We are very conscientious regarding fiduciary matters.
As property managers it is our duty to keep close track on every cent of income and each expense. Our team work hard to make sure that each property owner has the opportunity to know exactly where is income is going to and coming from. To accomplish this duty we work with 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 shows the rental income as well as any expenses that we have paid on the landlord's behalf. The monthly statement is also available electronically. The statement will describe what reserves we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly reports 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 rental. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Midtown_alexandria_station Rental Management Resources
Basics
Elementary information about what property management in Midtown_alexandria_station.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a reliable renter in Midtown_alexandria_station fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A list of fees associated with property management services in Midtown_alexandria_station
Vetting
How Nesbitt Realty vets renters for property owners.
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.
Do you need understand more about the local real estate market?
Nesbitt Realty's Guide to Real Estate is a free tool for anyone who hopes to learn more about Midtown_alexandria_station and nearby areas. The Guide to Real Estate compiles data about what has sold and what is currently listed, as well as many surprising facts that you may not know. Also, our Guide spotlights many of the assets of life in Midtown_alexandria_station. As might be expected, all of this is helpful for purchasers and sellers, but property owners and renters might also find these tools to be somewhat eye-opening.