What do rental property management companies in West McLean do?
If this is your first-time hiring a rental property manager, 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 happy 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 real estate investor and fees to the property manager.
Nesbitt Realty keeps a record 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's association (or condo association). If the tenant is in violation of homeowner or condo association rules, we give written notice to your tenant 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 West McLean ordinances, licensing requirements, association rules, Fair Housing laws, insurance requirements, IRS requirements.
Nesbitt Realty manages and dispatches maintenance personnel when needed. We try to have work done in a prompt fashion at a price and quality satisfactory to the real estate investor.
Nesbitt Realty inspects the rental at the time of move-in at the time of move-out and from time-to-time while the lease is active.
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.
West McLean Rental Management Resources
Should you know more about the community?
Our Guide to Real Estate is a free tool for everyone who needs to investigate real estate facts about West McLean and surrounding communities. The Guide to Real Estate compiles facts regarding what has sold and what is currently listed, and a couple of compelling facts that you may not be aware of. And, our Guide spotlights many of the elements of living in West McLean. As a matter of course, most of this is helpful for buyers and sellers, but property owners and renters will likely also find these resources to be somewhat informative.
If you've never used a property manager in West McLean before, you should want to learn as much as possible about the process and what rental property managers 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.