We are especially conscientious regarding fiduciary matters.
As property managers it is our solemn charge to keep close track on every cent of rent and each expense. All of us work relentlessly to ensure that each rental investor has the tools and paperwork to see exactly where is money is going to and coming from. To accomplish this task we employ one of the most powerful software tools in our profession: 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 rent received as well as any expenses that we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The monthly report 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. Not to mention, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly statements into a year-end statement. In January we mail the landlords, 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.
Northern Virginia Rental Management Resources
Basics
Fundamental info about what property management in Northern Virginia.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market 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 real estate investors?
Cost
A breakdown of fees associated with property management services 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 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.
Should you understand more about our community?
Our Guide to Real Estate is a helpful tool for everyone who wants to investigate real estate facts about Northern Virginia and neighboring areas. The Guide to Real Estate includes information about what has sold and what is for sale, and a few compelling facts that you may not know. Not to mention, our Guide features some benefits of residing in Northern Virginia. Of course, all of this is useful for purchasers and sellers, but property owners and tenants will likely also find this data to be very sobering.