We are extremely serious about fiduciary matters.
As rental property managers it is our solemn charge to account for every penny of income and each expense. All of us work hard 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 employ one of the most powerful programs in our profession: Rent Manager.
We usually 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 states 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 statement will describe what monies we are holding on behalf of the real estate investor.
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 report. In January we send to the real estate investors, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Northern Virginia Rental Management Resources
-
Basics
Fundamental info regarding property management 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 great renter in Northern Virginia fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
-
Cost
An overview of prices of rental management services in Northern Virginia
-
Vetting
How Nesbitt Realty checks the backgrounds of renters for property owners.
-
Reserves
What is a contingency reserve account?
-
Territory
Where does Nesbitt Realty manage rental 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 our local real estate market?
Our Guide to Real Estate is a handy resource for anyone who needs to investigate real estate facts about Northern Virginia and nearby communities. The Guide to Real Estate provides facts regarding what has sold and what is for sale, as well as a few shocking facts that you may not be aware of. Furthermore, our Guide has quite a few of the aspects of residing in Northern Virginia. Certainly, most of this is helpful for purchasers and sellers, but landlords and tenants should also find these resources to be somewhat eye-opening.