We are especially careful with fiduciary issues.
As rental property managers it is our duty to account for every penny of rent and each expense. Our staff work relentlessly to make sure that each landlord has the opportunity to know exactly where is money is going to and coming from. To accomplish this duty 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 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 monthly report will describe what funds we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we organize the monthly statements into a year-end statement. In January we mail the property owners, 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_Ridge Rental Management Resources
Basics
Basic information regarding property management in Fairfax_Ridge.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a dependable tenant in Fairfax_Ridge fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A list of prices of rental management in Fairfax_Ridge
Vetting
How Nesbitt Realty vets tenants for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental investments?
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 understand more about this local real estate market?
Nesbitt Realty's Guide to Real Estate is a free resource for everyone who needs to review important real estate information about Fairfax_Ridge and nearby communities. The Guide to Real Estate compiles data about what has sold and what is currently listed, as well as a couple of shocking facts that you might not know. And, our Guide highlights many of the fundamentals of living in Fairfax_Ridge. Naturally, all of this is interesting for buyers and sellers, but landlords and tenants may also find this information to be quite eye-opening.