Frequently Asked Property Management Questions

  • Are you Licensed?
    Yes, our company and agents are licensed with the Texas Real Estate Commission.
     
  • What credentials do you have?
    Our company has been managing and selling real estate for over 20 years.     
     
  • Is there a management agreement?
    Our management agreement was written by the Texas Association of Realtors.
     
  • Are there up front cost?
    We require the owner to maintain a minimal deposit in the property account.
     
  • Does your agreement give you exclusive right to sell?
    No. You may use another company if you wish to sell your property. However we also offer listings and sales. We're members of the local MLS and can market your property to over 18,000 area Realtors.
     
  • What are your fees?
    Our fees are determined by the property type and number of units owned. We will be happy to discuss these fees  with you.
     
  • When do you mail owner's check and statement?
    Owner’s checks and statements are mailed on or before the 15th of the month. Usually most statements are mailed between the 1st and 10th of the month.
     
  • Can you send my funds to my bank?
    Owner’s funds may be sent directly to any depository the owner chooses.
     
  • What if I want to use my repair people?
    An owner may use their own vendors as long as they meet our criteria.
     
  • Are your repair people employees?
  • No only use independent contractors. This removes the possibility of any conflict of interest that may arise.
     
  • How do I know you wont spend large sums of money?
    You are protected in the management agreement by a set amount that we cannot exceed without owner approval.
    Except in case of an emergency situation, and you will be contacted immediately.
     
  • How do you determine the rent amount?
    Rental amounts are determined by comparative properties in the neighborhood.  We utilize our current inventory information, and information thru the multiple listing service.
     
  • How long will it take to lease my home?
    Homes typically rent between 30-45 days. Condition and market rent also determine the speed.
     
  • How much security deposit do you collect?
    Typically, the deposit is the between 1/2 of month's rent up to an amount equal to one month's rent on single-family homes.
     
  • Who holds the tenant's deposit?
    We hold the tenant's deposit and process the return for you.
     
  • How do you find a tenant?
    We advertise, use signage, webpage, multiple listing and the Internet. We also co-broker with other Realtors in the area.
  • How do you qualify a tenant?
    Resident must meet standards and we verify credit, rental, employment history's  on each applicant.
     
  • What if tenant doesn’t pay?
    Rents are due on the first and become late on the 3rd. If we have not made contact with the resident by the 6th, a 3 day notice for possession is sent to start the eviction process.
     
  • What if the tenant does damage to my property?
    The Resident will be responsible for all damages beyond normal wear and tear.
     
  • How often do you check the condition of the property?
    Interior condition surveys are typically done annually. Other checks may be performed if a vendor notices something “unusual” at the property.
     
  • What happens in a vacancy?
    We survey the condition of the property, obtain bids, and start any preventive maintenance or repairs need. Then marketing for a new resident begins.

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