We are extra attentive with fiduciary issues.
As rental managers it is our duty to account for every cent of income and each expense. Our team work relentlessly to make sure that every real estate investor has the opportunity 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 our profession: 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 rent received as well as any expenses which we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The statement will show what funds we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. In addition, 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 report. In January we mail the property owners, and to the IRS, a 1099 stating the income for the rental. 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 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 dependable 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
A breakdown of fees associated with rental management 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 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?
Our Guide to Real Estate is a helpful tool for anyone who wants to review important real estate information about Northern Virginia and neighboring communities. The Guide to Real Estate compiles data regarding what has sold and what is on the market, and many surprising facts that you might not know. Furthermore, our Guide highlights quite a few of the assets of residing in Northern Virginia. Definitely, all of this is useful for purchasers and sellers, but property owners and renters may also find this information to be quite informative.