We are very precise about money details.
As rental property managers it is our solemn charge to reconcile every penny of income and each expense. All of us work hard to make sure that each rental investor has the documentation to see exactly where is money is going to and coming from. To accomplish this duty we use one of the most powerful software tools in our profession: Rent Manager.
We strive 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 real estate investor's behalf. The monthly statement is also available electronically. The statement will show what reserves we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never pads the price on 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 statement. In January we send to the landlords, and to the IRS, a 1099 stating the income for the rental 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 property management in Fairfax.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a reliable renter in Fairfax fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A breakdown of prices of rental management services in Fairfax
Vetting
How Nesbitt Realty checks the backgrounds of tenants 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 want know more about our community?
Nesbitt Realty's Guide to Real Estate is a handy tool for anyone who wants to learn more about Fairfax and nearby areas. The Guide to Real Estate has facts regarding what has sold and what is for sale, and a couple of interesting facts that you might not be aware of. Also, our Guide features some aspects of living in Fairfax. Of course, all of this is interesting for buyers and sellers, but rental investors and tenants may also find these resources to be quite useful.