We are especially attentive with accounting matters.
As rental property managers it is our duty to account for every penny of income and each expense. Our team work relentlessly to make sure that every landlord has the tools and paperwork to understand 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. 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 bills which we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly report will describe what reserves we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. And, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we organize the monthly reports into a year-end report. In January we send to the landlords, 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 Rental Management Resources
Basics
Elementary info regarding management services in Northern Virginia.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a dependable renter in Northern Virginia fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
An overview of fees associated with property management services in Northern Virginia
Vetting
How Nesbitt Realty vets tenants for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental property?
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 needs to investigate real estate facts about Northern Virginia and nearby areas. The Guide to Real Estate has data regarding what has sold and what is on the market, as well as a few shocking facts that you may not be aware of. Furthermore, our Guide spotlights many of the aspects of living in Northern Virginia. Yes, all of this is interesting for buyers and sellers, but landlords and tenants will also find this data to be somewhat eye-opening.