We are extra precise about money matters.
As rental managers it is our duty to account for every penny of rent and each expense. Our team work diligently to make sure that every landlord has the documentation to understand exactly where is income is going to and coming from. To accomplish this duty we employ 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. Funds 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 online. The monthly statement will describe what funds we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. And, 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 mail 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 Rental Management Resources
-
Basics
Elementary info regarding rental managment in Fairfax.
-
Getting Started
Learn more about getting started with property management
-
Find A Tenant
Market 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 in Fairfax
-
Vetting
How Nesbitt Realty vets tenants for property owners.
-
Reserves
What is a contingency reserve account?
-
Territory
Where does Nesbitt Realty manage rentals?
-
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 understand more about this area?
Our Guide to Real Estate is a handy resource for anyone who hopes to review important real estate information about Fairfax and neighboring areas. The Guide to Real Estate compiles information about what has sold and what is for sale, and a few surprising facts that you may not know. And, our Guide features quite a few of the benefits of living in Fairfax. Of course, all of this is helpful for purchasers and sellers, but landlords and tenants will likely also find this data to be somewhat enlightening.