We are extra meticulous with accounting issues.
As property managers it is our solemn charge to keep close track on every penny of income and each expense. Our staff work hard to make sure that each landlord has the opportunity to see exactly where is money is going to and coming from. To accomplish this task we employ one of the most powerful programs 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 rent received as well as any expenses which we have paid on the real estate investor's behalf. The monthly statement is also available electronically. The monthly report will describe what reserves we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. Furthermore, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end statement. In January we mail the rental property owners, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Northern Virginia Rental Management Resources
Basics
Basic information about what rental managment in Northern Virginia.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List 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
An overview of prices of property management services in Northern Virginia
Vetting
How Nesbitt Realty vets renters for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rentals?
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 want know more about this local real estate market?
Nesbitt Realty's Guide to Real Estate is a handy tool for anyone who wants to find out more about Northern Virginia and neighboring areas. The Guide to Real Estate includes data regarding what has sold and what is currently listed, as well as many interesting facts that you may not know. And, our Guide has some elements of life in Northern Virginia. Definitely, all of this is useful for purchasers and sellers, but real estate investors and renters should also find this information to be very eye-opening.