We are very careful with financial issues.
As property managers it is our solemn charge to reconcile every penny of income and each expense. All of us work relentlessly to make sure that each real estate investor has the documentation to see exactly where is income is going to and coming from. To accomplish this duty we use one of the most powerful programs in the management business: 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 shows the rent received as well as any bills that we have paid on the landlord's behalf. The monthly statement is also available electronically. The statement will describe what reserves we are holding on behalf of the landlord.
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 organize the monthly statements into a year-end statement. In January we mail the landlords, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Northern Virginia Rental Management Resources
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Basics
Elementary information regarding rental managment 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 great 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 rental management in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of tenants for our clients.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage 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 area?
Nesbitt Realty's Guide to Real Estate is a free tool for everyone who needs to find out more about Northern Virginia and nearby areas. The Guide to Real Estate compiles information regarding what has sold and what is on the market, as well as a few shocking facts that you may not know. Furthermore, our Guide features some benefits of life in Northern Virginia. Naturally, most of this is helpful for purchasers and sellers, but landlords and tenants should also find these resources to be quite enlightening.