How We Account For Rents and Expenditures For Our Management Clients

We are especially precise about accounting matters.

As rental property managers it is our duty to keep close track on every penny of rent and each expense. Our team work diligently to ensure that every real estate investor has the opportunity to know exactly where is money is going to and coming from. To accomplish this duty we employ one of the most powerful programs in the management business: 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 states the rent received as well as any bills which we have paid on the landlord's behalf. The monthly statement is also available online. The statement will show what reserves we are holding on behalf of the real estate 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. At the end of the year, we organize the monthly statements into a year-end statement.  In January we send to the rental investors, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.

 

rent manager
Nesbitt Realty uses Rent Manager

Harrisonburg Property Management Resources

Basics

Elementary info regarding management services in Harrisonburg.

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Getting Started

Learn more about getting started with property management

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Find A Tenant

List your property to rent to find a reliable renter in Harrisonburg fast.

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Accounting

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

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Cost

An overview of fees associated with rental management services in Harrisonburg

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Vetting

How Nesbitt Realty vets 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 rental property?

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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.

Should you understand more about the community?

Our Guide to Real Estate is a helpful tool for everyone who wants to find out more about Harrisonburg and neighboring communities.  The Guide to Real Estate includes facts regarding what has sold and what is currently listed, and a couple of surprising facts that you might not know.  Furthermore, our Guide highlights quite a few of the fundamentals of life in Harrisonburg.  Of course, most of this is helpful for purchasers and sellers, but real estate investors and tenants might also find this data to be quite informative.

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Do you need advice about rental property management?

Talk to one of our experts about rental property in Virginia.