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

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.

 

rent manager
Nesbitt Realty uses Rent Manager

Prince William County Rental Management Resources

Basics

Elementary information about what property management in Prince William County.

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Getting Started

Learn more about getting started with property management

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Find A Tenant

Market your property to rent to find a great renter in Prince William County fast.

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Accounting

How does Nesbitt Realty keep track of income and expenses for real estate investors?

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Cost

A breakdown of prices of rental management services in Prince William County

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Vetting

How Nesbitt Realty checks the backgrounds of tenants 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 manager 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 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.

Serving Prince William County