We are especially careful with fiduciary issues.
As property managers it is our duty to keep close track on every cent of income and each expense. All of us work hard to make sure that every property owner has the documentation to understand exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful software tools in our profession: Rent Manager.
We always try 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 shows the rent received as well as any bills which we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The monthly statement will show what reserves we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. Not to mention, 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 hand the 1099 to your tax preparer.
Oakton Rental Management Resources
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Basics
Elementary information regarding management services in Oakton.
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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 Oakton fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
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Cost
A breakdown of fees associated with rental management in Oakton
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Vetting
How Nesbitt Realty vets renters for our clients.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage rental property?
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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 know more about the local real estate market?
Our Guide to Real Estate is a free tool for anyone who wants to investigate real estate facts about Oakton and nearby areas. The Guide to Real Estate has facts about what has sold and what is on the market, and a few surprising facts that you may not be aware of. In addition, our Guide features quite a few of the fundamentals of life in Oakton. Of course, most of this is interesting for purchasers and sellers, but landlords and renters might also find this information to be somewhat informative.