We are extremely meticulous with financial issues.
As rental managers it is our solemn charge to account for every cent of rent and each expense. Our staff work diligently to make sure that every rental investor has the opportunity to know exactly where is income is going to and coming from. To accomplish this task we work with one of the most powerful programs in our profession: Rent Manager.
It is our practice 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 rent received as well as any bills that we have paid on the real estate investor's behalf. The monthly statement is also available online. The monthly report will show what reserves we are holding on behalf of the rental investor.
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. Annually, we compile the monthly statements into a year-end report. In January we send to the property owners, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Northern Virginia Property Management Resources
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Basics
Fundamental information regarding rental managment 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
List 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 breakdown of prices of property 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 rental investments?
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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 this local real estate market?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who wants to review important real estate information about Northern Virginia and nearby areas. The Guide to Real Estate compiles information regarding what has sold and what is for sale, and a few compelling facts that you might not know. Also, our Guide has many of the elements of life in Northern Virginia. Of course, most of this is helpful for buyers and sellers, but owners and tenants should also find this information to be quite informative.