We are extra serious about fiduciary matters.
As rental property managers it is our solemn charge to account for every cent of rent and each expense. All of us work relentlessly to make sure that each real estate investor has the opportunity to understand exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful programs 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 statement will show what monies we are holding on behalf of the landlord.
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 statements into a year-end report. In January we send to the landlords, 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 Property Management Resources
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Basics
Basic information about what property management 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
List your property to rent to find a great 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 fees associated with rental 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 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.
Should you know more about the local real estate market?
Our Guide to Real Estate is a helpful tool for anyone who hopes to investigate real estate facts about Northern Virginia and nearby communities. The Guide to Real Estate compiles data about what has sold and what is on the market, as well as many interesting facts that you might not be aware of. Also, our Guide highlights many of the elements of residing in Northern Virginia. Of course, most of this is interesting for buyers and sellers, but real estate investors and tenants may also find this information to be quite sobering.