How We Account For Rents and Expenditures For Our Management Clients

We are extra careful with fiduciary matters.

As rental managers it is our duty to account for every cent of rent and each expense. Our staff work hard to ensure that each landlord has the tools and paperwork to understand exactly where is money is going to and coming from. To accomplish this duty we use one of the most powerful software tools in our profession: 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 shows the rent received as well as any expenses which we have paid on the rental investor's behalf. The monthly statement is also available online. The statement 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. And, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end report.  In January we send to the property owners, and to the IRS, a 1099 stating the income for the rental. 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 regarding property management in Northern Virginia.

Learn More

Getting Started

Learn more about getting started with property management

Learn More

Find A Tenant

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

Learn More

Accounting

How does Nesbitt Realty keep track of income and expenses for real estate investors?

Learn More

Cost

An overview of fees associated with rental management in Northern Virginia

Learn More

Vetting

How Nesbitt Realty vets tenants for our clients.

Learn More

Reserves

What is a contingency reserve account?

Learn More

Territory

Where does Nesbitt Realty manage rentals?

Learn More

Clients

Who uses Nesbitt Realty management services?

Learn More

Contact

Call (703)765-0300 to speak to a property manager 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 want know more about this area?

Nesbitt Realty's Guide to Real Estate is a helpful resource for everyone who needs to learn more about Northern Virginia and neighboring communities.  The Guide to Real Estate compiles facts about what has sold and what is currently listed, as well as many compelling facts that you might not know.  Furthermore, our Guide features many of the benefits of residing in Northern Virginia.  Yes, most of this is useful for purchasers and sellers, but property owners and renters might also find this information to be quite enlightening.

Serving Northern Virginia