We are especially conscientious regarding accounting matters.
As rental managers it is our solemn charge to keep close track on every penny of income and each expense. Our team work relentlessly to make sure that every real estate investor has the opportunity to understand exactly where is income is going to and coming from. To accomplish this duty we work with 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 states the rent received as well as any expenses that 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 real estate investor.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we compile 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 hand the 1099 to your tax preparer.
Northern Virginia Rental Management Resources
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Basics
Elementary information about what management services in Northern Virginia.
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Getting Started
Learn more about getting started with property management
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Find A Tenant
List your property to rent to find a reliable renter in Northern Virginia 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
A list of prices of property management services in Northern Virginia
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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 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 need understand more about the area?
Our Guide to Real Estate is a helpful resource for anyone who hopes to find out more about Northern Virginia and nearby communities. The Guide to Real Estate has data regarding what has sold and what is on the market, as well as many interesting facts that you may not know. Also, our Guide has quite a few of the fundamentals of living in Northern Virginia. As a matter of course, all of this is helpful for purchasers and sellers, but landlords and renters may also find this information to be somewhat edifying.