We are especially conscientious regarding financial matters.
As property managers it is our solemn charge to reconcile every penny of income and each expense. Our team work relentlessly to make sure that each real estate investor has the tools and paperwork to understand 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 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 rental income as well as any bills which we have paid on the landlord's behalf. The monthly statement is also available online. The monthly report will describe what monies we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. In addition, 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 statements into a year-end report. In January we mail the rental property owners, 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 Rental Management Resources
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Basics
Basic info regarding management services in Fairfax.
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Getting Started
Learn more about getting started with rental property management
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Find A Tenant
Market your property to rent to find a dependable tenant 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 list of prices of property management services in Fairfax
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Vetting
How Nesbitt Realty vets renters for landlords.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage rental investments?
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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 need understand more about the local real estate market?
Our Guide to Real Estate is a handy resource for everyone who needs to learn more about Fairfax and surrounding communities. The Guide to Real Estate has facts regarding what has sold and what is on the market, as well as a couple of compelling facts that you may not know. In addition, our Guide highlights some benefits of living in Fairfax. Of course, most of this is interesting for purchasers and sellers, but landlords and tenants will likely also find these tools to be quite sobering.