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

We are extremely serious about fiduciary issues.

As property managers it is our solemn charge to reconcile every penny of income and each expense. All of us work relentlessly to ensure that every rental property owner has the opportunity to understand exactly where is money is going to and coming from. To accomplish this duty we employ one of the most powerful programs in our profession: 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 shows the rent received as well as any expenses which we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly statement will show what reserves we are holding on behalf of the property owner.

There is no additional charge for the reports or the accounting. Also, 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 send to the rental property owners, 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

Manassas Rental Management Resources

Basics

Basic info regarding property management in Manassas.

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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 reliable tenant in Manassas 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 prices of property management services in Manassas

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Vetting

How Nesbitt Realty checks the backgrounds of renters for landlords.

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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 understand more about the community?

Nesbitt Realty's Guide to Real Estate is a handy resource for anyone who hopes to investigate real estate facts about Manassas and neighboring communities.  The Guide to Real Estate includes information about what has sold and what is currently listed, as well as some shocking facts that you might not be aware of.  Also, our Guide has quite a few of the assets of life in Manassas.  Of course, most of this is helpful for buyers and sellers, but rental investors and tenants will likely also find these tools to be quite useful.

Serving Manassas

Do you need advice about rental property management?

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