We are very careful with accounting matters.
As property managers it is our solemn charge to keep close track on every penny of income and each expense. All of us work hard to make sure that every rental property owner has the tools and paperwork to see exactly where is money is going to and coming from. To accomplish this duty we employ one of the most powerful software tools in the management business: Rent Manager.
We strive 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 rental income as well as any bills which we have paid on the real estate investor's behalf. The monthly statement is also available online. The monthly report will describe what funds we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never marks up 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 report. In January we mail the rental investors, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Fairfax Rental Management Resources
Basics
Basic info about what rental managment in Fairfax.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a great renter in Fairfax fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A list of fees associated with rental management services in Fairfax
Vetting
How Nesbitt Realty checks the backgrounds of tenants for our clients.
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 need know more about the community?
Nesbitt Realty's Guide to Real Estate is a handy resource for anyone who hopes to review important real estate information about Fairfax and surrounding areas. The Guide to Real Estate includes data regarding what has sold and what is on the market, as well as many interesting facts that you might not be aware of. Furthermore, our Guide features quite a few of the aspects of residing in Fairfax. Certainly, most of this is helpful for purchasers and sellers, but landlords and tenants will probably also find these tools to be quite useful.