We are especially attentive with fiduciary issues.
As rental managers it is our duty to account for every cent of rent and each expense. All of us work diligently to ensure that every landlord has the tools and paperwork to see exactly where is money is going to and coming from. To accomplish this duty we employ 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. Funds 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 that we have paid on the property owner's behalf. The monthly statement is also available electronically. The statement will describe what reserves we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly statements into a year-end report. In January we send to the rental investors, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Northern Virginia Property Management Resources
Basics
Elementary information regarding property management in Northern Virginia.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a dependable tenant in Northern Virginia fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A list of fees associated with rental management in Northern Virginia
Vetting
How Nesbitt Realty checks the backgrounds of renters for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental property?
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 want understand more about this area?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who needs to review important real estate information about Northern Virginia and nearby communities. The Guide to Real Estate has information regarding what has sold and what is currently listed, and a couple of shocking facts that you might not be aware of. Not to mention, our Guide spotlights some assets of living in Northern Virginia. Naturally, all of this is helpful for buyers and sellers, but property owners and renters will probably also find these resources to be very edifying.