We are especially serious about fiduciary details.
As property managers it is our duty to keep close track on every cent of rent and each expense. All of us work hard to make sure that every property owner has the documentation to understand exactly where is income is going to and coming from. To accomplish this task we work with one of the most powerful programs in the management business: Rent Manager.
We usually 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 bills that we have paid on the rental property owner's behalf. The monthly statement is also available electronically. The statement will describe what reserves we are holding on behalf of the rental investor.
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. At the end of the year, we compile the monthly statements into a year-end statement. In January we mail 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.
Prince William County Property Management Resources
Basics
Fundamental information regarding property management in Prince William County.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a dependable renter in Prince William County fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A breakdown of fees associated with rental management services in Prince William County
Vetting
How Nesbitt Realty vets renters for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rentals?
Clients
Who uses Nesbitt Realty management services?
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 needs to investigate real estate facts about Prince William County and surrounding areas. The Guide to Real Estate provides information about what has sold and what is on the market, as well as a few compelling facts that you might not be aware of. And, our Guide highlights many of the elements of living in Prince William County. Of course, most of this is interesting for buyers and sellers, but landlords and renters will also find the facts to be very eye-opening.