We are especially precise about financial issues.
As rental managers it is our duty to account for every cent of income and each expense. Our staff work hard to make sure that each rental investor has the documentation to see exactly where is money is going to and coming from. To accomplish this duty we work with one of the most powerful software tools 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 shows the rent received as well as any bills that we have paid on the property owner's behalf. The monthly statement is also available electronically. The statement will describe what funds we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Furthermore, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end statement. In January we send to the real estate investors, 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 regarding 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
List your property to rent to find a reliable tenant in Northern Virginia fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
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Cost
A breakdown of prices of rental management 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 rental investments?
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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 the local real estate market?
Our Guide to Real Estate is a helpful resource for anyone who wants to review important real estate information about Northern Virginia and nearby areas. The Guide to Real Estate includes facts about what has sold and what is on the market, and a few surprising facts that you may not know. Furthermore, our Guide highlights many of the fundamentals of residing in Northern Virginia. Of course, all of this is useful for buyers and sellers, but owners and tenants will probably also find the facts to be very useful.