We are extremely precise about money matters.
As property managers it is our solemn charge to account for every cent of income and each expense. All of us work relentlessly to make sure that every rental investor has the opportunity to understand exactly where is income is going to and coming from. To accomplish this duty we work with one of the most powerful software tools in our profession: Rent Manager.
It is our practice 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 expenses which we have paid on the rental property owner's behalf. The monthly statement is also available online. The monthly statement will describe what reserves we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end report. In January we send to 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.
Northern Virginia Property Management Resources
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Basics
Fundamental info about what property management in Northern Virginia.
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Getting Started
Learn more about getting started with property management
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Find A Tenant
Market your property to rent to find a dependable 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
An overview of prices of property management services in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of 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 want understand more about this area?
Our Guide to Real Estate is a helpful resource for anyone who needs to review important real estate information about Northern Virginia and surrounding areas. The Guide to Real Estate has information about what has sold and what is currently listed, and many surprising facts that you might not know. Not to mention, our Guide features many of the benefits of residing in Northern Virginia. Of course, most of this is useful for purchasers and sellers, but property owners and tenants may also find these resources to be very useful.