We are especially meticulous with accounting issues.
As rental managers it is our duty to account for every cent of income and each expense. Our team work hard to ensure that every property owner has the documentation to see exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful software tools in our profession: Rent Manager.
We strive 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 shows the rental income as well as any bills which we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly statement will show what reserves we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. In addition, 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 send to the real estate investors, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Fairfax County Property Management Resources
Basics
Basic info regarding management services in Fairfax County.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a reliable renter in Fairfax County fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A list of prices of property management services in Fairfax County
Vetting
How Nesbitt Realty vets renters for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental investments?
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 understand more about the local real estate market?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who hopes to find out more about Fairfax County and surrounding communities. The Guide to Real Estate provides facts about what has sold and what is currently listed, and a few compelling facts that you may not be aware of. And, our Guide spotlights some assets of residing in Fairfax County. Yes, all of this is interesting for buyers and sellers, but rental investors and tenants should also find this data to be very enlightening.