What do rental property management companies in Northern Virginia do?
If this is your first-time hiring a property management company, you might want to know more about what exactly property management companies do. If this free reference doesn't answer all your questions, we're always eager to help.
Collect Rents
Nesbitt Realty deposits 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.
Keep Records
Nesbitt Realty keeps a record of all income and payables. 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, your manager will deal with homeowner's association (or condo association). If your renter is in violation of homeowner's association (or condo association) covenants, we give notice to the tenant and take steps to put the renter 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 Maintenance
Nesbitt Realty manages and dispatches maintenance personnel when required. We aim to get work done in a prompt fashion at a price and quality satisfactory to the real estate investor.
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 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.
Our Differentiators
What makes us different from other property managers in Northern Virginia
Northern Virginia Property Management Resources
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Basics
Basic information about what rental managment in Northern Virginia.
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Getting Started
Learn more about getting started with rental property management
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Find A Tenant
Market your property to rent to find a dependable tenant 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
An overview of fees associated with rental management in Northern Virginia
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Vetting
How Nesbitt Realty checks the backgrounds of renters for property owners.
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Reserves
What is a contingency reserve account?
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Territory
Where does Nesbitt Realty manage property?
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Clients
Who uses Nesbitt Realty management services?
Do you want know more about this area?
Our Guide to Real Estate is a free resource for anyone who needs to learn more about Northern Virginia and neighboring areas. The Guide to Real Estate has information regarding what has sold and what is on the market, and a few compelling facts that you may not know. Also, our Guide has some aspects of residing in Northern Virginia. Of course, all of this is interesting for buyers and sellers, but property owners and tenants might also find this information to be somewhat sobering.
More Information
If you've never contracted with a property manager in Northern Virginia before, you should want to learn 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.