We are extremely meticulous with fiduciary matters.
As rental managers it is our duty to reconcile every penny of rent and each expense. Our staff work diligently to ensure that each property owner has the documentation to see exactly where is money is going to and coming from. To accomplish this duty 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. 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 funds we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. Furthermore, Nesbitt Realty never marks up 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 report. In January we send to 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 Rental Management Resources
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Basics
Fundamental information about what property management in Northern Virginia.
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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 renter 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 breakdown of prices of rental management services in Northern Virginia
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Vetting
How Nesbitt Realty vets renters for property owners.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage rental 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.
Should you know more about the area?
Nesbitt Realty's Guide to Real Estate is a free resource for everyone who needs to learn more about Northern Virginia and neighboring communities. The Guide to Real Estate includes information about what has sold and what is for sale, as well as a few shocking facts that you may not know. And, our Guide features some aspects of living in Northern Virginia. Certainly, all of this is helpful for purchasers and sellers, but owners and renters should also find these resources to be somewhat enlightening.