Investor FAQ

As the investor of the company as well as a real estate investor, I have always found it hard to justify when property managers add a surcharge to the investor’s maintenance needs. Our policy is we work hard to partner up with great vendors that provide a great service at a reasonable price. In short, we do not mark up or take kickbacks from our maintenance vendors. By holding to this philosophy, we have found we get the best rates and timely service and that benefits not only the investor and resident but this company as well. Good service means lower turnover from our residents. By the way, each and every invoice we receive on your behalf will be emailed to you. Remember, I am an investor also and hate last-minute surprise maintenance bills.

When an individual rents a car or takes a mortgage on a home, they are required to either provide proof of insurance or purchase insurance from the investor’s company to make sure their asset is protected. Why would someone allow a “stranger” to occupy one of their biggest assets and not require the “stranger” to provide insurance coverage to you the investor? PURE Property Management of Texas has purchased a master insurance policy to protect the investor from accidents that might occur on their rental property. Not only does this policy provide up to $100,000 protection to the investor’s asset but it also provides a $20,000 renters insurance plan for the resident’s coverage of their content. Partnering with our insurance carrier allows us to offer better coverage for our investor clients.

NO! If you own rental property, then over a period of time, you will have problems of one kind or another. Whether the problems are related to maintaining the property or dealing with the resident, there will be problems that need to be resolved. Retaining PURE Property Management of Texas, LLC to manage your property will eliminate some but not all potential problems. Based on our years of experience and familiarity with the Texas Property Code, we work with you in providing options and exploring all alternatives to correct problems as they arise.

Our experience will help reduce the number of problems related to rental property. Those problems that cannot be avoided, must be solved. Our expertise will help reduce the aggravation and potentially higher expenses related to solving these problems. We are unable to keep all bad things from happening, but we can handle solving the problem for you so that you do not have to handle it yourself. We work together for the best-case resolution.

The better the condition your house is in, the better quality resident it will attract. Your home must be left in the professionally cleaned condition. Your Property Manager prefers to arrange this cleaning to ensure that the cleaning guidelines are strictly followed. The carpets must be professionally cleaned, and all debris and personal belongings removed from the house.

It is not necessary to paint, but you should consider painting any room that has dirty or marred walls. A neutral color is best. Your Property Manager will be happy to discuss any necessary repairs or painting with you. Neutral window coverings such as blinds should be left, preferably not curtains. Residents moving into a rental property do expect some sort of window coverings to be provided for privacy and safety. There should be no items stored in the property, including attics, basements, storage areas, etc. We recommend that you do not leave a washer and dryer unless it is a stack unit or an unusual size. It is typical in our area for all kitchen appliances, including stove and refrigerator, to be provided.

The residents are required to maintain the yard in the condition it is provided to them. Therefore, the yard should be freshly mowed, weeded, trimmed and the leaves and debris removed.

Most likely yes. Every year, we take over many properties with existing residents. Our office will need to review your current lease with the existing residents to ensure it is compliant with the Texas Property Code. The switch is easy and we handle all the communication and coordination to ensure your resident has an easy transition.

Not at this time but give us a call and we will be happy to refer you to several local property management companies that do.

Recently the penalties for any delays in returning a resident’s security deposit have increased substantially. In order to protect our investors’ interest, all resident security deposits are placed in a trust fund. This fund is subject to audit by the State of Texas. PURE Property Management of Texas strictly adheres to trust fund compliance regulations as it is not only the law, but it is simply a good business practice.

Our business model and expertise does not allow us to manage furnished properties

Inspections are an important and necessary part of property management. It is always important to balance the need to survey the condition of the property with the resident’s right to the peaceful enjoyment of their home. Too few, and minor repairs may become major, too many, and the resident fails to renew because of the constant disruption of property surveys.

Our office will conduct a thorough property survey prior to a resident taking possession of the property. The purpose of this survey is to document the condition of the property. You will receive a copy of this report with multiple photo documentation for your review. We offer several options regarding property surveys. Our office recommends that an additional survey of the property take place two to three months prior to the resident’s renewal date. This survey will document the current condition of the property and allow the investor to make an informed decision regarding renewing the existing resident. (Sample Survey). A second option that appeals to some investors, is a first survey conducted approximately during the first 90 days a resident takes possession and at approximately 9 months into their lease prior to renewal. The final move-out survey will be conducted at the time the resident vacates the property and will be used as a comparison with the original move-in survey for the final disposition of the resident’s security deposit.

No, we are a performance-based company. We make money only when you make money. When your property is vacant and not earning a return, we are working diligently to secure the best resident.

Our office has a 24 hour personally answering the emergency maintenance line. After hours, resident’s calls are automatically forwarded to our 24-hour emergency maintenance line. The operator answering the phone is an actual maintenance employee, therefore qualified to deal with emergencies immediately. First, a determination would be made if the call is a true emergency nature. Some residents believe an emergency is any maintenance request they demand to have repaired immediately. If it is determined the request is not a true emergency, the request would be scheduled for regular business hours, meaning no overtime needed. If the determination is that the request is a true emergency, our staff would dispatch the appropriate vendor to address the issue.

Your investor’s reserves account is a fund that PURE Property Management of Texas uses to pay for maintenance repairs or utilities during a vacancy as they arise. This account is reimbursed with rental income each period to ensure the balance remains at $350.00. These funds are returned to you at the end of our business partnership.

PURE Property Management of Texas, manages single-family homes, townhome, condominiums, along with several four-plexes. We will not manage properties with pools or hot tubs. Additionally, we will not work with investors that refuse to even do the smallest amount of maintenance issues and repairs.

First let’s clarify, an investor purchases a brand new home with a new home builder. Will PURE Property Management of Texas work with the new home warranty department? Absolutely yes! Next part of the question, specifically, will we work with a third-party warranty company, yes but … investors, especially first-time investors need to have a clear understanding that the home warranty company is not subject to the Texas Property Code. It is our experience when using a home warranty company our maintenance department has found it takes an average of 12 telephone calls to get the maintenance issue resolved. Additionally, there always seems to be a reason that the company will not correct the issue or will do so only if the investor pays an additional charge to correct a “pre-existing” issue. While all of this is taking place, your resident has an on-going maintenance issue. Keep in mind, Texas Property Code gives very specific timelines for completion of work. Poor or delayed maintenance issues can have a tremendous effect on resident retention. 46% of residents say maintenance was a factor in renewing a lease. While 31% of the residents state maintenance was the reason for not renewing a lease.

Yes, we will work with you if you have a Home Warranty company. Please keep in mind two factors when deciding if a warranty is worth the expense. First, for each incident (not call) but incident that we have to use your home warranty, our maintenance department will charge you a $25.00 fee. (Keep in mind the average of 12 calls it takes to handle a warranty maintenance issue.) Second, in the event that the delay in correcting the maintenance issue places you the investor in a potential lawsuit, our maintenance department will override and dispatch one of our preferred vendors. If the air conditioning goes out and the Home Warranty company can not resolve the issue, our maintenance department will take corrective action. These corrective actions might be calling one of our vendors to correct the issue or it might be placing A/C window units to ensure the safety and well being of the occupants.

Use our Free Rental Analysis to find out how much rent you can get for your investment.

The right rental price will ensure fast resident placement. Our goal is to earn you as much money as possible in rental income. We also realize that a vacant property earns nothing. Let us help you balance earning as much as possible by making your price point attractive to prospective residents.

Contact us about the local rental market and what kind of rents are possible.

The lease is a legally binding contract. A small percentage of residents will break their lease due to unforeseen life events and some will simply make the poor decision to leave before fulfilling their lease. The resident is responsible for rent through the entire term of the lease. If they are forced or choose to leave prior to the termination date, they will be charged for all of the following; a) all rent, unpaid fees and other non-rent charges accrued prior to the date that Owner/Agent knew or reasonably should have known of the abandonment or relinquishment of the unit, b) all damages relating to the condition of the unit, c) an early termination fee in the amount of one month’s rent.

Texas Property Code states the Owner/Broker must place the property back on the market as soon as possible to mitigate the resident’s charges.

Our office is open Monday- Friday from 9:00 – 5:00. Telephones are personally answered during this time and voice mail is available all other times. In addition, a maintenance vendor and a staff person are on call 24 hours per day, 7 days per week to handle emergency situations should the need arise.

We do not enter the property and recommend the investor not enter the property except in emergency situations or when repairs have been requested by the resident. PURE Property Management of Texas. will conduct interior inspections of the property either once or twice per year depending on the inspection option you chose. The report will show many photos of the interior and exterior of the property. History has shown that repeated disturbances prompt residents to become unhappy and not be as willing to renew their leases. We usually try to give the resident 24 hours notice before we enter unless it is an emergency situation.

Our standard lease requires either party, landlord or resident to provide a 45 day written notice. Approximately 60 days before the expiration of the resident’s lease, our office will contact you and make recommendations regarding rental rates and guidance on renewing the resident. Most property management companies raise rental rates and renew residents’ leases without seeking input from the investor. This is your property and we feel it is a better partnership when you are involved.

We do not enter the property and recommend the investor not enter the property except in emergency situations or when repairs have been requested by the resident. PURE Property Management of Texas. will conduct interior inspections of the property either once or twice per year depending on the inspection option you chose. The report will show many photos of the interior and exterior of the property. History has shown that repeated disturbances prompt residents to become unhappy and not be as willing to renew their leases. We usually try to give the resident 24 hours notice before we enter unless it is an emergency situation.

Occasionally, a large expense arises that requires the owner to send funds prior to the work being started. Our office has a process to accept either an ACH or credit card payments. Contact your property manager on this easy process to transfer funds.

We do not pay clients mortgages. We will pay your HOA dues if you request, the request must be made in writing and all dues are paid in the first two months of the year. We will only pay a full year HOA dues and will not pay those that require a monthly or quarterly payment.

It is our policy to prohibit smoking indoors of all PURE Properties.

It’s your property, and yes you can restrict pets, however, nationwide the percentage of residents with pets is very high, and in “pet-friendly” Central Texas, it can run as high as 80% of all residents. Being open to pets does make your property available to more potential renters. Statistics have shown residents with pets have a longer residency than those that do not have pets. Additional deposits, weight and breed restrictions do apply. To protect your asset and to enlarge the pool of prospective residents which directly benefits you, PURE will guarantee that any damage caused by a pet we approve will be covered up to $1,000. However, if you feel very strongly about this issue, we will agree not to advertise or show your property to anyone with a pet. Please be aware that it is not reasonable or possible to monitor resident pet restrictions on a daily basis. Additionally, pet restrictions per Fair Housing Guidelines do not apply with ESA or Support animals.

The lease is a legally binding contract. A small percentage of residents will break their lease due to unforeseen life events and some will simply make the poor decision to leave before fulfilling their lease. The resident is responsible for rent through the entire term of the lease. If they are forced or choose to leave prior to the termination date, they will be charged for all of the following; a) all rent, unpaid fees and other non-rent charges accrued prior to the date that Investor/Agent knew or reasonably should have known of the abandonment or relinquishment of the unit, b) all damages relating to the condition of the unit, c) an early termination fee in the amount of one month’s rent.

Texas Property Code states the Investor/Broker must place the property back on the market as soon as possible to mitigate the resident’s charges.

Selecting the right resident is a critical part of property management. Resident selection is often softened when an agent is looking for a quick commission or an investor is desperate to place a resident due to a longer than expected vacancy.

One of the most important aspects of making your experience as a investor rewarding is placing the right resident in your property. Once we have an application generated from our marketing efforts, we conduct a detailed background check on the applicants. Some applicants can be very deceptive, even to the point of having friends or family members pose as former investors or employers so that the information sounds good to the investor conducting the background check.

PURE Property Management of Texas, LLC. has a stringent minimum rental selection criteria. Applicants must submit photo ID’s, and undergo a thorough background investigation which includes full criminal history, residential/investor history, credit review, paystubs for verification of income and employment, and a Homeland Security check. Once the applicant meets our minimum criteria, our office will contact you with our recommendation, and to obtain your final approval. Our office follows all the guidelines of Fair Housing, and you will only be provided with pertinent information to make an informed decision. Our office will make a recommendation; you will make the final decision. A thorough background check is crucial to avoid costly mistakes with your property. A bad resident can be a very expensive ordeal due to lost rent, extra time spent having to deal with them, and damage to the property. While no background check can eliminate the risk of a problem resident, our thorough examination of their rental history can significantly reduce your risk. PURE is so confident in our screening process that we offer our leasing guarantee that other than those situations required by law, in the event a resident does not complete the first initial year of residency, you will not be charged a second leasing fee.

Our office is open Monday- Friday from 9:00 – 5:00. Telephones are personally answered during this time and voice mail is available all other times. In addition, a maintenance vendor and a staff person are on call 24 hours per day, 7 days per week to handle emergency situations should the need arise.

It’s your money and we take it seriously. One of the most expensive times for any investor is when the property is vacant, or a resident has not paid. Rent is due in our office on the first of each month and considered late at the close of business on the third. Residents that have not contacted our office and entered into an agreed-upon payment plan prior to the rental due date are considered late. On the fourth, each late resident is sent a Notice To Vacate the property. The Notice to Vacate is the first step in the eviction process and legally notifies the resident they have three days to pay the past due rent or vacate the property. Most residents contact our office and pay immediately upon receipt of the Notice to Vacate. In the event a resident still has not paid, our office will notify you that we will file on your behalf with the Justice of the Peace for a formal eviction hearing.

Our office averages less than 30 days to formally move through the eviction process. Our intention is first to collect rent, but in the event that is not possible, we act swiftly on your behalf, filing all necessary documents and paying court fees, appearing before the Justice of The Peace, obtaining a favorable verdict, filing for a Writ of Possession, coordinating with the precinct Constable and the physical removal of the resident and all possession from the property. The process can be costly.

It is standard for the Eviction Protection Plan to be included with our property management agreement.

Our company has purchased a master insurance policy that not only covers up to $100,000 in resident liability to protect the investor’s property but a $20,000 policy to cover the resident’s contents. Residents may opt-out of this plan by providing proof of insurance by another insurance carrier. If a resident fails to provide proof of insurance, it is mandatory that they are automatically enrolled under our master policy.

PURE Property Management of Texas is a performance-based company. That means we do not collect any funds until we have earned them. Management fees are deducted from your monthly equity distributions. In short, we deduct our fees only when you are getting paid. No rent collected due to a vacancy, no fees collected for management services.

PURE Property Management of Texas does not charge any start-up, administration, or upfront fees.

We do not enter the property and recommend the client not enter the property except in emergency situations or when repairs have been requested by the resident. PURE Property Management of Texas, LLC. will conduct interior inspections of the property either once or twice per year depending on the inspection option you chose. The report will show many photos of the interior and exterior of the property. History has shown that repeated disturbances prompt residents to become unhappy and not be as willing to renew their leases. We usually try to give the resident 24 hours notice before we enter unless it is an emergency situation.

Just as in sales the leasing market does have some seasonality. If you think about it, it makes sense. Summer months are very busy with the build-up towards August and the start of school. September usually slows down or at least feels like it after the summer rush. What surprises most investors is that November and December are usually very busy also with January being a slower month. Now with all that being said, PURE Property Management of Texas lease properties each and every month of the year. The influx of out of state relocations continues to drive the rental market. The almost weekly announcements of entire company relocations from high tax states in addition to the appeal of live style or weather continue to the central Texas strong growth pattern.

It normally takes less than 30 days to lease a property. We require our existing residents to provide a 45-day notice when they are vacating a property. Once we have received the residents’ notice, the property is placed on the rental market usually within 48 hours. Our objective is to reduce vacancy time by securing a qualified resident prior to the existing resident vacating the property.

Properties are entered into the Central Texas Multiple Listing Service advertising to over 6,000 participating realtors. Both interior and exterior photos along with a complete property description and community amenities are advertised on multiple websites. Each vacant property will have a complete video tour allowing potential applicants an opportunity to see the property 24/7.

Market conditions vary and we can not make any guarantees, but through weekly communication, you will receive an accurate picture allowing you to make any needed adjustments to rent your property for the most amount of money in the shortest time frame.

None, we are a performance-based company. We make money only when you make money. When your property is vacant and not earning a return, we are working diligently to secure the best resident. Disclaimer- If you have selected the pricing plan that includes Surevestor, that charge will be due each month during a vacancy.

Our standard lease requires either party, investor or resident to provide a 45 day written notice. Approximately 60 days before the expiration of the resident’s lease, our office will contact you and make recommendations regarding rental rates and guidance on renewing the resident. Most property management companies raise rental rates and renew residents’ leases without seeking input from the investor. This is your property and we feel it is a better partnership when you are involved.

Duplexes and single-family homes are usually the responsibility of the resident unless an investor has decided to retain the services of their own landscaping company. Investors are responsible for the tree trimming as it limits the liability of residents on ladders and preserves the value of the trees along with preventing damage to roof lines.

Maintenance is an on-going concern in property management. We have found that success comes through good communication and rapid response. We have partnered with a company that has reduced maintenance coordination time by 60% and increased resident satisfaction by 87%. When a resident submits through the Property Meld system the work order is reviewed by a technician who first tries to troubleshoot virtually. (Issues such as resetting garbage disposal or a GFI switch). If the issue can not be resolved, the technician and resident can via shared calendars set and agreed upon appointment within minutes of the work order being submitted. If an issue is over $350 you are notified and consulted with recommendations on what approach to take.

PURE Property Management of Texas offers a once per year opportunity when our bookkeeping department will pay your HOA dues. At the beginning of each year, we notify each client that owns properties in subdivisions with HOA if they would like us on their behalf to pay the entire HOA dues for the year. Many investors have taken advantage as it does simplify bill payments and recording keeping as the entire yearly HOA fee is recorded on your yearly statement for tax purposes. We do not pay monthly or quarterly HOA dues on your behalf.

It depends. If you wish for us to market the property for a prospective resident, run a complete background and draw up the lease, and you are going to self manage, the charge is 100% of one month’s rent. If you are hiring us as your property manager, the leasing or resident procurement fee is 80% of one month’s rent. For more than 3 properties, discounts may apply.

The short answer is no you cannot be part of the screening process. The issue is ever-increasing and stringent rules regarding Fair Housing and Fair Credit Reporting Act. We understand you have concerns about the risk and potential damage residents potentially might do and believe us we do also. That is why we have created a screening criterion that is as stringent as the law allows. One of our responsibilities as property managers is risk mitigation on your behalf and the first area we mitigate is resident selection and screening. Once our applications department has screened a resident and they meet with our requirements you will be notified and make the final approval. We are so confident in our screening process that we offer you our resident guarantee-if a resident we approve does not fulfill the first 12 months of their lease, we will pay the full leasing commission to secure a new resident. This guarantee assures that you will never pay more than one leasing commission in the first 12-month period. (Guarantees excludes those residents as prescribed by law).

Your investor’s reserves account is a fund that PURE Property Management of Texas uses to pay for maintenance repairs or utilities during a vacancy as they arise. This account is reimbursed with rental income each period to ensure the balance remains at $350.00. These funds are returned to you at the end of our business partnership.

Great! Contact our office and we will get the ball rolling. If your property is vacant and rent ready, we can have it on the market in as soon as 48 hours. If you are trying to tie up some loose ends before putting it on the market sooner versus later, we can start our pre-leasing process and have all the documentation ready for when it fits your schedule.