What do rental property management companies in Northern Virginia do?
If this is your first-time hiring a property management company, you should want to learn more about what exactly property managers do. If this quick reference doesn't answer all your questions, we're always happy to help.
Nesbitt Realty puts 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 management company.
Nesbitt Realty keeps an accounting of all income and payables. 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 required, your manager will deal with homeowner or condo association. If your renter is in violation of homeowner or condo association covenants, we give notice to the renter and take steps to put the tenant in compliance. We keep you apprised of notices and required 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 needed. We strive to have work done in a timely manner at a price and quality acceptable to the real estate investor.
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 landlord 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 area?
Nesbitt Realty's Guide to Real Estate is a free resource for everyone who needs to investigate real estate facts about Northern Virginia and nearby areas. The Guide to Real Estate has information about what has sold and what is currently listed, and some surprising facts that you may not know. And, our Guide features some benefits of residing in Northern Virginia. As might be expected, all of this is helpful for purchasers and sellers, but property owners and renters may also find these tools to be quite sobering.
If you've never contracted with a rental property manager in Northern Virginia before, you may want to know as much as possible about the process and what rental property management companies actually do. Feel free to call and discuss 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.