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REALTOR® - DFWProperty Management Questions & Answers

Property Management

Property Management Questions & Answers

Property Management FAQ

 
Property Management FAQ

Frequently Asked Questions



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How long does it usually take to get a house leased?

Currently, our average time (for all price ranges) is 28 days.  Higher-priced homes usually take somewhat longer, and lower-priced homes usually lease a bit faster.

The important factors for leasing quickly include:  location, condition, amenities and price.

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Are there any up-front costs for using your services?

There are no up-front costs. We maintain a bank trust account in which to hold funds for the properties we manage.  Once we receive the first month's rent we deduct $250 from the rent and deposit it into the trust account as "credit" to the Owner. This $250 credit is available in case we need to pay a repairman in advance — as sometimes happens.

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How are repairs handled and who pays for the repairs?

In the management agreement, you're authorizing us to spend up to $250 for repairs that may be required either by the lease or by Texas law.  If something more is needed, we'll contact you before moving forward.

We handle acquirement and scheduling of all service personnel. Your monthly statement will show all such expenses, and you'll be provided with receipts through e-mail in .pdf file format.

The lease we put in place, outlines which party (Owner or Tenant) will pay for repairs in a given situation.

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Who pays the fine if a Tenant violates the HOA rules?

The Tenant is responsible for paying fines or other charges assessed against the Landlord for violations by the Tenant of any Owners' Association rule or restrictive covenant.

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We already have "problem" Tenants - can you help us?

Yes, we can help you.  We would need your authorization to deal with the Tenants.  Such authorization comes through a property management agreement.  Once we represent you, we can notify the Tenants of any lease violations, and can follow-up with eviction if needed.

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How do you handle evictions - and what are the costs?

We always give the Tenant fair and clear notice of a problem before moving forward with
an eviction suit.  As for the process there are four basic steps: 1. The Notice to Vacate,
2. Filing the Suit,  3. Appearing in Court,  4. The Writ of Possession.

The cost varies slightly between counties and depends on whether one or more Tenants
are named in the suit.  Basically the cost is about $100.00 for the suit and an additional $150.00 if we have to get a Writ of Posession to remove the Tenant.

We handle all of these details for you – and we appear in court as your representative.

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Can you guarantee that our house won't be damaged?

While no management company can make such a guarantee, our history of excellent screening has given us a perfect record:  No Tenant caused property damage ever!

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Should we lease our house to Tenants who have pets?

If you don't allow pets you'll eliminate about 60% of all potential applicants. We collect
an additional deposit from the Tenant to encourage their cooperation in controlling pets.

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What are your guidelines for screening the applicants?

We do a very thorough background check on each applicant. In addition to checking basic credit history, we check the applicant's rental history.  Next, we check the Court Records for any previous evictions and/or criminal records. All of this work helps to keep your house and neighborhood safe, and helps you to know the rent will be paid on time each month.

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Can you include a lease provision to prohibit smoking?

Yes!  We always include a lease provision that prohibits smoking inside the property.

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My lawn is important - can you make sure it's watered?

Yes!  We include a lease provision that mandates precise watering standards, yet allows
for variations in accordance with any local watering restrictions.

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How many homes is your company currently managing?

Though we don't share the exact numbers, we manage between 25 and 100 properties.
Numbers alone don't reveal much about a management company only results count.

While some might view the management of 500 properties as impressive, others might
see it as cumbersome, indicating that little attention is given to each property. Likewise some might view the management of only 5 properties as desireable – indicating better oversight of each property. Others might see this as a lower level of activity, experience
and practice.  In reality, quality isn't a matter of numbers within one's property portfolio.

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Do I get to choose the monthly rental rate that's asked?

Yes, you can choose any rate you like.  We'll look at recent market activity in the area as our initial price guide. Then, after touring the house, we can tell you the highest likely rate you can expect.  If you want to start higher, we're willing to offer the house at the rate you choose. The house may or may not lease at that rate... but you can make the choice.

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Can the house be for sale and lease at the same time?

Yes, but the house will be leased long before it sells in almost every case. When offering
a house both "For Sale" and "For Lease" at the same time, it's more effective to use the same real estate company for both offerings.

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When can I expect to receive monthly income checks?

Income checks and statements are mailed-out each month once they become available from accounting.  The goal is for statements to be available for mailing by the 12th - 14th
of the month.  At that time, checks are prepared and the mailing takes place as soon as possible. Ideally, checks/statements are in the mail no later than the 15th of the month.

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Why should I choose your company instead of another?

Many of the so-called property management companies are little more than new real estate people, trying to offer a sideline service. When you deal with DFW Texas Homes LLC you're dealing directly with the Owner of a professional property management company.

Property management is our business, it's not a sideline. DFW Texas Homes LLC provides top quality property management and leasing services, featuring all of the following benefits:

  • Detailed Monthly Financial Records
  • National - Reach Internet Marketing
  • Showing and Servicing 7-days/Week
  • Complete Property Maintenance
  • Professional Document Preparation
  • Improving Sustainable Monthly Rents
  • Our reasonable costs, attention to detail, and premier service standards, set us apart from the typical leasing companies.

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    Call: 817-903-2221

    or


    Contact Us Online


     
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