We are very serious about fiduciary matters.
As rental managers it is our solemn charge to reconcile every cent of rent and each expense. Our staff work diligently to ensure that every landlord has the opportunity to see exactly where is money is going to and coming from. To accomplish this duty we use one of the most powerful programs in our profession: 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 expenses which we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The monthly report will show what funds we are holding on behalf of the landlord.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we organize the monthly reports into a year-end report. In January we send to the rental property owners, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Prince William County 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.
Should you understand more about the community?
Nesbitt Realty's Guide to Real Estate is a helpful resource for anyone who wants to investigate real estate facts about Prince William County and neighboring communities. The Guide to Real Estate includes information about what has sold and what is on the market, and a couple of shocking facts that you may not be aware of. And, our Guide spotlights many of the assets of living in Prince William County. Definitely, all of this is interesting for buyers and sellers, but real estate investors and renters will probably also find these tools to be quite eye-opening.