We are very attentive with accounting details.
As rental managers it is our solemn charge to keep close track on every penny of rent and each expense. Our team work hard to make sure that each landlord has the documentation to understand exactly where is money is going to and coming from. To accomplish this task we use 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 that we have paid on the rental property owner's behalf. The monthly statement is also available online. The monthly statement will describe what reserves we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. And, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we organize the monthly reports into a year-end statement. In January we mail the real estate 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.
West Falls Church Property Management Resources
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Basics
Fundamental information regarding property management in West Falls Church.
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Getting Started
Learn more about getting started with rental property management
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Find A Tenant
Market your property to rent to find a great tenant in West Falls Church fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
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Cost
An overview of fees associated with rental management in West Falls Church
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Vetting
How Nesbitt Realty vets renters for landlords.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage rentals?
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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 know more about the local real estate market?
Nesbitt Realty's Guide to Real Estate is a handy resource for anyone who hopes to review important real estate information about West Falls Church and surrounding communities. The Guide to Real Estate compiles information about what has sold and what is on the market, as well as some shocking facts that you may not be aware of. In addition, our Guide spotlights some aspects of living in West Falls Church. Of course, all of this is helpful for purchasers and sellers, but landlords and renters will also find this information to be quite useful.