We are especially careful with financial issues.
As rental property managers it is our solemn charge to reconcile every cent of income and each expense. Our staff work diligently to make sure that every rental investor has the opportunity to understand exactly where is income is going to and coming from. To accomplish this duty we use 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. 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 bills that we have paid on the rental investor's behalf. The monthly statement is also available online. The statement 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. Also, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we organize the monthly statements into a year-end report. In January we mail the rental investors, 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 Rental Management Resources
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Basics
Basic info about what management services 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 dependable tenant 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 breakdown of fees associated with 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 need know more about our local real estate market?
Our Guide to Real Estate is a free resource for anyone who needs to find out more about Northern Virginia and nearby communities. The Guide to Real Estate includes facts about what has sold and what is for sale, as well as a few shocking facts that you may not be aware of. Also, our Guide highlights some aspects of living in Northern Virginia. Of course, most of this is useful for buyers and sellers, but rental investors and renters will also find this information to be very enlightening.