We are very careful with accounting issues.
As rental managers it is our duty to reconcile every cent of rent and each expense. Our team work diligently to make sure that each rental investor has the documentation to see exactly where is money is going to and coming from. To accomplish this task we work with 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. Rents are deposited into an escrow account (not into our operating account). We prepare a monthly statement that shows the rent received as well as any bills that we have paid on the rental investor's behalf. The monthly statement is also available online. The statement will show what reserves we are holding on behalf of the rental investor.
There is no additional charge for the reports or the accounting. Also, 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 property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Fairlington Property Management Resources
Basics
Elementary info regarding rental managment in Fairlington.
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 fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
An overview of prices of property management services in Fairlington
Vetting
How Nesbitt Realty vets tenants for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental 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 want know more about our local real estate market?
Our Guide to Real Estate is a free tool for anyone who wants to review important real estate information about Fairlington and surrounding areas. The Guide to Real Estate compiles information regarding what has sold and what is currently listed, and many surprising facts that you may not know. Not to mention, our Guide highlights quite a few of the aspects of living in Fairlington. Of course, most of this is useful for purchasers and sellers, but landlords and tenants will likely also find this data to be very sobering.