We are extra careful with accounting issues.
As rental property managers it is our solemn charge to keep close track on every penny of income and each expense. Our staff work hard to make sure that each real estate investor 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 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 states the rental income as well as any expenses which we have paid on the landlord'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. In addition, 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 property owners, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Northern Virginia Property Management Resources
Basics
Basic info regarding rental managment in Northern Virginia.
Getting Started
Learn more about getting started with 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 real estate investors?
Cost
A list of prices of property management services in Northern Virginia
Vetting
How Nesbitt Realty vets 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.
Do you need understand more about our local real estate market?
Nesbitt Realty's Guide to Real Estate is a free resource for everyone who wants to learn more about Northern Virginia and surrounding areas. The Guide to Real Estate compiles information regarding what has sold and what is currently listed, as well as some shocking facts that you might not know. In addition, our Guide highlights many of the elements of living in Northern Virginia. Naturally, most of this is useful for purchasers and sellers, but owners and tenants will probably also find these tools to be very edifying.