We are extremely conscientious regarding fiduciary matters.
As rental property managers it is our duty to reconcile every penny of rent and each expense. All of us work relentlessly to ensure that every property owner has the opportunity to see exactly where is income is going to and coming from. To accomplish this duty we employ one of the most powerful programs 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 rental income 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 monies we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we organize 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 rental. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Northern Virginia Property Management Resources
Basics
Fundamental info about what 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 dependable renter in Northern Virginia fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A list of prices of property management services in Northern Virginia
Vetting
How Nesbitt Realty checks the backgrounds of renters for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage 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 this community?
Our Guide to Real Estate is a helpful resource for everyone who hopes to review important real estate information about Northern Virginia and neighboring areas. The Guide to Real Estate provides information regarding what has sold and what is for sale, and many compelling facts that you may not be aware of. Furthermore, our Guide highlights some elements of life in Northern Virginia. Definitely, most of this is helpful for buyers and sellers, but property owners and renters will also find the facts to be quite eye-opening.