How We Account For Rents and Expenditures For Our Management Clients

We are very precise about accounting issues.

As rental managers it is our duty to account for every penny of income and each expense. Our team work relentlessly to ensure that every real estate investor has the documentation 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.

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 rent received as well as any expenses that we have paid on the landlord's behalf. The monthly statement is also available electronically. 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. In addition, Nesbitt Realty never marks up 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 report.  In January we send to the landlords, 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

Winchester Rental Management Resources

Basics

Basic info regarding property management in Winchester.

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Getting Started

Learn more about getting started with property management

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Find A Tenant

List your property to rent to find a reliable renter in Winchester fast.

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Accounting

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

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Cost

A list of prices of rental management services in Winchester

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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 rentals?

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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 want know more about the community?

Our Guide to Real Estate is a helpful resource for everyone who wants to find out more about Winchester and surrounding areas.  The Guide to Real Estate has information about what has sold and what is for sale, and a couple of surprising facts that you might not be aware of.  In addition, our Guide has some aspects of residing in Winchester.  Of course, most of this is helpful for purchasers and sellers, but property owners and renters will probably also find this information to be very eye-opening.

Serving Winchester

Do you need a rental property manager?

Learn more about our rental management services. We service landlords in Virginia.