We are very attentive with fiduciary issues.
As rental property managers it is our duty to account for every penny of income and each expense. Our team work hard to ensure that every rental investor has the opportunity to understand exactly where is money is going to and coming from. To accomplish this duty we employ one of the most powerful software tools in our profession: Rent Manager.
We usually process and deposit rents on the same day they are received. Rents 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 expenses which 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. Also, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we organize the monthly reports into a year-end statement. In January we mail the property owners, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
McLean Rental Management Resources
Basics
Basic information regarding rental managment in McLean.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a great tenant in McLean fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A breakdown of prices of rental management services in McLean
Vetting
How Nesbitt Realty vets renters for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage property?
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.
Should you understand more about this community?
Nesbitt Realty's Guide to Real Estate is a free tool for anyone who needs to learn more about McLean and neighboring areas. The Guide to Real Estate has information about what has sold and what is currently listed, and a couple of compelling facts that you may not know. And, our Guide has some fundamentals of residing in McLean. Of course, most of this is useful for buyers and sellers, but landlords and tenants might also find these resources to be very enlightening.