What do property management companies in Washington do?
If this is your first-time hiring a property manager, you may want to know 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 puts funds from rent into an escrow account and from that account we disburse funds to pay bills, income to the landlord and fees to the rental property manager.
Nesbitt Realty keeps a record of all income and receipts. 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 homeowner's association (or condo association). If the tenant is in violation of HOA/COA rules, we provide official notice to your tenant and take steps to put the renter in compliance. We keep you apprised of notices and necessary 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 when required. We strive to have work done in a prompt fashion at a price and quality satisfactory 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 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.
What makes us different from other property managers in Washington
Washington Rental Management Resources
Should you understand more about the local real estate market?
Our Guide to Real Estate is a helpful resource for anyone who wants to learn more about Washington and neighboring communities. The Guide to Real Estate has information about what has sold and what is for sale, as well as many interesting facts that you may not be aware of. In addition, our Guide spotlights many of the benefits of life in Washington. Of course, most of this is interesting for purchasers and sellers, but property owners and tenants will also find these tools to be quite sobering.
If you've never employed a rental property management company in Washington before, you may want to learn as much as possible about the process and what property management companies 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.