We are very conscientious regarding financial matters.
As property managers it is our solemn charge to keep close track on every penny of income and each expense. All of us work relentlessly to ensure that each landlord has the opportunity to know exactly where is money is going to and coming from. To accomplish this duty we use 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 rent received as well as any expenses that we have paid on the rental investor's behalf. The monthly statement is also available online. The statement will show what reserves we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. And, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly reports into a year-end statement. In January we send to 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
Elementary information regarding property management 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 real estate investors?
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Cost
A list of prices of property management services in Northern Virginia
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Vetting
How Nesbitt Realty vets tenants 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 want understand more about the community?
Our Guide to Real Estate is a helpful resource for everyone who hopes to find out more about Northern Virginia and neighboring areas. The Guide to Real Estate includes facts about what has sold and what is on the market, and a couple of surprising facts that you may not be aware of. Also, our Guide features quite a few of the aspects of life in Northern Virginia. Definitely, most of this is useful for buyers and sellers, but owners and renters may also find this data to be quite informative.