We are very meticulous with money matters.
As property managers it is our solemn charge to reconcile every cent of income and each expense. All of us work hard to make sure that every rental property owner has the tools and paperwork to see exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful programs in the management business: Rent Manager.
It is our practice 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 states the rent received as well as any expenses which we have paid on the landlord's behalf. The monthly statement is also available online. The monthly report will show what funds we are holding on behalf of the rental investor.
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 reports 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
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Basics
Basic information about what management services in Northern Virginia.
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Getting Started
Learn more about getting started with property management
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Find A Tenant
Market 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 checks the backgrounds of tenants for our clients.
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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.
Do you need understand more about our local real estate market?
Nesbitt Realty's Guide to Real Estate is a free resource for anyone who needs to find out more about Northern Virginia and surrounding areas. The Guide to Real Estate compiles information about what has sold and what is on the market, as well as a few shocking facts that you might not be aware of. And, our Guide has many of the aspects of life in Northern Virginia. Of course, all of this is interesting for purchasers and sellers, but landlords and renters will probably also find this data to be quite edifying.