We are extra careful with fiduciary details.
As rental property managers it is our solemn charge to reconcile every cent of rent and each expense. Our staff work relentlessly to ensure that every rental property owner has the documentation to understand exactly where is income is going to and coming from. To accomplish this duty we work with one of the most powerful software tools in the management business: Rent Manager.
It is our practice 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 rent received as well as any bills which we have paid on the landlord's behalf. The monthly statement is also available electronically. The statement will describe what monies we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. Also, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. Annually, we compile the monthly reports into a year-end statement. In January we mail the real estate investors, 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.
Fairfax Property Management Resources
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 understand more about our area?
Our Guide to Real Estate is a handy resource for everyone who hopes to learn more about Fairfax and surrounding areas. The Guide to Real Estate has information regarding what has sold and what is on the market, and a few compelling facts that you might not be aware of. Not to mention, our Guide highlights quite a few of the aspects of living in Fairfax. As might be expected, all of this is interesting for buyers and sellers, but owners and renters might also find this data to be very edifying.