We are especially careful with fiduciary details.
As property managers it is our duty to account for every cent of rent and each expense. Our staff work relentlessly to ensure that each rental property owner has the tools and paperwork to understand exactly where is money is going to and coming from. To accomplish this task we work with one of the most powerful programs in the management business: Rent Manager.
We always try 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 rent received as well as any bills which we have paid on the rental investor's behalf. The monthly statement is also available online. The monthly report will show what reserves we are holding on behalf of the property owner.
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. Annually, we compile the monthly statements into a year-end statement. In January we send to the rental property owners, 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.
Northern Virginia Rental Management Resources
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Basics
Fundamental info regarding rental managment in Northern Virginia.
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Getting Started
Learn more about getting started with property management
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Find A Tenant
List your property to rent to find a dependable tenant in Northern Virginia fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
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Cost
An overview of prices of property management services in Northern Virginia
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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 need understand more about the area?
Nesbitt Realty's Guide to Real Estate is a handy tool for anyone who needs to find out more about Northern Virginia and neighboring communities. The Guide to Real Estate includes information about what has sold and what is on the market, as well as many compelling facts that you might not know. In addition, our Guide spotlights quite a few of the assets of residing in Northern Virginia. Yes, most of this is interesting for purchasers and sellers, but rental investors and renters should also find this data to be very useful.