We are especially meticulous with accounting issues.
As rental managers it is our solemn charge to account for every cent of income and each expense. All of us work hard to ensure that every rental property owner has the documentation to understand exactly where is money 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 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 bills which we have paid on the property owner's behalf. The monthly statement is also available electronically. The 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. Annually, we compile the monthly reports into a year-end report. In January we send to 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 Rental Management Resources
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Basics
Basic 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 dependable tenant 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
A breakdown of prices of property management services in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of renters 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.
Should you know more about this area?
Nesbitt Realty's Guide to Real Estate is a helpful resource for everyone who hopes to review important real estate information about Northern Virginia and neighboring communities. The Guide to Real Estate includes information about what has sold and what is on the market, as well as a few interesting facts that you might not know. And, our Guide highlights many of the assets of residing in Northern Virginia. Of course, all of this is useful for purchasers and sellers, but property owners and renters might also find the facts to be very useful.