We are especially careful with fiduciary matters.
As rental managers it is our solemn charge to reconcile every cent of income and each expense. Our staff work diligently to make sure that each landlord has the opportunity to know exactly where is money 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 rental income as well as any expenses which we have paid on the real estate investor's behalf. The monthly statement is also available electronically. The statement will show what monies we are holding on behalf of the property owner.
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. Annually, we compile the monthly reports into a year-end statement. In January we send to the property owners, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Northern Virginia Property Management Resources
Basics
Basic information regarding property management in Northern Virginia.
Getting Started
Learn more about getting started with property management
Find A Tenant
List 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 property owners?
Cost
A list of fees associated with rental management in Northern Virginia
Vetting
How Nesbitt Realty checks the backgrounds of renters for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental 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.
Should you understand more about this community?
Our Guide to Real Estate is a handy resource for everyone who wants to learn more about Northern Virginia and neighboring communities. The Guide to Real Estate provides data about what has sold and what is currently listed, and many shocking facts that you may not know. Furthermore, our Guide has quite a few of the benefits of residing in Northern Virginia. Of course, all of this is useful for purchasers and sellers, but owners and tenants will also find this data to be somewhat informative.