How We Account For Rents and Expenditures For Our Landlord Clients

We are especially serious about fiduciary details.

As rental managers it is our solemn charge to keep close track on every cent of income and each expense. Our team work relentlessly to ensure that each property owner has the documentation to see exactly where is income is going to and coming from. To accomplish this duty we use 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 rent received as well as any expenses which we have paid on the property owner's behalf. The monthly statement is also available electronically. The 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. Not to mention, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we organize the monthly reports into a year-end statement.  In January we mail the rental 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.

 

rent manager
Nesbitt Realty uses Rent Manager

Fairfax Property Management Resources

Basics

Basic information about what management services in Fairfax.

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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 dependable tenant in Fairfax fast.

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Accounting

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

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Cost

A breakdown of prices of property management services in Fairfax

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Vetting

How Nesbitt Realty vets renters for landlords.

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Reserves

What is a contingency reserve account?

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Territory

Where does Nesbitt Realty manage property?

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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 manager 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.

Do you want know more about this area?

Nesbitt Realty's Guide to Real Estate is a handy tool for everyone who hopes to learn more about Fairfax and surrounding communities.  The Guide to Real Estate includes data about what has sold and what is for sale, and a few compelling facts that you might not know.  In addition, our Guide has quite a few of the fundamentals of residing in Fairfax.  Of course, most of this is helpful for buyers and sellers, but landlords and tenants may also find this information to be somewhat eye-opening.

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