We are extra precise about fiduciary issues.
As property managers it is our solemn charge to keep close track on every cent of income and each expense. All of us work diligently to ensure that every property owner has the tools and paperwork to know exactly where is income is going to and coming from. To accomplish this task we work with one of the most powerful programs in our profession: Rent Manager.
We strive to 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 expenses that we have paid on the landlord's behalf. The monthly statement is also available electronically. 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. Furthermore, Nesbitt Realty never pads the price on 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 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 give the 1099 to your tax preparer.
Northern Virginia Rental Management Resources
Basics
Basic information regarding management services in Northern Virginia.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a great renter in Northern Virginia 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 Northern Virginia
Vetting
How Nesbitt Realty vets renters for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental investments?
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 know more about this area?
Our Guide to Real Estate is a helpful resource for everyone who needs to find out more about Northern Virginia and nearby areas. The Guide to Real Estate compiles data about what has sold and what is on the market, and some compelling facts that you might not be aware of. And, our Guide highlights quite a few of the elements of life in Northern Virginia. Definitely, all of this is interesting for purchasers and sellers, but rental investors and renters may also find this information to be very enlightening.