We are extremely precise about accounting issues.
As property managers it is our solemn charge to account for every cent of rent and each expense. Our team work hard to make sure that every real estate investor has the tools and paperwork to understand exactly where is money is going to and coming from. To accomplish this duty we use 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. Funds 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 property owner's behalf. The monthly statement is also available online. The monthly statement will show what funds we are holding on behalf of the rental property owner.
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. Annually, we organize the monthly reports into a year-end statement. In January we send to the 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
-
Basics
Fundamental information regarding rental managment in Northern Virginia.
-
Getting Started
Learn more about getting started with property management
-
Find A Tenant
Market your property to rent to find a reliable tenant in Northern Virginia fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
-
Cost
An overview of fees associated with rental management services in Northern Virginia
-
Vetting
How Nesbitt Realty checks the backgrounds of renters for landlords.
-
Reserves
What is a contingency reserve account?
-
Territory
Where does Nesbitt Realty manage rentals?
-
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 our area?
Nesbitt Realty's Guide to Real Estate is a helpful tool for everyone who hopes to learn more about Northern Virginia and nearby areas. The Guide to Real Estate includes facts about what has sold and what is currently listed, and a couple of compelling facts that you may not be aware of. Furthermore, our Guide has quite a few of the elements of living in Northern Virginia. Of course, all of this is interesting for buyers and sellers, but property owners and renters will also find the facts to be somewhat enlightening.