We are extra conscientious regarding money matters.
As rental managers it is our duty to keep close track on every penny of rent and each expense. Our team work hard to ensure that each rental property owner has the tools and paperwork to know exactly where is money is going to and coming from. To accomplish this duty we work with one of the most powerful software tools in the management business: Rent Manager.
We always try 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 rent received as well as any bills which we have paid on the property owner's behalf. The monthly statement is also available online. The monthly 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. Annually, we organize the monthly statements into a year-end statement. In January we send to 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 hand the 1099 to your tax preparer.
Northern Virginia Rental Management Resources
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Basics
Fundamental information about what management services in Northern Virginia.
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Getting Started
Learn more about getting started with property management
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Find A Tenant
List your property to rent to find a reliable renter in Northern Virginia 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 fees associated with property management services in Northern Virginia
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Vetting
How Nesbitt Realty vets tenants for property owners.
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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.
Should you understand more about the community?
Nesbitt Realty's Guide to Real Estate is a helpful tool for anyone who needs to review important real estate information about Northern Virginia and neighboring areas. The Guide to Real Estate includes data regarding what has sold and what is currently listed, and many shocking facts that you may not know. Furthermore, our Guide spotlights quite a few of the benefits of life in Northern Virginia. Certainly, most of this is useful for buyers and sellers, but real estate investors and tenants might also find these tools to be quite useful.