We are especially serious about money details.
As rental property managers it is our solemn charge to keep close track on every cent of income and each expense. All of us work relentlessly to ensure that every rental property owner has the documentation to understand exactly where is income is going to and coming from. To accomplish this duty we use 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. Funds 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 that we have paid on the landlord's behalf. The monthly statement is also available online. The statement will describe what reserves we are holding on behalf of the rental investor.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. At the end of the year, we organize 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 rental. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Fairfax Rental Management Resources
Basics
Basic info regarding rental managment in Fairfax.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a dependable tenant in Fairfax fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A list of fees associated with rental management in Fairfax
Vetting
How Nesbitt Realty checks the backgrounds of renters for landlords.
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 need understand more about our local real estate market?
Nesbitt Realty's Guide to Real Estate is a free resource for everyone who hopes to review important real estate information about Fairfax and surrounding communities. The Guide to Real Estate has facts regarding what has sold and what is for sale, as well as many compelling facts that you may not be aware of. Furthermore, our Guide has some benefits of life in Fairfax. Of course, most of this is helpful for buyers and sellers, but owners and tenants should also find this information to be somewhat useful.