We are especially careful with accounting details.
As rental property managers it is our solemn charge to reconcile every cent of income and each expense. All of us work hard to make sure that each property owner has the documentation to see 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. Funds 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 bills which we have paid on the rental investor's behalf. The monthly statement is also available electronically. The statement will show what funds we are holding on behalf of the property owner.
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 compile the monthly statements into a year-end statement. In January we mail the rental property owners, 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 Rental Management Resources
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Basics
Basic information about what 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
Market your property to rent to find a reliable 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
A list of fees associated with rental management services in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of tenants 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.
Do you want understand more about this area?
Our Guide to Real Estate is a helpful resource for anyone who hopes to review important real estate information about Northern Virginia and nearby areas. The Guide to Real Estate has data regarding what has sold and what is currently listed, and a few shocking facts that you may not know. Not to mention, our Guide has many of the assets of life in Northern Virginia. As a matter of course, all of this is helpful for purchasers and sellers, but owners and renters may also find these resources to be somewhat edifying.