We are especially precise about accounting matters.
As rental property managers it is our duty to keep close track on every cent of income and each expense. Our team work diligently to ensure that each landlord has the opportunity to see exactly where is money is going to and coming from. To accomplish this duty we work with one of the most powerful programs in the management business: Rent Manager.
We usually 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 rent received as well as any bills that we have paid on the rental investor's behalf. The monthly statement is also available online. The statement will describe 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 compile the monthly reports into a year-end report. In January we mail the rental investors, 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 Rental Management Resources
Basics
Basic information regarding management services in Fairfax.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a dependable renter in Fairfax fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A list of prices of rental management services in Fairfax
Vetting
How Nesbitt Realty checks the backgrounds of renters 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.
Do you want know more about this area?
Our Guide to Real Estate is a free resource for anyone who hopes to investigate real estate facts about Fairfax and surrounding areas. The Guide to Real Estate compiles facts regarding what has sold and what is on the market, and a couple of surprising facts that you might not be aware of. Also, our Guide features quite a few of the aspects of living in Fairfax. Yes, all of this is useful for buyers and sellers, but owners and renters will also find these tools to be somewhat informative.