We are extremely attentive with fiduciary details.
As rental property managers it is our duty to account for every penny of rent and each expense. All of us work diligently to ensure that each landlord has the tools and paperwork to know exactly where is income is going to and coming from. To accomplish this task we work with one of the most powerful programs in the management business: 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 rent received as well as any bills which we have paid on the real estate investor's behalf. The monthly statement is also available online. The monthly statement will show what funds we are holding on behalf of the property owner.
There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly reports into a year-end statement. In January we send to the rental property owners, and to the IRS, a 1099 stating the income for the property. 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 property management in Northern Virginia.
-
Getting Started
Learn more about getting started with property management
-
Find A Tenant
Market your property to rent to find a great tenant in Northern Virginia fast.
-
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
-
Cost
A list of fees associated with rental management services in Northern Virginia
-
Vetting
How Nesbitt Realty checks the backgrounds of tenants for landlords.
-
Reserves
What is a contingency reserve account?
-
Territory
Where does Nesbitt Realty manage rental investments?
-
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.
Should you understand more about this local real estate market?
Our Guide to Real Estate is a free resource for everyone who hopes to investigate real estate facts about Northern Virginia and surrounding areas. The Guide to Real Estate compiles facts about what has sold and what is on the market, as well as a few interesting facts that you may not know. Also, our Guide highlights many of the benefits of residing in Northern Virginia. Of course, most of this is helpful for buyers and sellers, but rental investors and tenants will likely also find this data to be somewhat sobering.