What do rental property managers in Catalina do?
If this is your first-time hiring a property management company, you might want to learn more about what exactly property management companies do. If this free reference doesn't answer all your questions, we're always will to provide more information.
Nesbitt Realty deposits rents into an escrow account and from that account we disburse funds to pay bills, income to the landlord and fees to the property manager.
Nesbitt Realty keeps an accounting of all money and payables. We send monthly statements to the property owner 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, we deal with HOA/COA. If your renter has violated homeowner's association (or condo association) covenants, we give official notice to the tenant 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 Catalina ordinances, licensing requirements, association rules, Fair Housing laws, insurance requirements, IRS requirements.
Nesbitt Realty manages and dispatches handymen as required. We aim 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.
Catalina Rental Management Resources
Should you understand more about the area?
Nesbitt Realty's Guide to Real Estate is a handy resource for everyone who hopes to find out more about Catalina and neighboring areas. The Guide to Real Estate compiles facts about what has sold and what is currently listed, and a few interesting facts that you might not be aware of. And, our Guide features quite a few of the elements of residing in Catalina. Of course, most of this is helpful for buyers and sellers, but real estate investors and tenants will probably also find this data to be quite informative.
If you've never employed a property manager in Catalina before, you will want to learn as much as possible about the process and what property managers actually do. Feel free to call and chat 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.