How We Account For Rents and Expenditures For Our Rental Owning Clients

We are extremely precise about financial details.

As property managers it is our duty to keep close track on every penny of income and each expense. Our staff work relentlessly to ensure that every real estate investor has the documentation to understand exactly where is income is going to and coming from. To accomplish this task we use one of the most powerful programs in the management business: 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 states the rent received as well as any expenses which we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The statement will describe what monies we are holding on behalf of the landlord.

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 statement.  In January we mail the rental investors, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.

 

rent manager
Nesbitt Realty uses Rent Manager

Herndon Property Management Resources

Basics

Basic info about what rental managment in Herndon.

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Getting Started

Learn more about getting started with rental property management

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Find A Tenant

List your property to rent to find a great tenant in Herndon fast.

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Accounting

How does Nesbitt Realty keep track of income and expenses for landlords?

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Cost

A breakdown of prices of rental management services in Herndon

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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 property manager 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 need know more about the area?

Our Guide to Real Estate is a helpful resource for everyone who hopes to review important real estate information about Herndon and nearby communities.  The Guide to Real Estate provides data regarding what has sold and what is on the market, and a couple of shocking facts that you might not know.  And, our Guide spotlights some benefits of life in Herndon.  Of course, all of this is useful for purchasers and sellers, but property owners and renters will also find this information to be very enlightening.

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