We are extremely careful with accounting issues.
As rental managers it is our solemn charge to account for every cent of rent and each expense. Our staff work diligently to make sure that every rental investor has the tools and paperwork to see exactly where is money is going to and coming from. To accomplish this task we employ one of the most powerful programs 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 rent received as well as any bills that we have paid on the rental investor's behalf. The monthly statement is also available online. The monthly report will show what funds we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. Furthermore, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we organize the monthly reports into a year-end statement. In January we send to the rental 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 property management in Northern Virginia.
-
Getting Started
Learn more about getting started with property management
-
Find A Tenant
List your property to rent to find a dependable tenant in Northern Virginia fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
-
Cost
An overview of prices of rental management in Northern Virginia
-
Vetting
How Nesbitt Realty checks the backgrounds of tenants for our clients.
-
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.
Should you know more about the local real estate market?
Nesbitt Realty's Guide to Real Estate is a free resource for everyone who wants to review important real estate information about Northern Virginia and nearby areas. The Guide to Real Estate compiles information regarding what has sold and what is currently listed, and some surprising facts that you may not be aware of. In addition, our Guide features quite a few of the benefits of life in Northern Virginia. Of course, all of this is useful for buyers and sellers, but real estate investors and renters might also find these tools to be somewhat useful.