Experience Peace of Mind by Hiring a Competent Property ManagerManaging tenants, repairs, and related issues are very challenging no matter how lucrative an investment property management may be. This situation becomes even more difficult if you are an owner who lives in another town or state or if you are in full-time employment and you know nothing about real estate investments or you have little time to handle real estate matters. If you fall in this category, hiring and efficient property management company ensures that you are worry-free and hassle free. The following are questions that you should consider asking potential property managers during an interview with him/her. Hоw Much Experience do You Have in Property Management? Being in the business for quite some time means that this is a reliable property management company. What it also means is that the manager has a lot of relevant experience and, as a result, he/she has handled a lot of complicated situations and problems that have emerged on a regular basis during daily operations. There is the likelihood that he/she is experienced with a wide range of issues such as legal, emergency response, maintenance expertise, and accounting. Nesbitt Realty has been in existence for more than 10 years. Our property managers, however, has been actively involved with property management for an additional 20 years prior.
- Have you been licensed bу relevant ѕtаtе аnd іnduѕtrу authorities? Licensed managers must have successfully completed an approved property management course of study and have passed a state licensing exam in a number of states. However, a property manager license is not required in the Commonwealth of Virginia. Nevertheless, Nesbitt Realty's property managers are all licensed real estate agents who report directly to a licensed real estate broker. You will find that Nesbitt's agents are very familiar with state regulations for the handling of rental income, security deposits, and other financial affairs that needs to be dealt with. Licensure is not the only important aspect of property management, certification is equally important as it is an also an indication of more extensive industry knowledge. Trade organizations grant these credentials. Nesbitt Realty is an approved member of the National Association of Residential Property Managers and has a number of related affiliations.
- Will you be able to provide me with referrals from candidates whom you have served in the past? It is important for a property manager to provide a prospective client with the contact information for both current or past clients who will be pleased to speak on the behalf the property manager. If you are a potential client, you should check out the addresses of which the business is in control of so that you will be able to ensure that they are properly run. Similarly, referrals from trusted and reliable contacts is an excellent means of vetting a short list of potential companies. Nesbitt Realty is the winner of the Super Service Award for thee last four years in a row from Angie's List. The members on Angie's List are verified real clients who have given feedback on our services, and we thank them for the time that they have taken.
- How much are the fees that you сhаrgе? There is a wide range of industry fees; however, the standard costs are inclusive of a management fee that ranges anywhere from 5% to 12% of the monthly rate. This is dependant on the location and condition of the real estate, as well as the location and the condition of the real estate and whether there are more than one holding. The number of units in each holding and the types of services necessary are also important when calculating the total fees charged. Nesbitt Realty is generally one of the firms that charge the lowest fees in the area. There are some realty companies that charge a vacancy fee each month whenever the house is uninhabited. There are other companies that charge a fee regardless of whether there is a current tenant. Be assured that Nesbitt Realty does not indulge in these practises. Several companies are well-known for charging set-up fees for new clients that amounts to up to $300. Nesbitt Realty does not believe in charging clients set-up fees as well. There is also a trend that clients who rely on a property management company to search and find tenants for them expects to pay anywhere between 25% to 100% of the first month's rent, but it is normally 50%.
- How оftеn are inspections made? The response to this question is very important as it is a key element to ensure that the client's real estate investment is properly protected. The property manager should perform inspections at regular intervals when there is a long-term client and not only whenever there is tenant turnover. Inspection intervals may vary; however, it is strongly recommended that units and homes are inspected at least annually. External inspections may be completed quarterly in order to be aware of potential developing issues. Give us a call today to learn about the quarterly inspections that Nesbitt Realty orders.
Market ValuesContact us for an accurate assessment of your property's value at Burges Square. Currently for rent at Burges Square If you need a renter at Burges Square, Julie Nesbitt can help you find the best possible tenants as quickly as possible.
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