What do property managers in Fox Lake do?
If this is your first-time hiring a rental property manager, you may want to know more about what exactly property managers do. If this handy reference doesn't answer all your questions, we're always eager to provide more information.
Collect Rents
Nesbitt Realty puts rents into an escrow account and from that account we disburse funds to pay bills, income to the real estate investor and fees to the property manager.
Keep Records
Nesbitt Realty keeps an accounting 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 required, your manager will deal with HOA/COA. If the tenant has violated homeowner or condo association covenants, we give notice to the tenant and take steps to put the tenant in compliance. We keep you apprised of notices and required actions.
Legal Compliance
Nesbitt Realty ensures that your rental property complies with state laws, local Fox Lake ordinances, licensing requirements, association rules, Fair Housing laws, insurance requirements, IRS requirements.
Manage Repairs
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.
Inspections
Nesbitt Realty inspects the rental 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.
Our Differentiators
What makes us different from other property managers in Fox Lake
Fox Lake Rental Management Resources
Basics
Fundamental information regarding management services in Fox Lake.
Getting Started
Learn more about getting started with property management
Find A Tenant
Market your property to rent to find a reliable renter in Fox Lake fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A breakdown of fees associated with property management services in Fox Lake
Vetting
How Nesbitt Realty vets tenants for our clients.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rental investments?
Clients
Who uses Nesbitt Realty management services?
Do you want understand more about the local real estate market?
Our Guide to Real Estate is a helpful tool for everyone who wants to find out more about Fox Lake and nearby areas. The Guide to Real Estate includes facts regarding what has sold and what is for sale, as well as a few compelling facts that you might not know. And, our Guide highlights quite a few of the benefits of life in Fox Lake. Yes, all of this is helpful for purchasers and sellers, but rental investors and renters might also find the facts to be very eye-opening.
More Information
If you've never hired a property management company in Fox Lake before, you will want to understand as much as possible about management and what property managers really 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.