We are extra serious about financial issues.
As property managers it is our solemn charge to account for every cent of income and each expense. All of us work diligently to ensure that each rental investor has the tools and paperwork to understand exactly where is income is going to and coming from. To accomplish this duty we work with one of the most powerful software tools in the management business: Rent Manager.
We always try 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 rent received as well as any bills that we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly statement will describe what reserves we are holding on behalf of the 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 organize the monthly reports into a year-end report. In January we send to the landlords, 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_Heritage Property Management Resources
Basics
Basic info about what rental managment in Fairfax_Heritage.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a dependable tenant in Fairfax_Heritage fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A breakdown of prices of rental management services in Fairfax_Heritage
Vetting
How Nesbitt Realty checks the backgrounds of renters for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rentals?
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 this area?
Nesbitt Realty's Guide to Real Estate is a free resource for anyone who needs to find out more about Fairfax_Heritage and neighboring areas. The Guide to Real Estate has facts regarding what has sold and what is on the market, and a couple of shocking facts that you might not be aware of. Furthermore, our Guide highlights some elements of living in Fairfax_Heritage. Of course, all of this is helpful for buyers and sellers, but property owners and renters may also find the facts to be very useful.