We are very careful with financial details.
As rental managers it is our duty to reconcile every cent of rent and each expense. Our team work hard to ensure that each real estate investor has the tools and paperwork to know exactly where is income is going to and coming from. To accomplish this duty we use one of the most powerful software tools in our profession: Rent Manager.
It is our practice to 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 shows the rent received as well as any expenses that we have paid on the landlord's behalf. The monthly statement is also available online. The monthly report will show what reserves we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end statement. In January we mail the rental investors, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Northern Virginia Property Management Resources
-
Basics
Basic info 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 reliable renter in Northern Virginia fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
-
Cost
A list of fees associated with rental management in Northern Virginia
-
Vetting
How Nesbitt Realty vets renters for landlords.
-
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.
Do you need know more about this community?
Our Guide to Real Estate is a handy resource for anyone who needs to learn more about Northern Virginia and surrounding communities. The Guide to Real Estate includes facts about what has sold and what is currently listed, as well as many shocking facts that you might not know. And, our Guide features some assets of living in Northern Virginia. As a matter of course, all of this is helpful for purchasers and sellers, but landlords and tenants will also find this information to be somewhat edifying.