We are extra serious about accounting issues.
As rental 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 rental investor has the documentation to see exactly where is money is going to and coming from. To accomplish this duty we work with one of the most powerful programs in the management business: Rent Manager.
We usually 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 bills that we have paid on the real estate investor's behalf. The monthly statement is also available electronically. The monthly report will describe what monies we are holding on behalf of the 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. At the end of the year, we compile the monthly statements into a year-end statement. In January we mail 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 give the 1099 to your tax preparer.
Northern Virginia Rental Management Resources
Basics
Basic info about what rental managment 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 reliable renter in Northern Virginia fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A list of prices of rental management in Northern Virginia
Vetting
How Nesbitt Realty checks the backgrounds of renters for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental property?
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 understand more about this local real estate market?
Our Guide to Real Estate is a helpful resource for everyone who needs to review important real estate information about Northern Virginia and neighboring communities. The Guide to Real Estate provides information regarding what has sold and what is currently listed, as well as a couple of shocking facts that you may not know. And, our Guide highlights some fundamentals of life in Northern Virginia. Definitely, most of this is helpful for purchasers and sellers, but real estate investors and tenants might also find these tools to be quite edifying.