What do property management companies in Northern Virginia do?
If this is your first-time hiring a property management company, you should want to learn more about what exactly rental property management companies do. If this handy reference doesn't answer all your questions, we're always happy to help.
Collect Rents
Nesbitt Realty puts rents into an escrow account and from that account we disburse funds to pay bills, income to the landlord and fees to the rental property management company.
Keep Records
Nesbitt Realty keeps an accounting of all income 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 necessary, we deal with homeowner's association (or condo association). If the tenant is in violation of homeowner or condo association rules, we provide official notice to your renter and take steps to put the tenant in compliance. We keep you apprised of notices and necessary actions.
Legal Compliance
Nesbitt Realty ensures that your rental property complies with state laws, local Northern Virginia ordinances, licensing requirements, association rules, Fair Housing laws, insurance requirements, IRS requirements.
Manage Repairs
Nesbitt Realty manages and dispatches maintenance personnel as needed. We aim to have work done in a prompt fashion at a price and quality satisfactory to the property owner.
Inspections
Nesbitt Realty inspects the rental at the time of move-in at the time of move-out and from time-to-time while the tenant is occupying the property.
Provide a Level of Separation
This is the one duty that no property owner 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.
Our Differentiators
What makes us different from other property managers in Northern Virginia
Northern Virginia Property Management Resources
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Basics
Basic info about what rental managment in Northern Virginia.
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Getting Started
Learn more about getting started with property management
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Find A Tenant
Market your property to rent to find a dependable renter in Northern Virginia fast.
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Accounting
How does Nesbitt Realty keep track of income and expenses for landlords?
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Cost
A list of fees associated with rental management in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of tenants for property owners.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage rental investments?
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Clients
Who uses Nesbitt Realty management services?
There is a first-time for everyone.
Should you know more about the local real estate market?
Nesbitt Realty's Guide to Real Estate is a free tool for everyone who needs to find out more about Northern Virginia and surrounding areas. The Guide to Real Estate includes facts regarding what has sold and what is currently listed, as well as many compelling facts that you may not know. In addition, our Guide features some fundamentals of living in Northern Virginia. Naturally, all of this is helpful for buyers and sellers, but property owners and renters will likely also find the facts to be very informative.
More Information
If you've never employed a property management company in Northern Virginia before, you will want to understand as much as possible about the process and what rental property management companies actually do. Feel free to call and chat 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.
