What do property management companies in Arlington do?
If this is your first-time hiring a property management company, you may want to learn more about what exactly property management companies do. If this quick reference doesn't answer all your questions, we're always eager to provide more information.
Nesbitt Realty puts rents into an escrow account and from that account we disburse funds to pay bills, income to the landlord and fees to the property management company.
Nesbitt Realty keeps a record of all income and payables. We send monthly statements to the landlord 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's association (or condo association). If the tenant is in violation of HOA/COA rules, we provide written notice to the renter and take steps to put your tenant in compliance. We keep you apprised of notices and required actions.
Nesbitt Realty ensures that your rental property complies with state laws, local Arlington ordinances, licensing requirements, association rules, Fair Housing laws, insurance requirements, IRS requirements.
Nesbitt Realty manages and dispatches handymen when needed. We try to have work done in a prompt fashion at a price and quality acceptable to the property owner.
Nesbitt Realty inspects the rental at the time of move-in at the time of move-out and from time-to-time while the tenant is occupying the property.
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.
Arlington Property Management Resources
Should you understand more about our community?
Nesbitt Realty's Guide to Real Estate is a handy resource for anyone who hopes to investigate real estate facts about Arlington and nearby areas. The Guide to Real Estate has information regarding what has sold and what is on the market, as well as a few compelling facts that you might not be aware of. In addition, our Guide has quite a few of the aspects of living in Arlington. Of course, all of this is useful for purchasers and sellers, but property owners and renters might also find these resources to be somewhat sobering.
If you've never contracted with a rental property manager in Arlington before, you will want to learn as much as possible about management and what property management companies 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.