We are extremely attentive with accounting details.
As rental property managers it is our solemn charge to account for every cent of rent and each expense. All of us work diligently to make sure that every property owner has the opportunity to understand exactly where is money is going to and coming from. To accomplish this duty 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. Funds are deposited into an escrow account (not into our operating account). We prepare a monthly statement that shows the rental income as well as any expenses which we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly report will describe what monies we are holding on behalf of the rental 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 organize the monthly statements into a year-end report. In January we send to the rental investors, and to the IRS, a 1099 stating the income for the rental 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
Fundamental information regarding property management in Northern Virginia.
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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 great tenant in Northern Virginia fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
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Cost
A list of prices of rental management services in Northern Virginia
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Vetting
How Nesbitt Realty vets 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 our local real estate market?
Our Guide to Real Estate is a helpful resource for everyone who hopes to learn more about Northern Virginia and surrounding areas. The Guide to Real Estate has information regarding what has sold and what is on the market, as well as some shocking facts that you may not be aware of. And, our Guide features many of the benefits of life in Northern Virginia. Naturally, all of this is useful for purchasers and sellers, but real estate investors and renters will likely also find these resources to be somewhat eye-opening.