2014 Super Service award for superior customer satisfaction
For more than a decade, Nesbitt Realty has worked alongside the biggest names in the real estate businesses carving out a niche serving buyers, sellers, renters and landlords in Northern Virgina. Nesbitt Realty has consistently rated as one of the top companies in terms of customer satisfaction. Along the way, Nesbitt Realty has also become know for providing some of the best in property management in Northern Virginia.
Nesbitt Realty is a recipient of 2014 Best of Trulia
Experienced and seasoned, Nesbitt Realty has refined an affordable and dependable approach to property management. Principal Broker Will Nesbitt and his wife, Realtor Julie Nesbitt, have developed systems in property management for:
Rental market awareness
Rental application processing
Maintaining and improving homes and condos
Dealing with association issues when they arise.
Property inspections
Practicing thrifty approaches to address tenant needs and demands
Consistent and reliable disbursement of rental income to our landlords
Preparation of IRS Form 1099 at the end of the tax year
Handling property management emergencies
Avoiding property management emergencies
Nesbitt Realty also helps landlords with buying and selling real estate when needed. We can help landlords maximize their investments by selling when it makes sense and buying cash-flow positive properties that earn money for investors.
To speak with a real estate professional who is concerned about your requirements, call us at (703) 765-0300.
About the Author --- Aubrey Nesbitt is a native of Northern Virginia who attended Virginia Commonwealth University. He is a veteran of the US Army and helps his family business by providing informational articles like this one. In addition to photography and blogging, Aubrey provides administrative support for the office.
Kelly Nesbitt of Nesbitt Realty
Are you consider renting our your property? If you're doing it yourself, you may want to consider how you'll handle problems like these:
What if your tenant does not pay rent?
What if the lawn isn't up kept?
What if the A/C goes out in the middle of a humid heat wave?
What if the sink is clogged? Who's responsible if the sink is clogged by the tenant?
What if the tenant will not let in a handyman?
What if the condo unit above leaks on the unit below?
What if the tenant leaves the unit walls scuffed and the floors dirty?
Nesbitt Realty is provides professional property management services and we deal with problems like these every day. We'll deal with more rentals in a day than most landlords will have in a lifetime. You could do it yourself, but why risk it?Talk to a professional property manager to know how to avoid and overcome these pitfalls.
We are family-owned and operated.
If you own rental property, you probably should consider a property manager. If you don’t know the answers to these questions, then you should definitely contact us to find out more about our property management services.
What is the proper procedure for filing a notice to pay rent?
What notices can permissibly be served to a tenant under the terms of a lease?
What important legislation is looming on the horizon regarding debt collection?
By law, what is the maximum security deposit you can collect in Virginia?
What rights do you have (or not have) regarding pets on your property?
What amenities are included (or not included) with your property?
What are the latest fair credit reporting rules and requirements?
What are the Federal and/or State laws that govern fair housing?
What questions are you NOT allowed to ask on an application?
What laws apply to abandoned personal property left behind by a tenant?
Contact Nesbitt Realty at 703 765 0300 because we know the answers to these questions and questions that you haven't even thought to ask.
For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.
Washington Monument as seen from WWII Memorial
Washington DC is the jurisdiction at the center of the National Capital Region. If you're considering purchasing rental property the area, there is a hidden premium to purchasing a property in DC that many landlords don't know about until it's too late.
According to the Washington City Paper a potential DC landlord needs to be aware that: "D.C.’s housing code is designed to protect residents. It takes up about 70 pages and covers everything from heating and lighting requirements to weatherproofing to repair and maintenance protocol. Of course, city employees aren’t the only ones in town who know the code in and out. Certain tenants have become experts as well. "
Take it from a DC Landlord who said, "Trust me, if you don't have to rent your house/apt out... don't! The rules do little to protect the landlord. I had 'squatters'/house-sitters who decided to cook drugs in my apt. The only reason they probably left was because the DEA was hot on their ass. In the meantime, I had to go to lots of expense to go thru the court system and when I got my house back - it was torn up. I try to screen but the article and previous posters are right. There are career renters who know the rules and will do anything to screw you. Good luck!"
Another DC Landlord says, "The tenant laws in DC are absolutely ridiculous. They MUST be changed. I live in a condo building and a few people have purchased units with the sole intention of renting them out. While we have had a few really good, respectable tenants, we have had one tenant who is just the pits. She deals drugs from her unit, works as a prostitute (using her unit as her 'office'), has been in trouble with the law, and is really bothering the people who live in this building. When the unit owner tried to evict her, he discovered that the process could take more than a year, despite the police reports and other evidence against this low life. He has spent thousands of dollars in legal bills and has admitted that he has now lost more money than he has made off the unit. If you own a property in DC, DON'T rent it out. It's just not worth it in the long-run."
The Lease Never Ends
Tenants in DC cannot be evicted because the lease ends. They just can't. Tenants can only be evicted if the landlord occupies the property themselves or sells to someone who intends to occupy the property themselves. Only investors buy occupied units and investors don't buy in DC because of the difficulties of tenant management. If you are going to claim to occupy your DC rental, you'd better not own a larger and better home elsewhere because you might have difficulty establishing that you actually intend to occupy the property.
The City's Office of Tenant Advocacy is there to advise tenants of their "rights".DC Government provides a bank of resources for tenants.
In DC tenants have significant "rights" that that they don't have in most jurisdictions in the US. For example, tenants may only be evicted for 1 of 10 specific reasons, one of these reasons is NOT because the lease has ended. In DC tenants have a right to "perpetual tenancy" which means that if you rent someone an apartment in DC and they comply with the lease, and pay the rent, that lease is good until they move or die, no matter what it says about the end date. To raise the rent you must adhere to specific guidelines and directives required by the city.
Emily Fairbanks practices law and property management in Washington DCEmilie Fairbanks, an attorney practicing landlord tenant law, writes, "Tenants can demand a jury trial no matter how little they owe or what the lease violation is. Your case will be certified to the Civil Division, a process I will explain fully later, but for now you just need to know it is often very long. Perhaps up to a year. During this time, the lease violation may very well continue and in nonpayment of rent cases you won't be getting any rent, some, hopefully all of the monthly rent going forward from the first court date, will be paid into the court escrow. "
If you decide to sue your tenant for non-payment of rent, be advised that tenants have the right to a jury trial for even the smallest amounts of rent. It will take 6 months to a year to get your day in court and during that time, the landlord will likely not be receiving any income. At best the tenants will be paying into a court escrow account. At worst they will be paying nothing.
The motto of the Office of Tenant Advocacy is "Putting People First". In case you didn't know, tenants are people, but landlords are not. The Legal Division provides the following services:
Legal Rights - Advises tenants of the powers they possess over the landlord and how to manage the landlord
Representation - The tenant can qualify for a free lawyer . . . the landlord does not.
Tenant Petition Filing - Petitions are useful roadblocks to eviction/resolution. Petitions are also a great way to harass a landlord into surrendering. The city will help tenants complete and file tenant petitions. The city will help tenants draft other court documents. The landlord must hire an attorney to navigate the system.
Resolution - This means that the city will help explain to the landlord the facts of life and why surrender is the landlord's best possible option.
Tenant Hotline - There is no landlord hotline to provide an “Ask the Director” forum or to respond to inquiries about rental housing law.
Maintenance
At some point every rental unit anywhere will require maintenance. When that happens you'll likely find that maintenance services in Washington DC generally cost 20% to 100% more than neighboring jurisdictions. Excessive licensing requirements and burdensome regulation discourage small businesses from working in Washington. In addition, many tradesmen based in Virginia and Maryland won't travel into the city to work. Many handymen have told me that they won't work in DC because they can't leave tools unattended for even a moment without risking theft of those tools. Locking down tools and trucks each time you turn your back makes a job take longer and makes the price go up. DC has fewer tradesmen who have higher overhead. Naturally the prices are higher.
Virginia and Maryland are very different.
Nesbitt Realty manages properties in Virginia and we have managed property in Maryland. We do not manage property in DC specifically because of the strong "tenants rights" laws in DC. Those laws make managing property burdensome to the point that it makes no sense for our business. In Virginia, we operate largely in Arlington County, the City of Alexandria and Fairfax County. We find that the laws in Arlington and Alexandria are tenant-friendly but manageable. The laws of Fairfax County are probably closer to what is found in most jurisdictions in the US.
If you're thinking of buying an investment property / rental property in the National Capital Region, you'll find a micro-economy that is recession-proof with a steady supply of renters. So owning a rental in this area can be a smart move. If you've settled on buying in this area, Virginia is probably your best choice, followed by Maryland. If you are a landlord, the District of Columbia is a risky financial endeavor filled with pitfalls awaiting the unwary.
For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.
If you are considering renting an apartment from a landlord or condominium owner or if you are thinking about leasing your property for rent, it is important that you know both the law and the legal instruments that govern landlord tenant relationships in the Commonwealth of Virginia.
Leases:
First, consider the lease. A lease is the contract that governs a landlord-tenant relationship. In contrast, covenants within a lease are generally independent of the lease itself, where if one party breaches a covenant, the other party may still recover dam¬ages but cannot terminate the landlord-tenant relationship in its entirety. Although not covered herein, the doctrines of actual and constructive eviction and the implied warranty of habitability are exceptions to this general rule. In addition, many states including Virginia have created a statutory exception to this general rule which does allow, however, a landlord to terminate a lease for any nonpayment of rent. Below is a brief discussion of a tenant's duty regarding the doctrine of waste and other considerations including ordinary wear and tear as they may or may not be contemplated in any given leasehold agreement.
Tenant's Duty to Repair and the Doctrine of Waste:
A tenant has a duty not to damage (or commit waste on) a leased premises. There are three rules governing waste in a leasehold context, all of which a Landlord may recover for from the tenant in the form of damages should the tenant breach.
1) Voluntary (affirmative) waste results when the tenant intentionally or negligently damages the premises or exploits minerals on the property.
2) Permissive waste occurs when the tenant fails to take reasonable steps to protect the premises from damage from the elements. The tenant is liable for all ordinary repairs, excluding ordinary wear and tear. If the duty is shifted to the landlord (by lease or statute), the tenant has a duty to report deficiencies promptly, and the tenant can assume liability for such deficiencies if not reported in a timely manner pursuant to the lease agreement.
3) Ameliorative waste occurs when the tenant alters the leased property, thereby increasing its value. Generally, the tenant is liable for the cost of restoration. There is a modern exception to this rule, however, which permits a tenant to make this type of change if he is a long-term tenant and the change reflects changes in the neighborhood.
Finally, remember that in the absence of a specific reference to ordinary wear and tear, most repair covenants frequently exclude ordinary wear and tear whereby a Landlord usually remains obligated for certain structural and casualty destruction repairs except for damages caused by the tenant.
Are you leaving the area, but not quite ready to part with your Clarendon townhome? Are you active duty military, with upcoming orders for assignment in Germany? Regardless of your circumstances, property management is a great way of safely and effectively renting out your property. You could use your rental property income to put towards the mortgage, if you haven’t paid it off yet.
Realtor Stuart Nesbitt chats with a handyman
Separation between Clients
Tenants and landlords each have their own wishes that they each want met (e.g. timely rent payments, proper repairs / maintenance, thorough unit inspections, etc.) Having a property manager can make this process a walk in the park, especially for the landlord. Without a property management service, there is the potential to have quarrels over issues, which can lead to undesirable leeway being extended (i.e. late payment). For example, what if your tenant would like to paint the walls? Will you let them smooth talk you and guilt trip you into having it their way? Nesbitt Realty can enforce your rules and keep a diplomatic barrier between both parties.
Legality
Nesbitt Realty can file all of the legal paperwork (e.g. lease, pets addendum, lead based paint disclosure, etc.) involved with renting out your property. This documentation can provide a great preventative safety measure for the landlord, in case of a breach of terms. Nesbitt Realty has several NVAR licensed Realtors who can put your property into the MLS (multiple listing service) and thus reach a much larger audience, than say, using craigslist.
Reliability and Accountability
Whether we like it or not, sometimes homes need maintenance and sometimes they need maintenance at the worst of tim
es (e.g. the dead of winter, early Sunday morning, in the hot and humid summer, etc.) Nesbitt Realty has top notch accountability with handling maintenance issues – from sinks needing snaking, to hardwood floors needing updating, to lost keys needing replacing. If you need to get a hold of the Nesbit Realty, you can call and either a.) Get a hold of someone or b.) Get a call back from someone in a very timely manner. Not everyone has this level of reliability and accountability.
Market Knowledge
Outside political and economic forces can seriously affect the market conditions in the area. CMA’s (competitive market analysis) can help estimate what you can charge for you rental. On the other hand, Zillow estimates, can be very distorted and misleading. Additionally, Nesbitt Realty’s Principal Broker, Will Nesbitt, keeps a very up to date informed eye on the trends affecting the area. This can help to create an appropriate price to get your place rented quickly, preceding a harsh rental market.
Investment Properties
Readying for Spring
Some smart people are aware of the fact that you can use your money to make more money. One way to do this is to buy choice properties, when the conditions are right. Will Nesbitt regularly surveys listings all throughout the Northern Virginia area, to find these assets for clients. Also, the combination of his experience with the vast array of properties, combined with his moral ethical outlook for your best interest, leads to a good partnership for everyone involved.
Luxury upgrades: Avoid trendy and frivolous renovation expenditures. Simple and relevant renovations are more likely to pay off in the long haul.
Amin & Will in Lowes
Garage conversion: Converting a garage to a family room can turn off potential home buyers. Some people want a garage and not a family room. Consider if you plan on selling in the future before you make the change.
Adding a swimming pool: Unless you live in a place that is warm year round, a pool might not the the best idea. Pool maintenance can prove to be very costly. Some home buyers will factor in this cost and decide to pass on your home. Also a pool runs the risk of being a liability for small children.
Bedroom conversion: Converting an office or master closet can deter a home-buyer. Some people prefer the home as it was built, without changes to the layout. If you are considering putting you home on the market, you might want to consider undoing these changes.
Making it too personal: Personalized fixtures, colors, finishes, and paint jobs might not be what the person considering buying your home likes. Neutral finishes, colors, and fixtures are a safe bet. Potential buyers might think your home needs renovation if your personalization is not to their liking.
Taylor, Jim. "Five Home Renovations That Negative Affect Resale Value." Five Home Renovations That Negative Affect Resale Value. Version 1. Realty Times, 25 Nov. 2013. Web. 9 Dec. 2013. <http://jimtaylor.realtytimes.com/advicefromagents1/item/26717-five-home-renovations-that-negative-affect-resale-value>.
“I’ll know it when I see it.” Buyers should come into the home buying process with a list of must-haves and wants. Buyers that want to be taken seriously get preapproved. This helps to expedite the process of making offers and also to pinpoint the price range of what the buyer can afford.
Stuart and Will Nesbitt discussing real estate related matters in the office
“I’m not in any hurry.” Realtors don’t expect to rush you through the home buying process. At the same time, they don’t want to waste their time with a client that doesn’t have any firm motivation to make offers or to buy.
“I’m not going to give it away,” or “it was good enough for me for 30 years, it ought to be good enough for a buyer.” Stiff prices based on feelings can result in a home with a price that will never sell. Realtors suggested prices factor in market value and current conditions.
“Let’s test the market at this price.” This usually means that the price is too high and that the house will set on the market until it gets stale. Because it the home sets in the market for too long, people start to think there’s something wrong with the home and as a result the home ends up selling for less. Realistic prices get realistic offers.
“My sister (brother, cousin, friend,) is a Realtor in another state and she told me that my house would be worth $XXXXXX.” This is a bad idea because no one, including another Realtor, can advise someone about real estate pricing in another state.
“Let’s toss this low-ball offer in to see how serious (or desperate) the seller really is.” A common effect of a low ball offer is rejection and no counter offer. Low-ball offers just offend sellers and result in the seller not taking the offer seriously. Realtors can help generate reasonable offers that will progress the home buying process.
“I’ve bought and sold lots of homes, so I know real estate.” Each real estate transaction stands alone because of several variables (e.g. property’s location, property’s condition, and market value.)
References:
Werner, N. (2013, November 19). Things your REALTOR doesn't want to hear.... Things your REALTOR doesn't want to hear.... Retrieved November 22, 2013, from http://normwerner.realtytimes.com/advicefromagents1/item/26647-things-your-realtor-doesn-t-want-to-hear
A landlord asks us:
Here is a view of the courtyard at the Royalton
I should know the answer to this question but does the 2 year lease actually assure me of rental income for that time period? In other words, if the tenant breaks the lease after 12 months do I have any financial recourse/protection or do I simply take my losses and start looking for another tenant?
Yes . . . and no.
The way our leases (and most leases in the Commonwealth of Virginia) are written, the lease is structured so that the tenant is agreeing to pay a large sum of money for a fixed period of occupancy. That large sum is then divided into monthly payments.
For example, if the monthly rent is $1,000 then a tenant is promising to pay $12,000 for a one year lease. For a two year lease of the same property the tenant is agreeing to pay $24,000 but will make monthly payments of $1000. The promise is to pay $12,000 not to pay $1,000 per month and this is an important distinction in the law because it means that if the tenant breaks the lease he is still obligated to pay the entire lease amount.
But here's where it gets a little complicated. If the tenant breaches his contract and defaults on the lease, then the landlord can sue and recover the entire amount left on the lease from the tenant. At the same time, the landlord is obligated to attempt to mitigate his damages. That means that if the tenant does breach the lease the landlord must try to find a replacement tenant. However, the tenant is responsible for all the landlord's damages. For example, if there is an expense for finding a new tenant, the old tenant must pay that cost. If there is any vacancy between the tenants, the old tenant must pay that to cover the landlord's loss. And a court will back the landlord up to that point.
However, if and when a new tenant is identified then the tenant is off the hook for any further debt which may be left on the lease. The court will not allow the landlord to let a property sit vacant just because the tenant breached a lease. So the tenant has an obligation to find a new tenant and to minimize vacancy and to pay for any vacancy. But the landlord has an obligation to mitigate his damages.
In theory the tenant has obligated himself to pay two years of rent, but in reality things happen and we already have established practices to extract a tenant from a lease.
For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.
Home contractor scams are often on the rise in the spring, and home owners should take steps to make sure they aren’t duped.
The scams often target the elderly, with scammers offering to complete yard or household work for money up-front and then never completing the work after the payment is collected. Or, contractors may complete the work but then attach a higher price than was originally agreed upon.
Several reports of home contractor scams across the country have surfaced in recent weeks. For example, a 77-year-old man in the Philadelphia area was reportedly scammed into paying for a roof repair, which he later discovered was completed using a useless, tar-like substance. In another case, an 83-year-old woman paid a contractor $4,300 and then never saw him again.
"In many cases, we see a person posing as a licensed or reputable contractor, and all checks out until the first payment is made to begin the job, and then the subject disappears,” says Tom Burnett, a spokesman for Wymoo International, a detective agency based in Jacksonville, Fla. “We see fake business cards and web sites being used, and criminals can assume the identity of a real contractor, register a company or use an alias. The goal is always the first payment."
Burnett recommends contacting the Better Business Bureau to check for any complaints against the company or contractor, asking for references and then actually contacting those references, and asking for the contractor’s license number to verify with your state’s Department of Professional Regulation or the contractor’s state license board.
"If someone offers to do a really quick job on your house for a really low price, and it sounds too sound to be true, it probably is,” says Amy Matthews, a spokesperson for Home Advisor, an online site that matches home owners with licensed home contractors.
Source: “How to Spot a Home-Contractor Scam,” U.S. News & World Reports (April 24, 2013)
Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…
About the Author --- Aubrey Nesbitt is a native of Northern Virginia who attended Virginia Commonwealth University. He is a veteran of the US Army and helps his family business by providing informational articles like this one. In addition to photography and blogging, Aubrey provides administrative support for the office.
If you own rental property, you probably should consider a property manager. If you don’t know the answers to these questions, then you should definitely contact us to find out more about our property management services.
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