We are extra precise about money details.
As property managers it is our solemn charge to account for every cent of income and each expense. Our team work diligently to make sure that every landlord has the opportunity to see exactly where is income 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.
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 shows the rental income as well as any bills which we have paid on the rental investor's behalf. The monthly statement is also available online. The statement will show what funds we are holding on behalf of the real estate investor.
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 organize the monthly statements into a year-end report. 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.
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 know more about this community?
Nesbitt Realty's Guide to Real Estate is a handy tool for everyone who needs to investigate real estate facts about Fairfax and nearby communities. The Guide to Real Estate has data about what has sold and what is for sale, and some compelling facts that you may not be aware of. Furthermore, our Guide highlights quite a few of the elements of residing in Fairfax. Certainly, most of this is useful for purchasers and sellers, but real estate investors and renters will also find these tools to be somewhat edifying.