We are especially serious about accounting matters.
As property managers it is our duty to account for every cent of rent and each expense. Our staff work relentlessly to ensure that each landlord has the documentation to know exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful programs in our profession: Rent Manager.
We usually process and deposit rents on the same day they are received. Funds 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 bills which we have paid on the rental investor's behalf. The monthly statement is also available online. The monthly statement will describe what monies we are holding on behalf of the rental 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 compile the monthly statements 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 property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Alexandria Property Management Resources
Basics
Fundamental info regarding property management in Alexandria.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a dependable tenant in Alexandria fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
An overview of fees associated with rental management services in Alexandria
Vetting
How Nesbitt Realty vets renters for landlords.
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?
Nesbitt Realty's Guide to Real Estate is a handy tool for everyone who needs to learn more about Alexandria and neighboring communities. The Guide to Real Estate has data regarding what has sold and what is on the market, as well as many surprising facts that you might not know. Also, our Guide has some aspects of living in Alexandria. Definitely, most of this is helpful for buyers and sellers, but property owners and tenants should also find these resources to be quite eye-opening.