We are very careful with financial matters.
As property managers it is our solemn charge to account for every penny of rent and each expense. All of us work hard to ensure that each 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 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 states the rent received as well as any expenses which we have paid on the landlord's behalf. The monthly statement is also available online. The monthly statement will describe what reserves we are holding on behalf of the real estate investor.
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. Annually, we compile the monthly statements into a year-end report. In January we mail 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.
Reston Property Management Resources
Basics
Basic information regarding rental managment in Reston.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a reliable renter in Reston 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 Reston
Vetting
How Nesbitt Realty checks the backgrounds of 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 helpful tool for anyone who hopes to find out more about Reston and surrounding areas. The Guide to Real Estate compiles information about what has sold and what is currently listed, as well as many shocking facts that you might not be aware of. Not to mention, our Guide highlights quite a few of the aspects of living in Reston. Yes, most of this is useful for buyers and sellers, but owners and tenants will also find the facts to be somewhat edifying.