We are extra conscientious regarding accounting details.
As rental managers it is our duty to keep close track on every penny of rent and each expense. Our staff work hard to make sure that every rental investor has the tools and paperwork to see exactly where is money is going to and coming from. To accomplish this task we employ one of the most powerful programs in the management business: Rent Manager.
We always try 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 reserves we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we compile 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. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Falls Church Property Management Resources
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 know more about our community?
Our Guide to Real Estate is a helpful tool for everyone who wants to review important real estate information about Falls Church and neighboring areas. The Guide to Real Estate provides facts about what has sold and what is currently listed, and many interesting facts that you might not be aware of. Furthermore, our Guide spotlights many of the aspects of life in Falls Church. As might be expected, all of this is useful for purchasers and sellers, but landlords and renters might also find these tools to be very useful.