How We Account For Rents and Expenditures For Our Landlord Clients

We are very attentive with fiduciary issues.

As rental property managers it is our duty to keep close track on every penny of income and each expense. All of us work relentlessly to make sure that each rental property owner has the tools and paperwork to know exactly where is money is going to and coming from. To accomplish this task we work with one of the most powerful software tools in our profession: 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 rental income as well as any expenses that we have paid on the landlord's behalf. The monthly statement is also available online. The monthly statement will describe what funds we are holding on behalf of the real estate 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 compile the monthly reports into a year-end statement.  In January we mail the real estate investors, and to the IRS, a 1099 stating the income for the rental. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.

 

rent manager
Nesbitt Realty uses Rent Manager

Rappahannock County Rental Management Resources

Basics

Fundamental information regarding property management in Rappahannock County.

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Getting Started

Learn more about getting started with rental property management

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Find A Tenant

Market your property to rent to find a dependable tenant in Rappahannock 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

An overview of fees associated with property management services in Rappahannock County

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Vetting

How Nesbitt Realty checks the backgrounds of renters for property owners.

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Reserves

What is a contingency reserve account?

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Territory

Where does Nesbitt Realty manage rental 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 rental 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.

Do you need understand more about our area?

Nesbitt Realty's Guide to Real Estate is a free resource for everyone who wants to review important real estate information about Rappahannock County and neighboring areas.  The Guide to Real Estate provides facts regarding what has sold and what is on the market, and a few interesting facts that you might not know.  Not to mention, our Guide features many of the assets of residing in Rappahannock County.  Of course, most of this is helpful for buyers and sellers, but rental investors and renters will also find these tools to be quite sobering.

Serving Rappahannock County