What do property management companies in Washington do?
If this is your first-time considering hiring a property management company, you should want to learn more about what exactly rental property management companies do. If this free reference doesn't answer all your questions, we're always happy to help.
Nesbitt Realty puts rents into an escrow account and from that account we disburse funds to pay bills, income to the property owner and fees to the property manager.
Nesbitt Realty keeps an accounting of all money and receipts. 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, we deal with homeowner's association (or condo association). If your renter is in violation of homeowner or condo association rules, we give official notice to your 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 Washington ordinances, licensing requirements, association rules, Fair Housing laws, insurance requirements, IRS requirements.
Nesbitt Realty manages and dispatches maintenance personnel as required. We strive to have 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 while the lease is active.
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.
Washington Rental Management Resources
Should you know more about the area?
Our Guide to Real Estate is a handy resource for everyone who hopes to learn more about Washington and surrounding communities. The Guide to Real Estate includes data about what has sold and what is currently listed, and a couple of interesting facts that you may not be aware of. Also, our Guide features many of the fundamentals of life in Washington. Certainly, most of this is interesting for purchasers and sellers, but owners and renters will also find these tools to be quite edifying.
If you've never employed a rental property manager in Washington 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.