We are especially precise about accounting matters.
As property managers it is our duty to reconcile every cent of rent and each expense. Our staff work hard to make sure that every landlord has the opportunity to understand exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful software tools in the management business: Rent Manager.
We always try 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 states the rental income as well as any expenses that we have paid on the real estate investor's behalf. The monthly statement is also available electronically. The monthly statement will describe what monies we are holding on behalf of the property owner.
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 reports into a year-end report. In January we mail 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.
Fairlington_Meadows Rental Management Resources
Basics
Elementary information regarding property management in Fairlington_Meadows.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a reliable tenant in Fairlington_Meadows fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A list of prices of rental management in Fairlington_Meadows
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 know more about the community?
Our Guide to Real Estate is a helpful resource for anyone who wants to investigate real estate facts about Fairlington_Meadows and neighboring areas. The Guide to Real Estate provides data regarding what has sold and what is for sale, and a couple of interesting facts that you may not know. And, our Guide spotlights quite a few of the fundamentals of residing in Fairlington_Meadows. Naturally, most of this is useful for purchasers and sellers, but owners and renters will likely also find these resources to be very useful.