We are especially careful with money matters.
As rental managers it is our duty to keep close track on every penny of income and each expense. All of us work relentlessly to make sure that every property owner has the documentation to see exactly where is income is going to and coming from. To accomplish this task we employ one of the most powerful software tools in the management business: Rent Manager.
We always try 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 property owner's behalf. The monthly statement is also available electronically. The monthly statement will show what monies we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. Furthermore, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we organize 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 rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Potomac Yard Rental Management Resources
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Basics
Fundamental information about what property management in Potomac Yard.
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Getting Started
Learn more about getting started with rental property management
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Find A Tenant
Market your property to rent to find a reliable renter in Potomac Yard fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
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Cost
A breakdown of prices of property management services in Potomac Yard
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Vetting
How Nesbitt Realty checks the backgrounds of renters for landlords.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage rental 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 this local real estate market?
Nesbitt Realty's Guide to Real Estate is a helpful resource for everyone who hopes to review important real estate information about Potomac Yard and nearby areas. The Guide to Real Estate has facts about what has sold and what is for sale, and many interesting facts that you may not know. In addition, our Guide features many of the aspects of life in Potomac Yard. Certainly, most of this is interesting for buyers and sellers, but landlords and tenants may also find the facts to be very edifying.