How We Account For Rents and Expenditures For Our Management Clients

We are very careful with money issues.

As rental property managers it is our duty to reconcile every penny of income and each expense. All of us work relentlessly to ensure that every property owner 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 software tools in the management business: Rent Manager.

It is our practice 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 that we have paid on the real estate investor's behalf. The monthly statement is also available online. The monthly statement will show what monies 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. 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 property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.

 

rent manager
Nesbitt Realty uses Rent Manager

Prince William County Rental Management Resources

Basics

Elementary info regarding property management in Prince William County.

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Getting Started

Learn more about getting started with rental property management

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Find A Tenant

List your property to rent to find a dependable tenant in Prince William County fast.

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Accounting

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

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Cost

An overview of prices of rental management services in Prince William County

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Vetting

How Nesbitt Realty checks the backgrounds of 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 this area?

Our Guide to Real Estate is a helpful tool for anyone who wants to investigate real estate facts about Prince William County and neighboring communities.  The Guide to Real Estate includes data about what has sold and what is on the market, and a couple of compelling facts that you might not be aware of.  And, our Guide highlights some benefits of residing in Prince William County.  Definitely, most of this is helpful for purchasers and sellers, but property owners and renters will also find these tools to be quite informative.

Serving Prince William County