We are especially attentive with financial matters.
As property managers it is our duty to account for every penny of rent and each expense. Our staff work diligently to make sure that each rental investor has the documentation to know exactly where is money is going to and coming from. To accomplish this duty we work with one of the most powerful software tools in the management business: Rent Manager.
We strive 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 states the rental income as well as any expenses which we have paid on the rental investor's behalf. The monthly statement is also available electronically. The statement will describe 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 compile the monthly statements into a year-end statement. In January we mail the landlords, 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.
Fairfax Property Management Resources
-
Basics
Basic information regarding management services in Fairfax.
-
Getting Started
Learn more about getting started with property management
-
Find A Tenant
List your property to rent to find a great tenant in Fairfax fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
-
Cost
An overview of prices of property management services in Fairfax
-
Vetting
How Nesbitt Realty vets renters for landlords.
-
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 want know more about the area?
Nesbitt Realty's Guide to Real Estate is a helpful tool for everyone who hopes to learn more about Fairfax and nearby areas. The Guide to Real Estate has data about what has sold and what is on the market, and many surprising facts that you may not know. Not to mention, our Guide has some assets of life in Fairfax. Certainly, most of this is helpful for purchasers and sellers, but real estate investors and tenants may also find the facts to be quite eye-opening.