We are especially attentive with financial issues.
As property managers it is our duty to account for every penny of rent and each expense. Our team work diligently to ensure that each landlord has the tools and paperwork to know exactly where is income is going to and coming from. To accomplish this duty we use 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 rental income as well as any bills which we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly statement will describe what funds we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. Not to mention, 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 statement. In January we mail the real estate investors, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Northern Virginia Property Management Resources
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Basics
Basic info 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
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 real estate investors?
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Cost
An overview of prices of rental management services in Northern Virginia
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Vetting
How Nesbitt Realty vets 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 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 need understand more about our area?
Nesbitt Realty's Guide to Real Estate is a helpful tool for everyone who wants to learn more about Northern Virginia and surrounding areas. The Guide to Real Estate has data regarding what has sold and what is currently listed, as well as some surprising facts that you might not know. Not to mention, our Guide has many of the benefits of living in Northern Virginia. Yes, all of this is interesting for buyers and sellers, but owners and tenants may also find these tools to be somewhat useful.