We know what is probably on your mind if you are considering becoming a landlord. Take a look at our Frequently Asked Questions, then give us a call or use our online form if you need more information.
Q: Why Work With A NARPM Property Manager?
NARPM® property managers have heightened expertise and industry knowledge to assist them in doing the best possible job. They are real estate professionals who know first-hand the unique challenges of managing rental property in today’s constantly changing economic and legislative environment. And they know how to manage those challenges to everyone’s benefit. They can maximize rents and income for you; and they will manage the property efficiently, professionally and economically.
A NARPM® member stands apart from other property managers and landlords. Unlike many of them, NARPM® members:
- Have access to numerous educational opportunities.
- Adhere to the highest Standards of Professionalism and Code of Ethics.
- Know the landlord/tenant laws for your city, state and federal governments.
- Know rent values and vacancy factors.
- Have rental applications and consistent screening policies to meet legal obligations.
- Perform thorough move-in and move-out property evaluations.
- Are personally familiar with reputable painters, electricians, roofers, chimney cleaners, carpenters, landscapers, furnace and appliance repairmen, and other maintenance professionals.
- Can effectively negotiate with tenants, handle difficult issues and enforce the terms of the rental agreement.
- Have the ability to recover NSF checks, evict tenants and collect bad debts.
Your rental property is a very valuable asset. Entrust it to someone that can help you maximize your investment and minimize your headaches!
Q: How Do I Know If I’m Getting A Good Tenant?
A: Tenant screening is done by a NARPM affiliate. They do a thorough credit check, national background check, employment and residence verification for every adult who will be living in the house. Their recommendation on whether to accept or not accept an applicant is used to make our final decision.
Q: What Happens If My Tenant Doesn’t Pay Rent?
A: We follow a strict procedure which includes legal notice of contract breach, personal contact with the tenant in an effort to work things out and ultimately a court hearing, judgment and eviction if necessary. We take all steps possible to resolve any rent payment issues without legal action. If it becomes clear that the tenant is unable or unwilling to pay any more rent, you will be notified to discuss options for removing them from your property.
Q: When Will I Receive My Disbursement Check?
A: Rents are due in our office on the first of each month. Our leases specify that if rent is not received by the third of the month, a late fee is assessed. To avoid violating trust accounting laws, we need to wait until rent checks clear before we can send payment to you.
Owner disbursement checks deposited between the15th and the 20th of the month. You will receive an email with a onetime link that will connect you with your statement, any completed work orders as well as any paid invoices.
Q: Who Collects the Rents?
A: Captex Property Management collects all rental payments from tenants, and then uses these funds to manage the monthly operations of your property. Any residual income remaining is dispersed to your account.
Q: What Happens to the Tenant’s Security Deposit?
A: All security deposits are placed in a separate escrow account at a FDIC insured banking institution where they remain until the tenant moves out. Deposits minus any damage noted are refunded within the legal time frames required by Texas State Landlord Tenant Law.
Q: Who Pays the Monthly Recurring Bills?
A: Captex Property Management can make any or all recurring payments for you such as your HOA dues, lawn maintenance contract, pest control contract, etc. During a vacancy, we will pay utility bills. However, we do not make mortgage or insurance payments. For HOA dues, we can pay those, but we require that they be paid in 6 month or annual increments.
Q: How Often Will My Home Be Inspected?
A: At the beginning of each new tenancy, a very thorough and concise move-in inspection, replete with dozens if not hundreds of pictures is completed which provides Captex Property Management and tenants with a detailed summary of the condition of your home. Throughout the tenancy our team will conduct general exterior and interior inspections. Upon vacating, the same initial report is used to record the condition that the property was left in. Any discrepancies that do not fall under normal wear and tear are rectified at the tenants’ expense.
Q: How Do I Know That The Maintenance Done On My Home Will Be Quality Work?
A: Captex Property Management utilizes a large network of licensed and bonded local contractors, most of which have been doing work for us for many years. We are experts in finding you the best price for the job, and require all our third-party vendors to have the highest level of professionalism and quality.
Q: What Services Do You Provide?
A: Captex Property Management is a full-service management company. We handle everything pertaining to your rental property. We assess rent amounts, advertise, meet and screen prospective tenants, place a tenant in the home, provide a monthly statement and surplus check to the owner, coordinate repairs, and send out annual tax statements and maintenance inspections. We also provide 24 hour emergency maintenance services for your home, as well as an in house maintenance company.
Q: What Areas of Town Do You Manage?
A: Our Property Management service area includes all of Travis County and parts of Hays and Williamson County. More Easily Said, We Manage from Georgetown to Kyle, and Leander to Bastrop. Our Principle owns and manages property in San Antonio as well, so we can handle that market if the fit is right for both you and our company.
Q: How Much Will My House Rent For?
A: This is based on many factors, namely
- Time of year
- Availability of rentals at that time
We take all of these things into consideration when determining your rental rates.
The most important thing to know is that the rental market is indifferent to your mortgage payment amount. The rental market does not care that you might have a negative cash flow, and will punish with extended vacancy owners who overprice their rental homes. When you hire us as your property manager, we will look at the rental market in your area, survey the competing homes, and make sure your home is priced so that it will be viewed favorably against the competition.
Q: What are the policies regarding pets?
A: Statistics indicate that 75% of renters own pets. Restricting pets reduces the number of available, qualified tenants. Pets will be screened and pet references checked out. In general, a well-behaved cat or dog causes little wear and tear on a home and yard. An additional pet fee is always required from the tenant for cleaning/misc costs. Through our animal protection program, we guarantee that we will reimburse up to $1000 of pet damage not covered by the security deposit, with an option to take that up to $5,000.
This policy makes it our responsibility to have responsible pet owners as renters. If we don’t perform, we’re the ones who foot the bill.
Q: How Do I Get Started?
A: If you are not currently under contract with another property management or real estate company, we can begin right away. If you are currently under contract, you will need to terminate their services per your agreement with them. We are happy to pick up keys, obtain the security deposits and necessary documents from the discontinued company, or we can do it for you if you so choose. If not, once you have completed all necessary forms and returned those to us, we will get started.
Q: What Do You Expect From Me As The Owner?
A: We want you to not have to worry about your rental property. We ask that you as the owner trust that as a professional property manager and your agent, we will always work in your best interest, and to understand that rentals are an investment and sometimes investments require money in the form of regular maintenance in order to keep gaining in value.