Owner FAQs
What needs to be done to prepare a property for rent?
The property should be in the best possible condition to attract a quality resident. Paint should be in good shape with marred or dirty areas touched up. Neutral colors for walls and floors are best. Blinds or shades are ideal window coverings. The home should be “detailed” clean and the yard in excellent shape.
How do I determine the rental amount?
The competition determines the rental amount. As experts in the field, we know the market and the competitive rental ranges for your home. If the home is marketed too high the home will be vacant much longer. If it is marketed too low, it may be one or two years before the price becomes competitive again.
How do we market the property?
The property is immediately added to our rental availability list, web sites, LMS and other resources. A sign is placed and marketing photos are taken
How long will it take to rent?
Vacancy periods are market driven. There is also some luck involved in the right person looking at the right time. On average, in today’s Austin market, it takes between two to eight weeks to rent a home. Homes rent more slowly between Thanksgiving and St. Patrick’s Day. Location and price effect vacancy.
What are the policies regarding Pets?
Statistics indicate that 75% of renters own pets. Restricting pets reduces the number of available qualified residents. Pets should be screened and pet references checked out. In general, a well-behaved cat or dog causes less wear and tear on a home and yard then a young child.
What about smokers?
It is common to restrict smoking inside the property. This does not significantly reduce the marketability of the property.
Is it possible to refuse to rent to families with children?
In federal, state, and local Fair Housing regulations children come under the protective class of “familiar status”. It is unlawful to discriminate against children in any way.
What happens if the rent is late?
The rent is due on the first of each month. We begin collection proceedings after the fifth of the month. We will contact the tenant to determine the reason for not paying. We have the ability to make concessions for tenants if they have a viable reason for not paying on time. We will begin the eviction process if we are unable to communicate with the tentants. Most evictions are the result of loss of employment. All late fees collected will be retained by us for our collection services.
When are monthly funds distributed?
The payments to owners along with statements are processed between the 9th-13th of the month. You should receive your funds during this period along with your monthly statement. We can receive your monthly proceeds via ACH or by paper check. We can receive your monthly statement via email or mail.
Who handles emergencies?
A staff member is always on call for emergencies. We have an extensive network of maintenance personnel and sub-contractors to handle any emergency on your property, day or night. We are on call 24 hours a day 365 days a year.
What is the average length of tenancy?
Over 95% of rental agreements are for one year. Other agreements range from six to eighteen months.
How are repairs handled?
Residents are encouraged to submit all repair requests via email or by phone. Emergencies are scheduled immediately and the owner notified at the first possible opportunity.
What happens if the resident leaves before the end of the lease?
The resident is responsible for the rent for the term of the lease. If residents leave before the termination date they will be charged for rent until the home is re-let. We, on behalf of the owner, will do everything possible to re-let the home and minimize the residents’ cost. The owner is not charged for advertising or a re-letting fee.
How is the owner protected if the resident damages the property?
A refundable security deposit taken at move-in is usually sufficient to handle the minor damage caused by residents. Residents with excellent credit and references seldom cause significant damage. If the resident leaves the property owing money for rent and/or damages those expenses will be deducted from the residents security/pet deposit.
