We are extremely careful with money details.
As property managers it is our duty to keep close track on every cent of rent and each expense. All of us work hard to make sure that every rental investor has the tools and paperwork to understand exactly where is income is going to and coming from. To accomplish this task we employ one of the most powerful programs in the management business: Rent Manager.
We usually 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 bills that we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The statement will show what monies we are holding on behalf of the real estate 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. At the end of the year, we organize the monthly statements into a year-end statement. In January we send to the rental investors, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Potowmack_Crossing Property Management Resources
Basics
Fundamental information about what property management in Potowmack_Crossing.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a great tenant in Potowmack_Crossing fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
An overview of fees associated with rental management in Potowmack_Crossing
Vetting
How Nesbitt Realty vets renters for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage property?
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 the local real estate market?
Nesbitt Realty's Guide to Real Estate is a handy resource for anyone who needs to learn more about Potowmack_Crossing and neighboring areas. The Guide to Real Estate includes information about what has sold and what is currently listed, and a few surprising facts that you may not be aware of. Furthermore, our Guide features quite a few of the fundamentals of residing in Potowmack_Crossing. Certainly, all of this is useful for buyers and sellers, but landlords and renters will likely also find this data to be quite sobering.