We are especially conscientious regarding financial details.
As rental managers it is our solemn charge to reconcile every cent of income and each expense. Our staff work hard to ensure that every rental property owner has the opportunity to know exactly where is income is going to and coming from. To accomplish this duty we use one of the most powerful software tools in the management business: Rent Manager.
We usually 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 rent received as well as any expenses which we have paid on the rental property owner's behalf. The monthly statement is also available online. The statement will show what funds we are holding on behalf of the rental investor.
There is no additional charge for the reports or the accounting. Not to mention, 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 reports into a year-end report. In January we mail 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 give the 1099 to your tax preparer.
Fairfax Property Management Resources
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Basics
Elementary information about what management services in Fairfax.
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Getting Started
Learn more about getting started with property management
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Find A Tenant
Market your property to rent to find a great renter in Fairfax fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
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Cost
A breakdown of prices of rental management services in Fairfax
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Vetting
How Nesbitt Realty checks the backgrounds of renters for our clients.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage rentals?
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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 understand more about this local real estate market?
Our Guide to Real Estate is a handy tool for everyone who hopes to review important real estate information about Fairfax and surrounding areas. The Guide to Real Estate has information about what has sold and what is currently listed, and many compelling facts that you may not know. Furthermore, our Guide highlights some fundamentals of living in Fairfax. Definitely, all of this is helpful for purchasers and sellers, but landlords and tenants will probably also find this data to be very eye-opening.