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

We are very precise about accounting issues.

As rental property managers it is our solemn charge to keep close track on every cent of income and each expense. All of us work relentlessly to ensure that every landlord has the documentation to understand exactly where is income is going to and coming from. To accomplish this duty we employ one of the most powerful software tools 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 rent received 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 monies we are holding on behalf of the rental investor.

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. Annually, we organize the monthly statements into a year-end statement.  In January we mail the property owners, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.

 

rent manager
Nesbitt Realty uses Rent Manager

Rileyville Rental Management Resources

Basics

Elementary info about what property management in Rileyville.

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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 great tenant in Rileyville fast.

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Accounting

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

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Cost

A list of fees associated with rental management services in Rileyville

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Vetting

How Nesbitt Realty vets renters for our clients.

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Reserves

What is a contingency reserve account?

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Territory

Where does Nesbitt Realty manage 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 property management 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 local real estate market?

Our Guide to Real Estate is a helpful tool for everyone who hopes to learn more about Rileyville and neighboring areas.  The Guide to Real Estate has information regarding what has sold and what is for sale, and a few shocking facts that you might not know.  And, our Guide has many of the elements of living in Rileyville.  As might be expected, most of this is useful for purchasers and sellers, but real estate investors and renters will probably also find these resources to be quite edifying.

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