We are very careful with fiduciary details.
As rental managers it is our duty to account for every penny of income and each expense. All of us work relentlessly to make sure that each real estate investor has the documentation to see exactly where is money is going to and coming from. To accomplish this duty we work with 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 rental income as well as any bills that we have paid on the property owner's behalf. The monthly statement is also available electronically. The statement will describe what monies 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 marks up the repairs, nor do we charge a fee per repair. At the end of the year, we organize the monthly statements into a year-end report. In January we mail the rental investors, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Oakton Property Management Resources
Basics
Basic information about what rental managment in Oakton.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a great renter in Oakton fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
Cost
A list of fees associated with property management services in Oakton
Vetting
How Nesbitt Realty vets tenants for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental 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.
Do you need know more about our local real estate market?
Our Guide to Real Estate is a handy tool for everyone who hopes to learn more about Oakton and nearby communities. The Guide to Real Estate includes facts regarding what has sold and what is currently listed, as well as some interesting facts that you may not know. Furthermore, our Guide spotlights quite a few of the assets of life in Oakton. Yes, most of this is useful for purchasers and sellers, but owners and renters should also find these tools to be quite eye-opening.