We are extremely careful with money details.
As property managers it is our solemn charge to account for every cent of income and each expense. Our team work diligently to ensure that every property owner has the tools and paperwork to know exactly where is money is going to and coming from. To accomplish this duty we work with one of the most powerful programs in our profession: 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 rental income as well as any expenses which we have paid on the rental property owner's behalf. The monthly statement is also available online. The statement will show what reserves we are holding on behalf of the real estate investor.
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 organize the monthly reports into a year-end report. 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.
Northern Virginia Property Management Resources
-
Basics
Basic information about what management services 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 renter in Northern Virginia fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
-
Cost
A list of fees associated with rental management in Northern Virginia
-
Vetting
How Nesbitt Realty checks the backgrounds of renters for landlords.
-
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.
Do you need know more about this community?
Nesbitt Realty's Guide to Real Estate is a handy tool for everyone who needs to investigate real estate facts about Northern Virginia and surrounding communities. The Guide to Real Estate compiles data regarding what has sold and what is on the market, as well as a few surprising facts that you might not be aware of. And, our Guide highlights some elements of residing in Northern Virginia. Of course, all of this is interesting for buyers and sellers, but real estate investors and renters should also find these tools to be quite edifying.