We are especially meticulous with fiduciary matters.
As rental managers it is our duty to keep close track on every penny of income and each expense. All of us work relentlessly to ensure that each landlord has the tools and paperwork to understand exactly where is income is going to and coming from. To accomplish this duty we employ one of the most powerful software tools in our profession: Rent Manager.
We usually 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 real estate investor's behalf. The monthly statement is also available online. The monthly statement will describe what monies we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never pads the price on 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 report. In January we send to the rental investors, 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
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Basics
Basic info regarding management services 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
Market your property to rent to find a great tenant 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
An overview of fees associated with property management services in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of renters for property owners.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage rentals?
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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 this area?
Nesbitt Realty's Guide to Real Estate is a handy resource for everyone who wants to find out more about Northern Virginia and surrounding communities. The Guide to Real Estate includes information regarding what has sold and what is for sale, as well as a couple of interesting facts that you might not be aware of. And, our Guide highlights some assets of residing in Northern Virginia. Certainly, most of this is interesting for buyers and sellers, but real estate investors and renters will probably also find these resources to be very edifying.