We are extra attentive with fiduciary issues.
As rental managers it is our duty to keep close track on every penny of rent and each expense. Our team work relentlessly to ensure that every rental property owner has the tools and paperwork to understand exactly where is income is going to and coming from. To accomplish this duty we employ 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. 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 expenses that we have paid on the rental investor's behalf. The monthly statement is also available electronically. The monthly statement will describe what funds we are holding on behalf of the rental 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 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 information about what rental managment 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
An overview of prices of property management services in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of 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 rental 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 this area?
Our Guide to Real Estate is a handy resource for anyone who wants to investigate real estate facts about Northern Virginia and neighboring communities. The Guide to Real Estate has facts regarding what has sold and what is currently listed, and a few compelling facts that you might not be aware of. Also, our Guide has many of the benefits of living in Northern Virginia. Of course, most of this is useful for purchasers and sellers, but rental investors and tenants might also find these resources to be quite edifying.