What do property management companies in Northern Virginia do?
If this is your first-time hiring a rental property manager, you should want to learn more about what exactly property management companies do. If this reference doesn't answer all your questions, we're always will to help.
Nesbitt Realty deposits funds from rent into an escrow account and from that account we disburse funds to pay bills, income to the property owner and fees to the property manager.
Nesbitt Realty keeps an accounting of all money and receipts. We send monthly statements to the real estate investor and at the end of the year we prepare a 1099 tax document and an annual statement for tax preparation. These records are also available electronically if you prefer.
Deal with the Association
When necessary, your manager will deal with homeowner or condo association. If the tenant has violated homeowner's association (or condo association) covenants, we give written notice to the tenant and take steps to put your tenant in compliance. We keep you apprised of notices and necessary actions.
Nesbitt Realty ensures that your rental property complies with state laws, local Northern Virginia ordinances, licensing requirements, association rules, Fair Housing laws, insurance requirements, IRS requirements.
Nesbitt Realty manages and dispatches maintenance personnel when required. We strive to get work done in a timely manner at a price and quality acceptable to the property owner.
Nesbitt Realty inspects the property at the time of move-in at the time of move-out and from time-to-time during tenancy.
Provide a Level of Separation
This is the one duty that no real estate investor can perform. A level of separation ensures professionalism is always maintained and personal feelings do not enter into the equation. Nesbitt Realty manages tenant relations including maintenance requests, late fee notices. We deal with a laundry list of tenant problems:
- unauthorized guests, unauthorized pets,
- parking issues,
- tenant cleanliness,
- noise violations,
- neighbor complaints, etc.
If necessary, we manage the process of prosecuting actions to evict Tenants.
Northern Virginia Property Management Resources
Do you need understand more about this local real estate market?
Our Guide to Real Estate is a handy resource for everyone who wants to review important real estate information about Northern Virginia and neighboring areas. The Guide to Real Estate provides information regarding what has sold and what is currently listed, and a few interesting facts that you may not know. In addition, our Guide has many of the elements of living in Northern Virginia. As a matter of course, most of this is helpful for buyers and sellers, but rental investors and renters will likely also find this data to be somewhat sobering.
If you've never employed a rental property management company in Northern Virginia before, you should want to know as much as possible about the process and what property management companies actually do. Feel free to call and talk about specific questions.
Money in general does not flow from the landlord to the property manager. Money flows from the tenant to the property manager to the landlord. Fees and commissions are withheld from collected rents. The next step is to learn a little more about what differentiates us from other property managers.