We are extremely serious about financial matters.
As property managers it is our solemn charge to account for every penny of rent and each expense. All of us work diligently to make sure that every property owner has the documentation to know exactly where is income is going to and coming from. To accomplish this duty we work with one of the most powerful software tools in the management business: Rent Manager.
We strive 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 states the rental income as well as any expenses which we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly statement will describe what monies we are holding on behalf of the property owner.
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 reports into a year-end report. In January we mail the property owners, 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
Elementary information regarding management services in Northern Virginia.
-
Getting Started
Learn more about getting started with rental property management
-
Find A Tenant
Market your property to rent to find a reliable tenant in Northern Virginia fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
-
Cost
An overview of fees associated with rental management in Northern Virginia
-
Vetting
How Nesbitt Realty vets renters for property owners.
-
Reserves
What is a contingency reserve account?
-
Territory
Where does Nesbitt Realty manage rentals?
-
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 community?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who needs to investigate real estate facts about Northern Virginia and surrounding communities. The Guide to Real Estate compiles facts regarding what has sold and what is currently listed, as well as many interesting facts that you might not be aware of. Not to mention, our Guide features quite a few of the assets of life in Northern Virginia. As might be expected, most of this is useful for buyers and sellers, but owners and tenants should also find these resources to be somewhat useful.