We are especially precise about fiduciary details.
As rental property managers it is our duty to keep close track on every penny of income and each expense. Our team work relentlessly to make sure that each property owner has the tools and paperwork to know exactly where is income is going to and coming from. To accomplish this duty we employ 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. Rents 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 expenses that we have paid on the real estate investor's behalf. The monthly statement is also available electronically. The monthly report 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. At the end of the year, we compile the monthly statements into a year-end statement. In January we send to the rental investors, 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
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Basics
Fundamental info regarding property management in Northern Virginia.
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Getting Started
Learn more about getting started with property management
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Find A Tenant
Market 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
An overview of fees associated with rental management services in Northern Virginia
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Vetting
How Nesbitt Realty vets tenants for property owners.
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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 our local real estate market?
Our Guide to Real Estate is a handy tool for everyone who needs to learn more about Northern Virginia and nearby communities. The Guide to Real Estate includes data regarding what has sold and what is currently listed, as well as some surprising facts that you might not know. Also, our Guide spotlights many of the aspects of living in Northern Virginia. Naturally, all of this is interesting for purchasers and sellers, but owners and tenants should also find these resources to be very informative.