We are especially attentive with money matters.
As property managers it is our solemn charge to keep close track on every cent of income and each expense. Our team work relentlessly to ensure that each landlord has the opportunity to know exactly where is income is going to and coming from. To accomplish this task we use 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 shows the rent received as well as any expenses which we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly statement will describe what reserves 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 marks up the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly reports into a year-end report. In January we mail the rental 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
Fundamental information about what management services in Northern Virginia.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a dependable renter in Northern Virginia fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A list of fees associated with rental management in Northern Virginia
Vetting
How Nesbitt Realty checks the backgrounds of renters for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental 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 our area?
Our Guide to Real Estate is a helpful resource for anyone who needs to learn more about Northern Virginia and neighboring areas. The Guide to Real Estate has facts about what has sold and what is currently listed, and some surprising facts that you may not know. Furthermore, our Guide spotlights quite a few of the assets of life in Northern Virginia. Of course, all of this is useful for purchasers and sellers, but property owners and renters will likely also find this information to be quite sobering.