How We Account For Rents and Expenditures For Our Management Clients

We are extra careful with fiduciary matters.

As rental managers it is our duty to reconcile every penny of income and each expense. All of us work hard to make sure that every property owner has the tools and paperwork to know exactly where is money is going to and coming from. To accomplish this duty we employ one of the most powerful programs in the management business: Rent Manager.

It is our practice to 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 bills which we have paid on the real estate investor's behalf. The monthly statement is also available online. The statement will show what reserves we are holding on behalf of the 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 report.  In January we send to the real estate investors, 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 County Property Management Resources

Basics

Elementary info about what management services in Fairfax County.

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Getting Started

Learn more about getting started with property management

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Find A Tenant

Market your property to rent to find a great renter in Fairfax County fast.

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Accounting

How does Nesbitt Realty keep track of income and expenses for real estate investors?

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Cost

An overview of prices of rental management in Fairfax County

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Vetting

How Nesbitt Realty vets tenants for our clients.

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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 rental specialist 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 local real estate market?

Our Guide to Real Estate is a handy resource for anyone who needs to review important real estate information about Fairfax County and neighboring communities.  The Guide to Real Estate compiles facts about what has sold and what is for sale, and many shocking facts that you might not be aware of.  Not to mention, our Guide features quite a few of the elements of residing in Fairfax County.  Of course, all of this is useful for buyers and sellers, but landlords and tenants might also find these tools to be quite eye-opening.

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