Credit History

Good great is a good indicator, but is no guarantee of a good tenant. Good credit history indicates that someone pays bills on time and knows how to manage their finances. Renters usually have worse credit than homeowners / landlords.  Bad credit is not an absolute disqualifier. There are perfectly valid reasons why some people have bad credit and some of those people with bad credit can be outstanding tenants.

A credit history check is not the beginning or end but it is a good place to start to get a picture of whom you're dealing with.

 

Property Management Basics

If you've never used a property manager before, you'll probably want to learn as much as possible about the process and what exactly property managers do. In the broadest sense, here's what all property managers do (or promise to do):
  1. Collect the rents. Put the rents into an escrow account. Disburse funds to pay bills, income to the landlord and fees to the property management company.
  2. Keep a record of all money and receipts and furnish that record on a regular basis to the landlord.
  3. Deal with HOA/COA.
  4. Manage tenant relations including maintenance requests, late fee notices. 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.
  5. Ensure compliance with state laws, local ordinances, licensing requirements, association rules, Fair Housing laws, insurance requirements, IRS requirements.
  6. Manage and dispatch handymen as needed.
  7. Inspect the property at the time of move-in at the time of move-out and from time-to-time during tenancy.
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. Our standard agreement is a one year term, but either party can terminate the arrangement with 30 days notice. The next step is to learn a little more about what differentiates us from other property managers. [Learn more about our property management services now.]  

Northern Virginia Rental Management Resources

Basics

Basic info 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

List your property to rent to find a reliable tenant in Northern Virginia fast.

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Accounting

How does Nesbitt Realty keep track of income and expenses for real estate investors?

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Cost

A list of fees associated with rental management services in Northern Virginia

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Vetting

How Nesbitt Realty vets tenants for landlords.

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Reserves

What is a contingency reserve account?

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Territory

Where does Nesbitt Realty manage rental property?

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Clients

Who uses Nesbitt Realty management services?

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Contact

Call (703)765-0300 to speak to a property management specialist now.

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