our duty to keep close track on every cent of rent and each expense. All of us work relentlessly to ensure that each rental property owner has the documentation to understand exactly where is money is going to and coming from. To accomplish this task we employ 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. Funds 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 bills that we have paid on the landlord's behalf. The monthly statement is also available online. The 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. Also, 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 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
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
An overview of prices of property 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 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 community?
Our Guide to Real Estate is a handy tool for everyone who needs to investigate real estate facts about Fairfax and nearby communities. The Guide to Real Estate includes information regarding what has sold and what is for sale, as well as many interesting facts that you may not be aware of. Furthermore, our Guide has many of the assets of living in Fairfax. Yes, all of this is interesting for buyers and sellers, but landlords and tenants might also find these resources to be very edifying.