How We Account For Rents and Expenditures For Our Rental Owning Clients

We are especially attentive with accounting matters.

As rental property managers it is our duty to account for every penny of income and each expense. All of us work relentlessly to ensure that each property owner has the documentation to understand exactly where is income is going to and coming from. To accomplish this duty we use one of the most powerful programs in the management business: 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 statement 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. 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 statement.  In January we send to 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.

 

rent manager
Nesbitt Realty uses Rent Manager

Falls Church Property Management Resources

Basics

Elementary info regarding property management in Falls Church.

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Getting Started

Learn more about getting started with rental property management

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Find A Tenant

Market your property to rent to find a dependable tenant in Falls Church fast.

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Accounting

How does Nesbitt Realty keep track of income and expenses for landlords?

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Cost

A breakdown of fees associated with property management services in Falls Church

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Vetting

How Nesbitt Realty checks the backgrounds of tenants for our clients.

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Reserves

What is a contingency reserve account?

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Territory

Where does Nesbitt Realty manage rentals?

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Clients

Who uses Nesbitt Realty management services?

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Contact

Call (703)765-0300 to speak to a rental specialist now.

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If you have tenants, you have problems.

Nesbitt Realty handles those problems.

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 anyone who needs to find out more about Falls Church and surrounding areas.  The Guide to Real Estate provides data regarding what has sold and what is for sale, as well as a few interesting facts that you might not be aware of.  Furthermore, our Guide has many of the fundamentals of residing in Falls Church.  Definitely, all of this is interesting for purchasers and sellers, but property owners and tenants will likely also find this information to be quite edifying.

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