How We Account For Rents and Expenditures For Our Rental Owning Clients

We are extra conscientious regarding fiduciary matters.

As property managers it is our duty to account for every penny of income and each expense. All of us work relentlessly to make sure that each rental property owner has the documentation to see exactly where is income is going to and coming from. To accomplish this task we employ one of the most powerful programs in our profession: 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 which we have paid on the rental investor's behalf. The monthly statement is also available online. The monthly report will describe what funds we are holding on behalf of the property owner.

There is no additional charge for the reports or the accounting. Not to mention, 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 statements into a year-end report.  In January we mail the rental investors, 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.

 

rent manager
Nesbitt Realty uses Rent Manager

Arlington Property Management Resources

Basics

Basic info about what property management in Arlington.

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Getting Started

Learn more about getting started with rental property management

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Find A Tenant

Market your property to rent to find a reliable tenant in Arlington fast.

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Accounting

How does Nesbitt Realty keep track of income and expenses for landlords?

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Cost

An overview of prices of property management services in Arlington

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Vetting

How Nesbitt Realty vets tenants for property owners.

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Reserves

What is a contingency reserve account?

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Territory

Where does Nesbitt Realty manage rentals?

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Clients

Who uses Nesbitt Realty management services?

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Contact

Call (703)765-0300 to speak to a property management specialist now.

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If you have tenants, you have problems.

Nesbitt Realty handles those problems.

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 community?

Our Guide to Real Estate is a free resource for anyone who needs to learn more about Arlington and neighboring communities.  The Guide to Real Estate includes data about what has sold and what is on the market, as well as a couple of interesting facts that you may not be aware of.  Furthermore, our Guide spotlights some assets of living in Arlington.  Of course, all of this is interesting for buyers and sellers, but rental investors and tenants will likely also find this information to be quite informative.

Serving Arlington

Do you need a rental property manager?

Learn more about our rental management services. We service landlords in Virginia.