What happens if the tenant leaves before the end of the lease?
The lease is a legally binding contract. A small percentage of tenants will break their lease due to unforeseen life events and some will simply make the poor decision to leave before fulfilling their lease. The tenant 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 tenant’s charges.
When is your office open?
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.
What happens if the tenant does not pay on time?
It’s your money and we take it seriously. One of the most expensive times for any landlord is when the property is vacant, or a tenant 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. Tenants 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 tenant is sent a Notice To Vacate the property. The Notice to Vacate is the first step in the eviction process and legally notifies the tenant they have three days to pay the past due rent or vacate the property. Most tenants contact our office and pay immediately upon receipt of the Notice to Vacate. In the event a tenant 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 tenant and all possessions from the property. The process can be costly.
It is standard for the Eviction Protection Plan to be included with our property management agreement.
Can I enter my property after it has been rented?
We do not enter the property and recommend the owner not enter the property except in emergency situations or when repairs have been requested by the resident. GDAA Property Management, 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.
How much notice is required of the tenant before they move-out?
Our standard lease requires either party, landlord or tenant to provide a 45 day written notice. Approximately 60 days before the expiration of the tenant’s lease, our office will contact you and make recommendations regarding rental rates and guidance on renewing the tenant. Most property management companies raise rental rates and renew tenants’ leases without seeking input from the property owner. This is your property and we feel it is a better partnership when you are involved.
Will you pay my HOA dues?
GDAA Property Management offers a once per year opportunity when our bookkeeping department will pay your HOA dues. At the beginning of each year, we notify each landlord 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 owners 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.
Many owners have taken advantage since it does simplify bill payments and record keeping as the entire yearly HOA fee is posted on your yearly statement for tax purposes. We do not pay monthly or quarterly HOA dues on your behalf.
When do I get my rental proceeds each month?
We pay owners fast! Rents are due in our office on the first day of each month and are considered late at the close of business on the third. Owner proceeds are distributed via ACH directly to your account on the first business day after the fifth each month. In 2019, our office paid owners on the 4th of the month 9 times last year. We take paying owners seriously. At the time of proceeds distribution, your monthly statement will be emailed directly to you. We do not charge any additional fees for ACH distribution.
Owners requiring a physical check being processed and mailed directly to them will be assessed a minimum $5.00 per month fee for processing and mailing.
How do I make an owner contribution or payment?
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.