We are especially meticulous with financial details.
As rental managers it is our solemn charge to keep close track on every penny of rent and each expense. Our staff work relentlessly to make sure that every real estate investor has the documentation 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 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 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 landlord.
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 statements into a year-end report. In January we mail the property owners, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Fairfax County 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 need understand more about our local real estate market?
Our Guide to Real Estate is a helpful tool for everyone who hopes to find out more about Fairfax County and neighboring areas. The Guide to Real Estate has information about what has sold and what is on the market, and many surprising facts that you might not be aware of. And, our Guide spotlights many of the fundamentals of life in Fairfax County. As might be expected, most of this is interesting for purchasers and sellers, but owners and tenants should also find the facts to be somewhat useful.