We are extremely serious about accounting matters.
As rental property managers it is our duty to account for every penny of rent and each expense. All of us work hard to make sure that every landlord has the opportunity to understand exactly where is money is going to and coming from. To accomplish this duty we employ one of the most powerful software tools in the management business: Rent Manager.
It is our practice to 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 rent received as well as any expenses that we have paid on the rental investor's behalf. The monthly statement is also available online. The statement will show what funds we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end statement. In January we mail the rental 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
Basics
Fundamental info regarding property management in Northern Virginia.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a great renter in Northern Virginia fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
An overview of prices of property management services in Northern Virginia
Vetting
How Nesbitt Realty checks the backgrounds of tenants for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental investments?
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 our local real estate market?
Nesbitt Realty's Guide to Real Estate is a free tool for everyone who hopes to review important real estate information about Northern Virginia and surrounding areas. The Guide to Real Estate provides information regarding what has sold and what is on the market, and a couple of interesting facts that you might not know. In addition, our Guide has some fundamentals of living in Northern Virginia. Naturally, most of this is helpful for buyers and sellers, but landlords and tenants should also find these tools to be somewhat useful.