We are very careful with money issues.
As property managers it is our solemn charge to reconcile every cent of rent and each expense. Our staff work hard to make sure that each rental investor has the documentation to know exactly where is money is going to and coming from. To accomplish this duty we work with 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 rental income as well as any expenses 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. Furthermore, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we organize the monthly statements into a year-end statement. In January we mail the rental investors, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Fairfax_Station Property Management Resources
Basics
Elementary info regarding management services in Fairfax_Station.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a great renter in Fairfax_Station fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A list of prices of property management services in Fairfax_Station
Vetting
How Nesbitt Realty vets renters for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rentals?
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 everyone who wants to learn more about Fairfax_Station and neighboring areas. The Guide to Real Estate provides information regarding what has sold and what is for sale, as well as many shocking facts that you might not know. Not to mention, our Guide has quite a few of the benefits of living in Fairfax_Station. As might be expected, most of this is useful for purchasers and sellers, but owners and renters might also find these tools to be somewhat informative.