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Q: How is my property marketed?
A: We will place a For Lease sign at your property when your property is ready for lease. We advertise with the Austin Board of Realtors using a multiple listings (MLS) platform. We advertise your property on the company website and with syndication websites such as AustinHomeSearch, Realtor.com, Zillow, Trulia, Hot Pads, Facebook Marketplace, Austin Real Estate Network, for maximum exposure. Please note that we have no control of how your property is marketed on these sites.
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Q: Is there a charge to rent my property?
A: You will be charged 75% of a full month’s rent so that the Realtors who assisted us in leasing your property receive a
commission. The Realtors have shown your property to the new tenant, worked with us as liaison during the application and
move-in process, etc, and must be compensated for their work.
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Q: What if my property needs work before it can be leased? Can you help with that?
A: We certainly can. We work with a number of independent contractors – they are not staff members –
who can provide you with a “make ready” bid. And these contractors guarantee their work.
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Q: How do you determine the rent amount?
A: Carefully reviewing data obtained through the MLS of the Austin Board of Realtors (ABoR), we do a detailed comparative market analysis of the rental rates of similar properties based on square footage, number of bedrooms and baths, and in the same and nearby neighborhoods. We price your property to be competitive with the market to attract a well-qualified tenant.
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Q: How do you screen applicants?
A: We work with TransUnion SmartMove to obtain a current credit report and background check on every
occupant over the age of 18. We also confirm income information for the past 60 days to ensure the income
to rent ratio is 3:1. In addition, we will verify rental history or mortgage payment information to confirm
the applicant has been prompt with payments in the past.
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Q: What is the deposit?
A: Typically we require a security deposit equal to one month’s rent, which is held in our escrow account. An applicant may be required to pay additional deposit based on our Qualification Criteria.
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Q: Do I have to allow pets?
A: You can certainly make your property pet-free. However, it can significantly limit interest in the property given that many people have a dog or cat. By collecting a pet deposit, risk is reduced. We look to pet ownership as an important factor, not only the animal. Note that under the Fair Housing Act and the American with Disabilities Act, you must accommodate tenants with service animals and comfort animals. In this case, you cannot require a pet deposit/pet rent/pet fee. For comfort animals, you can though ask for documentation that the tenant has been “prescribed” a comfort animal and the animal has been properly trained. If the tenant cannot provide the documentation, you do not have to allow the comfort animal at your property.
With your approval, we allow up to two pets at the property. According to the lease, a pet is a mammal, reptile, bird, fish, rodent, or insect. For dogs, we limit the weight to 35 lbs. We do not allow aggressive breeds as stipulated in the Qualification Criteria. A $350.00 refundable pet deposit per pet is required.
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Q: Do I have a say in who leases my property?
A: Absolutely. While we cannot provide you with the detailed information we obtained in our applicant screening,
we will provide you with a summary of that information and make a recommendation. You will actually determine
who will rent your property.
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Q: When do I receive my rent money?
A: Based on collected rent, your owner draw (rent less management fee less any property expenses) is initiated for deposit direct to your bank by the 10th of each month, and often sooner. You will also receive a monthly rental owner statement.
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Q: What happens if the tenant does not pay the rent?
A: If the tenant has not paid the rent by the the grace period (3rd) the tenant will receive a late rent notice. If the tenant continues non-payment of rent, and has not made payment arrangements, we take the appropriate measures to collect it. We will contact you for approval to file for eviction if necessary. This has happened only one time in our history.
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Q: And if we have to evict the tenant, how do we do that?
A: We will first complete the required paperwork and file it with the courthouse. We will
then appear on your behalf on the court hearing date. Assuming there are no additional
delays, we will receive a judgement in our favor. The tenant will have five days to pay the
judgement or we will file for a writ of possession. Once the writ is issued, a law enforcement
officer will execute the writ and give possession of the property back to us for you. We will
confirm the tenant’s personal property has been removed and will re-key the property.
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Q: Can I visit my property while a tenant is living there?
A: Certainly. According to the lease, the landlord can enter the property at reasonable times and without
attempting to contact the tenant and without notice to review the property’s condition. However, please
contact us first and we will inform the tenant when you will be at the property.
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Q: Will I know how the tenant is taking care of my property?
A: Definitely. As part of the services we provide, we will inspect your property at the minimum annually, before & after each occupancy, and before lease renewal. We want the tenant at the property during the inspection. We will make available the inspection report that includes pictures and comments.
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Q: What do I do if I receive an HOA violation?
A: Notify us immediately. If the violation is within the tenant’s control, e.g. mowing the grass, we will contact the tenant. If you would be responsible for correcting the issue, e.g. power washing the exterior, we will need to dispatch a contractor. We want to eliminate future violations and/or fines.
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Q: What about repairs?
A: According to the lease agreement, the tenant must submit all maintenance requests at their resident portal, easily accessible from our website. The request, communications, work order, and billing systems are integrated in the Buildium management program for maximum efficiency, allowing us to track the status of a service every step of the way. If a request is approved, we will dispatch one of our excellent contractors to the property. In the case of a repair greater than $300.00, you will be contacted for approval before starting the work.
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Q: Can I use my own contractor?
A: Yes, you can but please let us know that you might want to do that. You will also need to
make arrangements to pay the contractor. We encourage you though to let us take care of the
repair We will send the best contractor for that particular repair. And remember our contractors –
they are independent contractors and not staff members – guarantee their work. We retain
all the communication between the tenant and us and between you and us. And we will have a copy
of the bid, if one was submitted, and a copy of the invoice for the completed work provided by the contractor.
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Q: How do you handle lease renewals?
A: Approximately 75 days before the current lease expires, we will contact you regarding lease renewal. We will provide you with the current market rent rates for properties similar to yours and make a rent rate recommendation. Based on this, we will proceed to deliver a lease renewal offer to the tenant, after learning if the tenant wishes to renew.
Let us know soonest if you do not wish to renew the tenant’s lease. We must provide the tenant with at least 60 days’ written notice.
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Q: If the tenant does not want to renew the lease, what does he have to do?
A: According to the lease, the tenant must provide at least 60 days’ written move out notice. Once we receive tenant notice, we will contact you with next steps.
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Q: How do you handle a tenant move out?
A: The tenant is to leave the property in the same condition as it was at move-in, normal wear & tear excepted. Tenants are required to have the property professionally cleaned (including carpets if applicable) by our approved vendor. We will schedule re-keying the property and the make-ready to lease as soon as possible.
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Q: What about the tenant’s security deposit? Is it automatically refunded to the tenant? What if the tenant has damaged my property?
A: Upon tenant move-out, we will begin making the property ready for re-leasing. We will carefully note any items for which the tenant is responsible, and make recommendations for any improvements you may wish to make. We will send the tenant a deposit disposition within 30 days of move-out, identifying any charges for which the tenant is responsible, and issue the deposit refund.
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Q: How soon after a tenant moves out will you re-lease my property?
A: Once the contractor confirms the work from the make ready bid is complete, we will list your property for re-leasing.
