We are extremely attentive with accounting details.
As rental managers it is our solemn charge 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 income is going to and coming from. To accomplish this task we employ 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 expenses that we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The statement will show what monies 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 report. In January we mail the landlords, 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
Basic information about what property management in Northern Virginia.
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Getting Started
Learn more about getting started with rental 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 landlords?
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Cost
A list of prices of rental management services in Northern Virginia
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Vetting
How Nesbitt Realty vets tenants for landlords.
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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.
Should you know more about the area?
Our Guide to Real Estate is a helpful resource for anyone who hopes to learn more about Northern Virginia and neighboring communities. The Guide to Real Estate has data regarding what has sold and what is for sale, as well as a few surprising facts that you may not know. In addition, our Guide features some assets of residing in Northern Virginia. Certainly, most of this is interesting for buyers and sellers, but owners and renters should also find the facts to be very eye-opening.