We are especially meticulous with fiduciary issues.
As property managers it is our duty to keep close track on every penny of income and each expense. Our staff work relentlessly to make sure that each landlord has the tools and paperwork to see exactly where is income is going to and coming from. To accomplish this duty we use one of the most powerful software tools in the management business: Rent Manager.
We always try 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 rental income as well as any expenses that we have paid on the real estate investor's behalf. The monthly statement is also available electronically. The monthly statement will show what monies we are holding on behalf of the rental investor.
There is no additional charge for the reports or the accounting. In addition, 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 reports into a year-end report. In January we send to the property owners, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Northern Virginia Rental Management Resources
-
Basics
Fundamental info about what property management in Northern Virginia.
-
Getting Started
Learn more about getting started with rental property management
-
Find A Tenant
List your property to rent to find a great tenant in Northern Virginia fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
-
Cost
A breakdown of fees associated with rental management services in Northern Virginia
-
Vetting
How Nesbitt Realty checks the backgrounds of renters for our clients.
-
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 know more about this community?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who hopes to find out more about Northern Virginia and surrounding areas. The Guide to Real Estate has information regarding what has sold and what is on the market, as well as many compelling facts that you may not know. And, our Guide highlights quite a few of the elements of life in Northern Virginia. Yes, all of this is useful for purchasers and sellers, but property owners and tenants should also find this data to be quite informative.