Management Services and Pricing
Market analysis: We provide a market analysis that reflects current market conditions.
Recommendations: We make recommendations about the property that will attract higher rents and more desirable tenants.
Advertise: We expose your property through our company’s website and the Multiple Listing Service. We are a reciprocal broker which means that a prospective tenant can Find and view your property no matter whose website they are on.
Showings: We are available seven days a week for property showings. We blueprint each prospective tenant during the showing to gather qualifying information and feedback concerning the property.
Applicant Screening: Our applicants our screened for credit, crime, rental and employment history through a national database company.
Property Inspections: We conduct inspections prior to move in, at the six month point of lease and on exit.
Collect Rents: We collect rents when due. We maintain constant contact with tenants who are delinquent and make every effort to work with the tenant when unforeseen circumstances prevent timely payment.
Accounting: We maintain records of all expenses paid and provide each owner an itemized statement each month. We also provide a year end Profit & Loss statement which includes copies of all receipts, monthly statements and a 1099.
Maintenance: We have established relationships with qualified service technicians. Our knowledge and experience in property management and construction enable us to perform required services to our owners’ properties at a discounted rate. Non-emergency repairs are handled within 48 hours and emergency repairs are handled immediately.
Renewals: With the approval of the owner we will re-negotiate a new lease with the tenant. We can provide a new market analysis to determine if a rent increase is necessary. We do not charge for lease renewals.
Evictions: We handle the entire eviction process from posting notice to writ of possession. We do not charge for this service however, any court costs involved are passed on to the owner.
Management: We charge 10% per month of gross rent collected
Lease Fee: We charge a 50% leasing fee.
No fees charged for renewals, evictions, scheduling showings or meeting contractors.
Accounting: We do not require a reserve of money for repairs. We collect rents when due at the beginning of the month and hold those funds in escrow until the 20th of the month. At that point we reconcile your account and send you the balance of rent collected minus management fees and expenses. This format alleviates the need for separate accounting of reserve funds and prevents commingling of owner and property manager funds.
Repairs: We work with each owner on an individual basis. Some owners require more information than others. We will communicate all repairs requested or required. As the business relationship between owner and property manager matures, we can modify the need for constant communication as desired by the owner. We can accommodate any of your needs. Our property management agreement gives the property manager authority to make necessary repairs to the property. However, the amount a property manager can spend on each repair can be limited to by the owner to a specific dollar value. Typically, the amount I enter in a property management agreement is $250.00 but this is certainly negotiable.
Door Locks: We follow the Texas Property Code rules concerning safety device on doors. The code requires the following: 1) each exterior door leading into the house be equipped with a keyless bolting device, 2) each door leading into the house must have a door viewer. If a door has a window in it then this requirement is satisfied, 3) all doors must be rekeyed within 7 days after a new tenant moves in.
Maintenance: Often times we received new properties that are vacant and need repair. Vacant properties need to have their lawns maintained to avoid fines from the city. While vacant we perform the minimum of lawn maintenance to prevent these fines while maintaining good curb appeal.
Utilities: As mentioned in the maintenance paragraph above, we often receive new properties that are vacant and need repair. In order to perform maintenance and repairs while vacant and showing the utilities must be on. Utilities will be turned off prior to tenant move in but owners must be aware utility bills can arrive after a tenant moves in.
Insurance: We require the owner to name us on their insurance policy for the property. This does not increase your policy rate it just names our company as an additional insured. Please consult with your insurance agent concerning this.