Why should I refer you, owner clients, 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 GDAA Property Management, and we guarantee it.
I am listing a property for lease and the owner is self-managing. Can I still have GDAA Property management run applicants’ backgrounds and credit checks?
Yes, you can. We offer this service to the real estate community. Let us help you and your owner screen applicants. While no one is ever perfect, we do have a pretty good track record as we screen nearly two thousand applications per year.
Can I list the property for lease and have GDAA Property Management manage the property?
Absolutely. You list the property, use our link for applicants to apply, we fully screen the tenants, 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 $250 referral fee for each landlord owner you refer to our company.
How do I know I get my clients back?
A couple of ways, first ask around, we don’t keep your owners and agents in our community will verify. Second, drop by our office and see for yourself. Each landlord client that has been referred to us over many years in business has the referring agent name and contact info listed with the landlord’s contact information. Last, we place a disclaimer on each and every management agreement that states the property owner 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, owners. No problem, we get it. First, direct them to our website to the Do IT Yourself resource page. We have a pretty good Q and A section that might just do the trick. We also provide a resource page that has many of the needed forms to assist a Do It Yourself landlord. If either of these two resources doesn’t help, call Greg or one of the property managers and let’s brainstorm some possible solutions. We always want you to look good to your clients.
When do I get paid?
When you refer an owner to us for management, you will be sent a referral check the first Thursday after a tenant has been secured and paid their first month’s rent. If the property is transferred to us with an existing tenant, a referral check will be placed in the mail following Thursday.
I am representing a buyer (or seller) on a property with an existing tenant. 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 tenant 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 tenants 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 Tenant 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 owner reject an applicant that states they are a smoker?
Absolutely! Smokers are not a protected class.
Why should a tenant have Renters Insurance?
Yes, one of the simplest reasons is that the landlord’s insurance most likely will not cover the tenant’s belongings. Additionally, smart landlords require tenants 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 tenant 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 tenant has not paid rent, does my owner 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 tenant 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 tenant tacking possession. Smoke detectors, including batteries are the responsibility of the tenant during the duration of the lease.
When should the tenant expect to receive the security deposit?
If the tenant has provided proper notice by providing a forwarding address, returning all keys, openers, and has vacated the property, the owner 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 tenant 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 tenants 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 tenant legally be released from a lease?
Tenants 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 TR lease states that the tenant 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 tenant 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 tenant 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 tenant may always request additional days and most landlords would agree. The key is having the tenants 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 the heck does that mean? Here’s a good tip. Look at your local grocery store and Walmart 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 tenant holdover?
When a lease comes to the end and the tenant fails to vacate the property the tenant is in a holdover position. The Texas Residential Lease states the tenant 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 tenant 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, call your local plumber, electrician, or HV/AC person and ask what they charge for the first hour of work.
Who is responsible for changing the air filters?
Apartment complexes routinely change residents air filters. Not so in single family properties. It is the tenant’s responsibility to change air filters for the duration of the lease.
When should the locks be changed?
It's comforting to new tenants when they actually see new locks being installed. Under the Texas property code, locks must be changed within 7 days of a new tenant taking possession of the property.