We are extremely careful with accounting matters.
As rental managers it is our duty to account for every penny of income and each expense. All of us work hard to make sure that each rental investor has the tools and paperwork to know exactly where is income is going to and coming from. To accomplish this task we employ one of the most powerful software tools in our profession: Rent Manager.
We strive 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 rental income as well as any expenses that we have paid on the rental property owner's behalf. The monthly statement is also available online. The monthly statement will show what funds we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. Furthermore, 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 landlords, 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
-
Basics
Elementary information about what 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 reliable renter in Northern Virginia fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
-
Cost
An overview of fees associated with rental 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 property?
-
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 community?
Nesbitt Realty's Guide to Real Estate is a handy resource for anyone who wants to learn more about Northern Virginia and neighboring communities. The Guide to Real Estate compiles facts regarding what has sold and what is on the market, and a few compelling facts that you may not know. And, our Guide has some assets of residing in Northern Virginia. As a matter of course, most of this is helpful for buyers and sellers, but landlords and renters will probably also find the facts to be quite useful.