Management Frequently Asked Questions
Absolutely! Our reputation of being a property management company is built solely on our ability to quickly and properly get any maintenance issues fixed quickly. Our duty to make sure repairs are done expediently also abide by strict Texas State Property Code laws that regulate the timing of making repairs. Repairs are one of the top priorities, and with that said, we send our trusted vendors to the property to ensure the job is done right the first time and for a fair price. This is another reason we avoid using Home Warranty Companies – their contractors are slow, don’t do the job right the first time, and often find additional charges to charge you for because ‘that item wasn’t covered under your policy.’
Unfortunately, our business model does not support contacting every owner in regards to repairs on their properties. Our seamless system as described above allows for a quick response to tenants in regards to their maintenance requests. However, there is a provision in our management agreement that authorizes us to do repairs up to $300 per repair. If it is an emergency or a habitability issue on getting the repair done (replace hot water heater, large AC repair, water extraction, etc.) we will authorize the contractor to get the work done, then information you regarding the cost. This allows an emergency situation to be take care of immediately to reduce damage to property and take care of the tenant. If it is not an emergency and the contractor quotes us over $300, we will contact you for the decision.
Tenants submit their repair requests through our online property management software. This allows them to detail their issue(s), give us up-to-date contact information, and allow us to receive an email with the issue along with a work order automatically being created in our system. This allow us to forward the details to our trusted contractor with their contact information so they can schedule the appointment quickly.
Each time your property comes up for renewal, we will run a comparable market analysis (CMA) to determine what other similar homes in the neighborhood have rented for in the recent past. Similar square footage helps determine the market price, but there are many other variables to consider – time of year, condition of property (condition of flooring, age of appliances, etc.), and other comparable competition in the area.
We are firm believers in pricing properties slightly under market value to attract more tenants and hopefully get your property leased quicker. Nothing cost you more than a vacancy, and ‘waiting’ and ‘hoping’ for a higher rent will cost you every single day.
Quality marketing – more and high quality pictures, and the most exposure to the web help get your property leased quicker. We average approx 15-20 pictures per property to be displayed on our website and MLS featuring every room of the property and unique features that can solicit prospective tenants to your property.
The security deposit is always considered the tenant’s money, from beginning of the lease till the end, we just hold it in escrow. The security deposit is usually slightly more than a full month’s rent. We do not allow owner’s to hold the security deposit, but we do retain it in a trust account for fully accounting.
Our primary means for marketing is with the old-fashioned yard sign and through our local MLS (multiple listing service). Our MLS system syndicates our listings with various rental websites including REALTOR®.com, Zillow, hotpads, Trulia, and other REALTORS websites. 95% + of our leads are generated from our yard signs or REALTOR®.com and co-broking with other REALTORS® through the MLS.
James has been managing residential rental properties since 2005, while Kerrick joined the industry straight from college in 2010.
We use a third-party servicing company, Property Reports On Sight, LLC (PROS), to do the annual property survey. They supply us a PDF report with 80-120 pictures along with 25-50 pages of the pictures and commentary of any defects or issues at the property. This is a terrific way to document the condition of the property while the tenant is occupying it and allows for a non-bias third-party to report any damages, issues, etc.
Please contact James (210-325-7905) or Kerrick (210-870-6053) to discuss our fees.
We manage approximately 100 single-family units. We have a staff of three – James (Broker/Property Manager), Cyndi (Bookkeeping), and Kerrick (Broker Associate/Property Manager).
When searching for a manager to serve your interests, you will have many choices – from companies smaller than ours, to companies managing 800+ units. However, we feel our business model is the most beneficial and serving to our clients. You have your contact person – majority of the time it’s James or Kerrick – and they will know everything going on with your property – leasing, repairs, accounting, etc. We feel our ‘small company’ delivers ‘big results.’
We have setup our systems and business model around having full authority over managing your property, unless there is an issue which can cause a large deduction from your monthly cash flow. We don’t seek communication on the small items and issues that go along with having a rental property. However, we will keep you updated on major events of your rental property – lease renewals time periods, major maintenance items, etc. If you want more communication during the management of your rental property, we can refer you to a property manager who can accommodate your style.
We offer a full service, full authority style of management. While we know our model isn’t for everyone, we provide exceptional service to owners who prefer to sit back and collect their monthly check. We don’t contact you with the small details, issues, repairs, updates, or information about your property, unless it will significantly impact your monthly cash flow.
Just like you hire a stock broker/financial advisor to manage your stock portfolio and make selections on your behalf, we are the professionals who deal with the “issues” of managing a residential rental property. By hiring us you are entrusting us with the management of your property.
The tenant signs the most comprehensive lease agreement in the industry – the Texas Association of REALTORS Lease Agreement. Currently at 16 pages, the lease covers your responsibility as the landlord and the tenants responsibility while they are occupying the property. It covers everything from rent amounts, security deposit handling, repairs, general up-keep, pets, etc. As an owner you will sign the Residential Leasing and Property Management Agreement. This agreement covers our terms and conditions to effectively manage your property.
Residential Property Managers (NARPM®)
James, Kerrick, and Cyndi are Professional members of NARPM®. James and Kerrick hold the Residential Management Professional (RMP®) designation, and are both working towards their Master Property Manager (MPM®) designations. James currently is the Past President of the San Antonio Metropolitan Area Chapter of NARPM®, and Kerrick is the current Chapter President. For more information about their involvement and achievements check out the About page.
Texas Association of REALTORS® (TAR)
Being Texas REALTORS®, James and Kerrick uphold the TAR Code of Ethics in all business transactions they do. James (2012) and Kerrick (2011-current) are also on the TAR Property Management Committee – a committee of 35 Texas REALTORS® that specialize in Property Management who serve one-year appointed terms.
National Association of REALTORS® (NAR)
We also belong to the National Association of REALTORS®. We volunteer in local events sponsored by NAR and invest in NAR to help make the real estate industry better for its consumers.
We manage single-family residential houses along with some duplexes and fourplexes.
Short answer, NO. Long answer, in our opinion, Home Warranty Companies (HWC) offer a great service to an owner or new buyer of a property by taking care of any major repair issues for a nominal service fee charge. However, when it comes to servicing your rental property, repairs are one item that has to be done yesterday. HWC have a reputation for not servicing an issue for many days, sometimes weeks, and in our business of managing your rental property and keeping a tenant in your property, this is the greatest way to damage our reputation as a manager and yours as an owner.