Property management is a business in and of itself. If you want to invest in real estate, but you don’t want to be a property manager, the solution is really quite simple: employ the services of Nesbitt Realty. Our property managers are experienced individuals who will manage the day-to-day operations of your property. We manage residential properties, multi-family properties and even homeowners and condo associations.
A big value-add provided by your Nesbitt Realty property manager is “separation”. This to say, your Nesbitt Realty property manager maintains a level of separation between the landlord and the tenants and the property. As you may already know, it’s important to invest in real estate without emotionally investing in tenants or property. Your Nesbitt Realty property manager helps ensure that you always make the best decision for your family, rather than making the best decision for the tenant’s family.
So, your Nesbitt Realty rental property manager serves as a buffer between the owner and his tenants. Nesbitt Realty can help you find tenants, handling repair projects and maintenance, oversee improvements, collect rent, and even pay some expenses and taxes. The specific tasks we handle vary based upon upon the needs and wishes of the property owner.
Nesbitt Realty Property Management also handles commercial properties such as office buildings, freeing the owners from the day to day responsibilities. Additionally, a competent Nesbitt Realty property manager gives you protection from certain liabilities.
Nesbitt Realty usually charges a percentage of the rents collected. Every aspect of Nesbitt Realty property manager’s responsibilities will be outlined in a contract signed by both Nesbitt Realty and the landlord. This agreement details financial responsibilities and specifies the types of financial reports the landlord can expect.
Your Nesbitt Realty property manager will stay current on new laws and condo regulations which may be relevant to your situation. Nesbitt Realty Property Management takes a lot of the burden off of owning rental real estate. Most Nesbitt Realty property managers are themselves landlords. They know your needs.
Do you really need a property manager?
Although hiring a property management company has many advantages, there is an expense associated with hiring a property manager. In addition to the cost of property management, there are other reasons why property management might not be for you. Consider the following factors to determine if hiring a property management company would be a good decision for your property.
Ask yourself these questions:
- Will you live and work near your rental property? Northern Virginia is a very transient area. We have more than our share of military, diplomats, State Department, political appointees and academia. If you’re getting transferred across the country or around the world, it might be a good idea to let a professional manage your rental. Even simple tasks can get complicated very quickly when you aren’t around to manage the details.
- Do you want to handle the details of property management? Some landlords look forward to the challenge of finding good tenants. Some landlords find that maintaining a property and managing details is rewarding and enjoy taking late night calls. On the other hand, if you think rental property ownership is a chore and want little or nothing to do with the day-to-day management of your properties, you should probably consider hiring help to manage your property.
- How busy are you? Even if you find hands-on management rewarding, you may not have much time to devote to your property management business. If you’ve already got a full-plate, then the last thing you need is more to worry about, thus hiring a management company may be a good way to spend your money.
- Can you afford the cost? Let’s face it. Hiring a property management company is much more attractive option if you can afford it. If monthly cash-flow is not an issue, you’ll likely save money by paying a property manager and writing off the expense. But if at the end of every month cash is tight, you might not want to hire a property manager.
- Can you afford the risk? Do you understand the Virginia Residential Landlord Tenant Act? Do you know the tenant’s rights? Do you know your responsibilities? The more you know about property management in today’s litigious culture the more you’ll understand the value of having a professional in your corner.
- Do you have access to a network of maintenance people? All properties require maintenance. When your tenant calls you in need of repair will you know who to call and what to do in a timely fashion? If not, yo might want to consider hiring a property manager.
We’re here when you need us. Our real estate agents love to help clients achieve their real estate goals!
|About the Author --- Will Nesbitt is the principal broker of Nesbitt Realty and Condo Alexandria. Will specializes in real estate, fine homes & condominiums in Alexandria, Arlington, Fairfax County, Crystal City, and Kingstowne. Will resides in Belle Haven Estates just outside Alexandria VA in Fairfax County.|