We are especially meticulous with financial issues.
As rental managers it is our solemn charge to keep close track on every penny of income and each expense. Our staff work relentlessly to ensure that every landlord has the documentation to understand exactly where is money is going to and coming from. To accomplish this task we use one of the most powerful programs in our profession: Rent Manager.
It is our practice to 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 which we have paid on the property owner's behalf. The monthly statement is also available online. The monthly statement will describe what funds we are holding on behalf of the rental investor.
There is no additional charge for the reports or the accounting. Also, 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 statement. In January we mail the real estate investors, 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.
Falls Church Rental 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.
Do you need understand more about this community?
Nesbitt Realty's Guide to Real Estate is a handy resource for anyone who wants to learn more about Falls Church and neighboring areas. The Guide to Real Estate compiles facts about what has sold and what is for sale, as well as a couple of compelling facts that you might not be aware of. Furthermore, our Guide features some assets of life in Falls Church. Naturally, most of this is interesting for buyers and sellers, but landlords and tenants might also find this information to be somewhat edifying.