We are extremely precise about accounting matters.
As rental managers it is our duty to reconcile every penny of income and each expense. Our team work hard to ensure that each rental investor has the documentation to understand exactly where is income is going to and coming from. To accomplish this task we employ one of the most powerful programs in the management business: Rent Manager.
It is our practice 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 shows the rental income as well as any expenses which we have paid on the real estate investor's behalf. The monthly statement is also available online. The monthly statement will describe what funds we are holding on behalf of the rental investor.
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 report. In January we mail the rental investors, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Northern Virginia Rental Management Resources
-
Basics
Elementary information about what rental managment in Northern Virginia.
-
Getting Started
Learn more about getting started with rental property management
-
Find A Tenant
List 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
A breakdown of prices of property management services in Northern Virginia
-
Vetting
How Nesbitt Realty checks the backgrounds of tenants for property owners.
-
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 want know more about this area?
Our Guide to Real Estate is a free resource for anyone who hopes to review important real estate information about Northern Virginia and nearby communities. The Guide to Real Estate includes facts regarding what has sold and what is on the market, as well as some surprising facts that you may not be aware of. Furthermore, our Guide spotlights quite a few of the aspects of living in Northern Virginia. Of course, most of this is interesting for buyers and sellers, but landlords and tenants will also find the facts to be very useful.