We are very precise about fiduciary matters.
As rental property managers it is our duty to reconcile every penny of rent and each expense. All of us work relentlessly to make sure that each rental investor has the opportunity to see exactly where is income is going to and coming from. To accomplish this duty we employ 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. Rents 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 which we have paid on the real estate investor's behalf. The monthly statement is also available online. The statement will show 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 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. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Northern Virginia Rental Management Resources
Basics
Elementary information regarding property management in Northern Virginia.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a reliable 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 property management services in Northern Virginia
Vetting
How Nesbitt Realty vets renters for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage 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.
Should you understand more about this community?
Our Guide to Real Estate is a handy resource for anyone who wants to find out more about Northern Virginia and nearby communities. The Guide to Real Estate includes data regarding what has sold and what is on the market, as well as a couple of shocking facts that you may not be aware of. Furthermore, our Guide features some benefits of residing in Northern Virginia. Certainly, most of this is helpful for buyers and sellers, but owners and tenants will probably also find this data to be somewhat edifying.