How We Account For Rents and Expenditures For Our Management Clients

We are very attentive with financial matters.

As rental property managers it is our solemn charge to keep close track on every penny of rent and each expense. All of us work hard to make sure that each property owner has the documentation to know exactly where is income is going to and coming from. To accomplish this duty we employ one of the most powerful software tools 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 expenses that we have paid on the real estate investor's behalf. The monthly statement is also available electronically. The monthly report will show what reserves we are holding on behalf of the rental property owner.

There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never pads the price on 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 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.

 

rent manager
Nesbitt Realty uses Rent Manager

Ballston Rental Management Resources

Basics

Basic info about what rental managment in Ballston.

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Getting Started

Learn more about getting started with property management

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Find A Tenant

List your property to rent to find a great tenant in Ballston fast.

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Accounting

How does Nesbitt Realty keep track of income and expenses for real estate investors?

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Cost

An overview of prices of rental management services in Ballston

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Vetting

How Nesbitt Realty vets tenants for landlords.

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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 our area?

Nesbitt Realty's Guide to Real Estate is a free resource for anyone who wants to review important real estate information about Ballston and surrounding communities.  The Guide to Real Estate has data about what has sold and what is currently listed, and a few surprising facts that you may not be aware of.  And, our Guide highlights some elements of living in Ballston.  Naturally, all of this is interesting for buyers and sellers, but landlords and tenants will probably also find this data to be quite useful.

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