What do rental property managers in Broadway do?
If this is your first-time considering hiring a rental property manager, you might want to know more about what exactly rental property managers do. If this free reference doesn't answer all your questions, we're always eager to help.
Nesbitt Realty puts funds from rent 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 an accounting of all money 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, we deal with homeowner or condo association. If the tenant has violated homeowner or condo association rules, we give written notice to the renter and take steps to put your renter in compliance. We keep you apprised of notices and required actions.
Nesbitt Realty ensures that your rental property complies with state laws, local Broadway ordinances, licensing requirements, association rules, Fair Housing laws, insurance requirements, IRS requirements.
Nesbitt Realty manages and dispatches maintenance personnel when needed. We aim to have work done in a timely manner 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 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.
Broadway Property Management Resources
Do you need know more about our area?
Nesbitt Realty's Guide to Real Estate is a handy tool for anyone who hopes to find out more about Broadway and surrounding areas. The Guide to Real Estate provides information about what has sold and what is on the market, and some compelling facts that you might not be aware of. Not to mention, our Guide highlights quite a few of the elements of residing in Broadway. As a matter of course, most of this is helpful for purchasers and sellers, but property owners and renters will probably also find the facts to be somewhat eye-opening.
If you've never contracted with a property management company in Broadway before, you may want to understand as much as possible about the process and what rental 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.