- Landlords who have never used a property manager before. Some owners have managed their own properties, but some have never had a rental property before. If you've never employed a property manager, you may want to start by learning about property management and what are the general conventions and standard practices of our industry.
- Landlords who have used a property manager before. Some owners are switching to our property management services because they don't like their current property manager.
A landlord who already understands what is expected of a property manager, probably wants to know more about why people choose Nesbitt Realty. Learn more about what makes us different from other property management companies.
Generating Property Management Documents
The contract we use is a boilerplate agreement written by the staff attorneys at the Northern Virginia Association of Realtors. This contract was designed to be used by any Realtor doing property management in Northern Virginia. We believe it's to our mutual advantage to stick with the standard agreement as much as possible to avoid. The language is plain and simple and it's the same as everyone else is using. The primary changes are the names and addresses of the parties and the price of our services.
In addition to our standard monthly fee, we insert numbers for incidental fees. Most of the additional charges apply to very unusual situations that rarely or never happen to most landlords. For example, if the landlord decides to completely renovate the property and the landlord wants us to manage that project we charge $150. Some of the additional fees are optional addition services. For example we charge $200 per meeting if the landlord requires us to attend HOA meetings.
Creating your documents takes about 15 to 20 minutes and we most usually do this over the phone. Once the documents are generated we prefer electronic signatures. Using a third-party software called "Docusign" we email you a link to the documents where you can review and then click to indicate your acceptance. After all parties have signed our team jumps into action.
Setting up your account
You'll probably hear from Kelly Nesbitt as soon as you sign up with us. Kelly's job is to coordinate the requirements of starting your account. He'll contact you to get
- keys, passes
- an IRS w-9 form (so that we can pay you)
- a copy of insurance
- security codes for alarm systems
- a voided check (so that we can give you direct deposits)
- anything else required to make your account go live.
Kelly will then enter the information that you provide into our RentManager software as well as our proprietary programs and checklists to make sure nothing is overlooked. Kelly is also there to assist you filling out the property management information form as well as gathering additional information from you.
Many of our new accounts have tenants in place. If so, great we're happy to help settle your tenant into our system. If you're curious about our process for transitioning a tenant to our property management system we're happy to explain what we do.
If your property is vacant or soon to be vacant learn more about, check here to learn
- How we find tenants— More about our marketing process and our fees;
- Vetting Tenants— How we protect the landlord’s interests.
Listing your property
If your property needs a tenant, we immediately assign a Realtor to get the property listed. Our agents include Stuart Nesbitt, Julie Nesbitt, Andrew Patton, Ron Ginyard and others. One of the agents will contact you to make arrangements to take photos. Unless the landlord has other instructions, within 48 hours we will have the property on 100's of websites including Realtor.com, Zillow, Trulia, Hotpads and our own website. We will push the property onto the desk of every Realtor in Northern Virginia using the MLS.
The agents will carefully examine your home and make recommendations that could improve your homes rentability. The agent will also determine repairs that are required before we can help you. We can make suggestions for contractors if necessary.
The agent will also do a comparative market analysis to help determine the retail rental value of your home. By comparing your property to similar homes that are currently available and comparing your home to homes that recently rented we can determine the probable market value of the rental. From there we will make a recommended list price for the rental.