Tag: property owner

Property management is a business in and of itself. If you want to invest in real estate, but you don't want to be a property manager, the solution is really quite simple: employ the services of Nesbitt Realty. Our property managers are experienced individuals who will manage the day-to-day operations of your property. We manage residential properties, multi-family properties and even homeowners and condo associations.

A big value-add provided by your Nesbitt Realty property manager is "separation". This to say, your Nesbitt Realty property manager maintains a level of separation between the landlord and the tenants and the property. As you may already know, it's important to invest in real estate without emotionally investing in tenants or property. Your Nesbitt Realty property manager helps ensure that you always make the best decision for your family, rather than making the best decision for the tenant's family. So, your Nesbitt Realty rental property manager serves as a buffer between the owner and his tenants. Nesbitt Realty can help you find tenants, handling repair projects and maintenance, oversee improvements, collect rent, and even pay some expenses and taxes. The specific tasks we handle vary based upon upon the needs and wishes of the property owner. Nesbitt Realty Property Management also handles commercial properties such as office buildings, freeing the owners from the day to day responsibilities. Additionally, a competent Nesbitt Realty property manager gives you protection from certain liabilities.

Nesbitt Realty usually charges a percentage of the rents collected. Every aspect of Nesbitt Realty property manager's responsibilities will be outlined in a contract signed by both Nesbitt Realty and the landlord. This agreement details financial responsibilities and specifies the types of financial reports the landlord can expect. Your Nesbitt Realty property manager will stay current on new laws and condo regulations which may be relevant to your situation. Nesbitt Realty Property Management takes a lot of the burden off of owning rental real estate. Most Nesbitt Realty property managers are themselves landlords. They know your needs. If you've never hired the services of a property manager before, you'll probably want to learn as much as possible about the process and what exactly property managers' portfolio entails. In the broadest sense, here's what all property managers do (or promise to do):

1. Collect rents. Place rents into an escrow account. Disburse funds to pay bills, income to landlords, 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 and late fee notices. We also 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, and 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 make random inspections 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 a 30-day-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.] Did you know that Nesbitt Realty will match any offer by any Realtor in Northern Virginia?

For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.