What do rental property management companies in Northern Virginia do?
If this is your first-time hiring a property manager, you should want to understand more about what exactly rental property managers do. If this quick reference doesn't answer all your questions, we're always eager 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 manager.
Keep Records
Nesbitt Realty keeps an accounting of all money 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, we deal with homeowner's association (or condo association). If your renter is in violation of homeowner's association (or condo association) covenants, we give official notice to the tenant and take steps to put the renter in compliance. We keep you apprised of notices and required 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 Upkeep
Nesbitt Realty manages and dispatches handymen when needed. We try to have work done in a timely fashion at a price and quality acceptable 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 info regarding 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
List 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
A breakdown of prices of rental management in Northern Virginia
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Vetting
How Nesbitt Realty vets renters for landlords.
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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 understand more about this area?
Our Guide to Real Estate is a handy tool for anyone who hopes to learn more about Northern Virginia and surrounding communities. The Guide to Real Estate includes facts about what has sold and what is currently listed, as well as a few interesting facts that you might not be aware of. And, our Guide highlights quite a few of the benefits of living in Northern Virginia. Of course, all of this is useful for purchasers and sellers, but rental investors and renters may also find this information to be very edifying.
More Information
If you've never contracted with a rental property manager in Northern Virginia before, you may want to know as much as possible about the process and what property management companies really 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.
