We are extra meticulous with financial matters.
As rental property managers it is our solemn charge to reconcile every cent of rent and each expense. All of us work hard to ensure that every rental property owner has the tools and paperwork to know exactly where is money is going to and coming from. To accomplish this duty we use 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. 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 landlord's behalf. The monthly statement is also available electronically. The monthly report will show what funds we are holding on behalf of the real estate investor.
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. At the end of the year, we organize the monthly statements into a year-end report. In January we send to the real estate investors, 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 Property Management Resources
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Basics
Elementary 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
Market your property to rent to find a reliable 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
An overview of prices of property management services in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of tenants 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 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 want understand more about our community?
Nesbitt Realty's Guide to Real Estate is a handy tool for everyone who wants to investigate real estate facts about Northern Virginia and neighboring communities. The Guide to Real Estate compiles data about what has sold and what is currently listed, as well as a few compelling facts that you may not know. In addition, our Guide features some benefits of residing in Northern Virginia. Definitely, most of this is useful for purchasers and sellers, but property owners and renters will probably also find the facts to be quite enlightening.