We are especially attentive with fiduciary issues.
As property managers it is our solemn charge to account for every penny of rent and each expense. Our staff work relentlessly to make sure that every rental investor has the opportunity to know exactly where is money is going to and coming from. To accomplish this duty we employ 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. Funds 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 that we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The monthly report will show what monies 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 marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end statement. In January we mail the 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 Property Management Resources
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Basics
Elementary information about what rental managment 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 reliable tenant 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 rental management services in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of renters 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 this area?
Our Guide to Real Estate is a helpful resource for anyone who wants to review important real estate information about Northern Virginia and surrounding communities. The Guide to Real Estate provides data about what has sold and what is for sale, as well as a few surprising facts that you might not be aware of. In addition, our Guide features many of the aspects of residing in Northern Virginia. Of course, all of this is useful for purchasers and sellers, but landlords and renters might also find these resources to be somewhat informative.