We are especially careful with financial matters.
As rental property managers it is our solemn charge to account for every penny of rent and each expense. Our staff work hard to ensure that each rental investor has the opportunity to see exactly where is income is going to and coming from. To accomplish this duty we use 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. 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 expenses which we have paid on the landlord's behalf. The monthly statement is also available electronically. The monthly report will describe what funds we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. At the end of the year, we compile the monthly reports 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 give the 1099 to your tax preparer.
Manassas Park 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?
Our Guide to Real Estate is a free resource for anyone who needs to review important real estate information about Manassas Park and neighboring communities. The Guide to Real Estate compiles information about what has sold and what is currently listed, and a couple of surprising facts that you may not be aware of. And, our Guide highlights many of the elements of life in Manassas Park. Of course, all of this is useful for purchasers and sellers, but rental investors and tenants will probably also find this information to be very informative.