We are extra attentive with fiduciary matters.
As property managers it is our duty to reconcile every cent of income and each expense. Our team work hard to ensure that every real estate investor has the opportunity to know exactly where is money is going to and coming from. To accomplish this task we work with 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 that 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 rental property owner.
There is no additional charge for the reports or the accounting. Furthermore, Nesbitt Realty never pads the price on 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 rental property owners, 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 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 want understand more about the community?
Our Guide to Real Estate is a handy tool for everyone who hopes to find out more about Fairfax County and nearby areas. The Guide to Real Estate compiles facts about what has sold and what is currently listed, as well as many shocking facts that you might not know. Furthermore, our Guide spotlights some fundamentals of living in Fairfax County. Naturally, all of this is interesting for purchasers and sellers, but rental investors and renters should also find these tools to be quite edifying.