We are especially precise about accounting issues.
As property managers it is our duty to reconcile every cent of rent and each expense. All of us work diligently to ensure that each rental property owner has the documentation to understand 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.
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 real estate investor's behalf. The monthly statement is also available online. The statement will show what reserves we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never pads the price on 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 rental 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 info regarding property management 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 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 breakdown of fees associated with property management services in Northern Virginia
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Vetting
How Nesbitt Realty vets 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 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.
Do you want know more about our local real estate market?
Nesbitt Realty's Guide to Real Estate is a handy resource for everyone who wants to investigate real estate facts about Northern Virginia and neighboring areas. The Guide to Real Estate compiles facts about what has sold and what is for sale, and a couple of shocking facts that you may not be aware of. In addition, our Guide has quite a few of the elements of living in Northern Virginia. Definitely, most of this is useful for buyers and sellers, but rental investors and renters might also find this data to be very informative.