How We Account For Rents and Expenditures For Our Landlord Clients

We are especially meticulous with accounting matters.

As property managers it is our solemn charge to reconcile every penny of income and each expense. Our team work diligently to ensure that each rental investor has the opportunity to know 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 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 expenses which we have paid on the real estate investor's behalf. The monthly statement is also available online. The monthly statement will show what reserves 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. At the end of the year, we compile 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. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.

 

rent manager
Nesbitt Realty uses Rent Manager

Rockingham County Property Management Resources

Basics

Elementary info regarding management services in Rockingham County.

Learn More

Getting Started

Learn more about getting started with rental property management

Learn More

Find A Tenant

List your property to rent to find a reliable tenant in Rockingham County fast.

Learn More

Accounting

How does Nesbitt Realty keep track of income and expenses for landlords?

Learn More

Cost

A breakdown of fees associated with property management services in Rockingham County

Learn More

Vetting

How Nesbitt Realty vets renters for our clients.

Learn More

Reserves

What is a contingency reserve account?

Learn More

Territory

Where does Nesbitt Realty manage rental investments?

Learn More

Clients

Who uses Nesbitt Realty management services?

Learn More

Contact

Call (703)765-0300 to speak to a property management specialist now.

Email

If you have tenants, you have problems.

Nesbitt Realty handles those problems.

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 free resource for anyone who hopes to find out more about Rockingham County and nearby areas.  The Guide to Real Estate compiles information about what has sold and what is for sale, and a few interesting facts that you might not be aware of.  Not to mention, our Guide spotlights quite a few of the aspects of living in Rockingham County.  Of course, all of this is useful for buyers and sellers, but landlords and renters may also find this data to be very eye-opening.

Serving Rockingham County

Do you need a rental property manager?

Learn more about our rental management services. We service landlords in Virginia.