We are especially careful with accounting matters.
As rental property managers it is our solemn charge to account for every cent of rent and each expense. Our staff work diligently to make sure that each property owner has the tools and paperwork to know exactly where is money is going to and coming from. To accomplish this task we employ one of the most powerful software tools 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 rental property owner's behalf. The monthly statement is also available online. The monthly report will show what reserves we are holding on behalf of the rental property owner.
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 organize the monthly statements into a year-end statement. In January we send to the landlords, 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.
Alexandria Property Management Resources
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 understand more about our community?
Our Guide to Real Estate is a handy tool for anyone who hopes to investigate real estate facts about Alexandria and surrounding communities. The Guide to Real Estate compiles data regarding what has sold and what is for sale, as well as a couple of surprising facts that you might not know. Not to mention, our Guide highlights quite a few of the fundamentals of living in Alexandria. Certainly, all of this is interesting for buyers and sellers, but rental investors and tenants will likely also find the facts to be very informative.