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

We are extremely attentive with financial matters.

As rental managers it is our solemn charge to account for every cent of rent and each expense. Our team work relentlessly to ensure that each real estate investor has the tools and paperwork to see exactly where is income is going to and coming from. To accomplish this duty we use 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 states 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 online. The statement will describe what reserves 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.

 

rent manager
Nesbitt Realty uses Rent Manager

Northern Virginia Rental Management Resources

Basics

Elementary information regarding property management in Northern Virginia.

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Getting Started

Learn more about getting started with 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 landlords?

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Cost

A list of prices of rental management in Northern Virginia

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Vetting

How Nesbitt Realty vets tenants for landlords.

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Reserves

What is a contingency reserve account?

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Territory

Where does Nesbitt Realty manage property?

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Clients

Who uses Nesbitt Realty management services?

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Contact

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

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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 want understand more about our area?

Nesbitt Realty's Guide to Real Estate is a helpful tool for anyone who needs to investigate real estate facts about Northern Virginia and surrounding areas.  The Guide to Real Estate compiles data about what has sold and what is on the market, and a couple of shocking facts that you may not know.  And, our Guide features many of the fundamentals of living in Northern Virginia.  Of course, all of this is helpful for buyers and sellers, but landlords and tenants might also find these tools to be quite enlightening.

Serving Northern Virginia