We are especially meticulous with financial issues.
As rental property managers it is our solemn charge to account for every penny of rent and each expense. Our team work relentlessly to make sure that each property owner has the documentation to know exactly where is money is going to and coming from. To accomplish this duty we use one of the most powerful programs in our profession: 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 bills which we have paid on the rental investor's behalf. The monthly statement is also available electronically. The monthly statement will show what funds we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. And, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly reports into a year-end report. In January we send to the property owners, 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
Basic information regarding rental managment in Northern Virginia.
-
Getting Started
Learn more about getting started with property management
-
Find A Tenant
Market your property to rent to find a great renter in Northern Virginia fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
-
Cost
A list of prices of property management services in Northern Virginia
-
Vetting
How Nesbitt Realty vets tenants for our clients.
-
Reserves
What is a contingency reserve account?
-
Territory
Where does Nesbitt Realty manage rental investments?
-
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 local real estate market?
Nesbitt Realty's Guide to Real Estate is a helpful tool for everyone who hopes to learn more about Northern Virginia and surrounding areas. The Guide to Real Estate has information about what has sold and what is on the market, and some shocking facts that you might not know. Furthermore, our Guide highlights many of the benefits of living in Northern Virginia. Certainly, most of this is helpful for purchasers and sellers, but real estate investors and tenants might also find the facts to be quite edifying.