We are extremely careful with financial issues.
As rental property managers it is our duty to keep close track on every cent of rent and each expense. Our staff work diligently to ensure that each rental property owner has the opportunity 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.
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 states the rental income as well as any expenses that we have paid on the landlord's behalf. The monthly statement is also available online. The monthly statement will show what monies we are holding on behalf of the landlord.
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. 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 rental. 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 info 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 dependable renter 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 list of prices of rental management services in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of renters for landlords.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage 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 need understand more about our area?
Our Guide to Real Estate is a free tool for everyone who wants to find out more about Northern Virginia and surrounding areas. The Guide to Real Estate compiles facts about what has sold and what is currently listed, as well as a couple of compelling facts that you might not be aware of. Furthermore, our Guide highlights quite a few of the assets of living in Northern Virginia. Of course, all of this is interesting for buyers and sellers, but real estate investors and renters will likely also find these tools to be somewhat informative.