We are extra serious about money 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 ensure that every rental investor has the tools and paperwork 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.
We usually 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 rent received as well as any bills that we have paid on the rental investor's behalf. The monthly statement is also available online. The monthly statement will show what reserves we are holding on behalf of the real estate 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. At the end of the year, we compile the monthly statements into a year-end report. In January we send to the real estate investors, 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 info about what management services in Northern Virginia.
-
Getting Started
Learn more about getting started with rental property management
-
Find A Tenant
Market 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 property owners?
-
Cost
A breakdown of prices of property management services in Northern Virginia
-
Vetting
How Nesbitt Realty checks the backgrounds of tenants for our clients.
-
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 understand more about this community?
Our Guide to Real Estate is a free resource for anyone who wants to learn more about Northern Virginia and neighboring communities. The Guide to Real Estate has data about what has sold and what is on the market, as well as a few interesting facts that you might not be aware of. In addition, our Guide spotlights many of the elements of living in Northern Virginia. Definitely, all of this is interesting for buyers and sellers, but rental investors and tenants may also find these tools to be very edifying.