What do rental property management companies in Winchester do?
If this is your first-time considering hiring a rental property manager, you should want to understand more about what exactly property management companies do. If this quick reference doesn't answer all your questions, we're always will to help.
Nesbitt Realty deposits funds from rent into an escrow account and from that account we disburse funds to pay bills, income to the property owner and fees to the property management company.
Nesbitt Realty keeps a record of all income and receipts. 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 necessary, your manager will deal with homeowner's association (or condo association). If the tenant has violated HOA/COA covenants, we give official notice to the tenant and take steps to put your renter in compliance. We keep you apprised of notices and necessary actions.
Nesbitt Realty ensures that your rental property complies with state laws, local Winchester ordinances, licensing requirements, association rules, Fair Housing laws, insurance requirements, IRS requirements.
Nesbitt Realty manages and dispatches handymen when needed. We aim to have work done in a prompt fashion at a price and quality acceptable 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 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.
Winchester Rental Management Resources
Do you need know more about the area?
Our Guide to Real Estate is a free resource for everyone who wants to learn more about Winchester and surrounding communities. The Guide to Real Estate provides data about what has sold and what is on the market, and many shocking facts that you may not know. Not to mention, our Guide has quite a few of the aspects of residing in Winchester. Yes, most of this is helpful for purchasers and sellers, but real estate investors and tenants will probably also find these resources to be quite eye-opening.
If you've never contracted with a property manager in Winchester before, you should want to know as much as possible about management 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.