Why should I refer you, investors, for management?
Let us count the ways...
- We are a full-time Property Management Company meaning this is all we do. Professional property management is not a sideline or supplement to our bottom line, it’s our full-time job.
- We know the law, we live it day to day and are always in educational classes to not only stay current but watch for what’s changing in the future.
- We always give your clients back when it’s time to sell or make their next investment purchase.
- We pay referral fees!
- Our goal is to make you look good for referring us. We work every day keeping in mind your owner’s investment goals.
- Over 25 years of real estate experience and 14 years in full-time property management mean we are here for the long haul.
- Look at our guarantees, your owner is never trapped in a long term contract with PURE Property Management of Texas, and we guarantee it.
Can I list the property for lease and have PURE Property Management of Texas manage the property?
Absolutely. You list the property, use our link for applicants to apply, we fully screen the residents, make a recommendation to both you and the owner, once approved, we draw the lease and coordinate move in. You pick up your sign and lockbox then update MLS and look forward to receiving your lease listing fee. It is that easy.
Do you pay a referral fee?
Yes, we pay a $750 referral fee for each investor you refer to our company for full-service property management.
How do I know I get my clients back?
A couple of ways, first ask around, agents in our community will verify that their clients return to them when they're ready to sell. Second, drop by our office and see for yourself. Each client that has been referred to us over many years in business has the referring agent name and contact info listed with the client's contact information. Last, we place a disclaimer on each and every management agreement that states the client is not restricted from using any agent they chose when leasing or selling their property.
I have Do It Yourself landlords that call me and ask for advice, how can I help them?
All of us are in a service business, but either because of legalities, lack of experience, or proper time management, we cannot assist some of the do it yourself, investors. No problem, we get it. First, direct them to this website to the Do IT Yourself resource section that has many of the needed forms to assist a Do It Yourself landlord along with an extensive FAQ page. If either of these two resources doesn’t help, call our office to brainstorm some possible solutions. We always want you to look good to your clients.
When do I get paid?
When you refer an investor to us for management, you will be sent a referral check the first Thursday after a resident has been secured and paid their first month’s rent. If the property is transferred to us with an existing resident, a referral check will be placed in the mail the following Thursday.
I am representing a buyer (or seller) on a property with an existing resident. What should I be aware of during this transaction?
Unlike, residential sales, when you are representing a buyer or a seller of investment property you must be aware of short term and long-term pitfalls. Several of these pitfalls can easily run into thousands of dollars down the road. Check out our agent resource page for the several checklists that will potentially save your client time and money and make you look like the expert in the transaction.
What is the resident selection Criteria and why is important?
Let’s start with why it is important first. IT’ S THE LAW! Texas Property Code states you must make available to all prospective applicants a screening criteria. Second- it’s because it is the fair and right way to treat people. Prospective residents pay A LOT of money when applying for a property. If they have little or no chance of qualifying for a property, tell them to save the money. The resident Selection Criteria lays out specifically the basic requirements to rent a property. Do your job, and always provide the criteria BEFORE submitting an application.
Can my client reject an applicant that states they are a smoker?
Absolutely! Smokers are not a protected class.
Why should a resident have Renters Insurance?
Yes, one of the simplest reasons is that the landlord’s insurance most likely will not cover the resident’s belongings. Additionally, smart landlords require residents to provide liability coverage to protect the property in case of an incident.
Do I have to have a Key box authorization signed by the resident before I can list the property for sale or lease?
Residential Lease- Paragraph 14 Sec. D1 provides authorization to place a keybox on the property.
If a resident has not paid rent, does my client have to make repairs?
Technically no they do not. The Texas lease states repairs are not required to be completed until all rent has been paid. Let’s get in the real world. All safety and habitually issues need to be repaired regardless if resident is current on rent. Our philosophy is the work is going to be done anyway and we work for the owners, so get it done.
Whose responsibility is it to maintain smoke detectors?
It is the responsibility of the landlord to insure the property is meeting fire code prior to the resident taking possession. Smoke detectors, including batteries are the responsibility of the resident during the duration of the lease.
When should the resident expect to receive the security deposit?
If the resident has provided proper notice by providing a forwarding address, returning all keys, openers, and has vacated the property, the landlord must have a full accounting of all expenses and any and all of the security deposit placed in the mail no later than 30 days.
The resident vacated without a forwarding address. What does the landlord do about the security deposit?
Our office recommends the Landlord, mail the security deposit via certified mail to the residents last known address. (which is the address of the vacating unit). The letter will either be forwarded to the new address or returned to the landlord showing proof that the landlord met the requirements under the law.
When can a resident legally be released from a lease?
Resident may qualify to early terminate as they have special statutory rights- Military, Family violence, Sex Offenses or Stalking are all legal reason to early terminate a less without penalty.
My buyers found the perfect house, but they are currently in a lease.
Congratulations and good for them (and you). Standard Texas lease states that the resident is still responsible for the remainder of the lease, including payment of rent, utilities, and lawn care. Check your clients lease as it should provide specific requirements for vacating the property. It usually means paying a re-letting fee, continuation of rent payment until a new resident has been procured.
Who pays the HOA?
Standard procedure is the HOA payment is the responsibility of the property owner.
Who pays the utilities?
Unless otherwise noted, the assumption is and the lease states, the resident is always responsible for utility payment.
How long should a guest be allowed to stay?
We have seen 7 days up to 15 days. The purpose of putting a time limit is to allow the landlord to have control and help prevent unauthorized occupants. Keep in mind, the resident may always request additional days and most landlords would agree. The key is having the residents make the formal request (in writing) and getting the landlords approval (in writing).
What should I charge for an NSF?
The courts have ruled that NSF charges must be “reasonable”. What does that mean? Here’s a good tip. Look at your local merchants to determine what they charge for an NSF check. You can reasonably argue they have set the community standard and go with that number.
How much should I charge for late fees?
Late fees vary from area to area. Some landlords use a percentage rate while other use a daily fixed number. The key to late fees in the state of Texas is that for buildings that have four or less units, the maximum amount charge may not exceed 12% of the total monthly rent.
What is a resident holdover?
When a lease comes to the end and the resident fails to vacate the property the resident is in a holdover position. The Texas Residential Lease states the resident is subject to a charge of three times the daily rent per day, cost of lodging, cost of eviction and attorney’s fee’s if needed.
When should the Inventory and Condition Report need to be returned?
No real right or wrong answer- we have seen 2 days (that’s us) to 30 days (others that don’t know what they are doing). The key here is that we prefer to get it back sooner, as it makes the resident give a real assessment of the property before they are really living in it and possibly doing more damage.
What is the charge for a trip fee?
Trip charges vary by area. To determine the one for your local area, contact a local service vendor and inquire what their current fee amount as a suggested fee for your firm.
Who is responsible for changing the air filters?
Apartment complexes routinely change residents air filters. Not so in single family properties. It is the resident’s responsibility to change air filters for the duration of the lease.
When should the locks be changed?
It's comforting to new residents when they actually see new locks being installed. Under the Texas property code, locks must be changed within 7 days of a new resident taking possession of the property.