How We Account For Rents and Expenditures For Our Rental Owning Clients

We are very careful with fiduciary issues.

As rental property managers it is our duty to account for every cent of income and each expense. Our staff work relentlessly to make sure that each rental property owner has the tools and paperwork to understand exactly where is money 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 strive 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 states the rental income as well as any expenses which we have paid on the rental property owner'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. Furthermore, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we organize 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 rental property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.

 

rent manager
Nesbitt Realty uses Rent Manager

Northern Virginia Property Management Resources

Basics

Basic info about what rental managment in Northern Virginia.

Learn More

Getting Started

Learn more about getting started with rental property management

Learn More

Find A Tenant

List your property to rent to find a great tenant in Northern Virginia fast.

Learn More

Accounting

How does Nesbitt Realty keep track of income and expenses for landlords?

Learn More

Cost

An overview of fees associated with property management services in Northern Virginia

Learn More

Vetting

How Nesbitt Realty vets tenants for landlords.

Learn More

Reserves

What is a contingency reserve account?

Learn More

Territory

Where does Nesbitt Realty manage rental property?

Learn More

Clients

Who uses Nesbitt Realty management services?

Learn More

Contact

Call (703)765-0300 to speak to a property management specialist now.

Email

If you have tenants, you have problems.

Nesbitt Realty handles those problems.

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 know more about this community?

Nesbitt Realty's Guide to Real Estate is a handy resource for everyone who hopes to investigate real estate facts about Northern Virginia and neighboring communities.  The Guide to Real Estate provides facts about what has sold and what is on the market, and a couple of compelling facts that you might not know.  Furthermore, our Guide highlights some benefits of living in Northern Virginia.  Certainly, all of this is helpful for buyers and sellers, but landlords and renters will likely also find the facts to be somewhat sobering.

Serving Northern Virginia