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Property Management FAQs

Here are some of the most frequently asked questions and the answers we provide to those questions.

Who Do You Work For? Great question! The Texas Real Estate Commission and Texas Law requires that every REALTOR® disclose Information About Brokerage Services to prospective clients during our first conversation of substance or our first face to face meeting. Basically, the information explains the fiduciary obligations the REALTOR® has to a client or a customer. A client is someone that has signed a representation agreement with the Broker, and the Broker or REALTOR® is then working in the best interests of the client. If there is no representation agreement, the prospect is a Customer, but is still to be treated honestly by the REALTOR® or Broker.

How much will you charge me for leasing and property management services? Well, this is a question that is not easily answered.Our charges are basically property driven, meaning that we evaluate each property in our management portfolio, and determine the special needs of the property and the amount of work we feel will be required on our end. As a general rule of thumb, our leasing fees run anywhere from 80% to 100% of a months rent. As an example, if your property leases for $1,000 per month, the fee for leasing the property (finding you the most qualified tenant for the property) may be $1,000. This may seem to be excessive, especially if you have leasing and management experience in other parts of the country. But, here is what happens to that $1,000; it pays me, it pays another REALTOR® (in most cases) for presenting the qualified applicants to us, and it pays for any advertising we feel may be required. You need to make it attractive to a professional leasing person to show the property to prospective applicants.

As far as the cost of managing your investment property, we charge anywhere from 8% to 15% of a months rent, again depending on the expected degree of difficulty we anticipate. As a general rule of thumb, if you are trying to make a decision about becoming a Landlord and trying to determine your monthly or annual cash flow, I would use a monthly management fee expense of $100.

TO RECAP, PLEASE REMEMBER that you are hiring a Property Management and Leasing Professional to provide you a valuable service. On the leasing side of the equation, the most important thing we can do for you is to find you the most qualified applicant for your investment property, and on the Property Management side of the equation, the most important thing we can do for you is to enforce the terms of the lease.

How long will it take to lease my property? My standard answer to that questions is, if I knew the answer to that question (therefore being able to predict the future), I would be in a different line of work. My real answer to that question is, if the property is in good shape and it is priced well, it should lease within 45 days. The condition of the property and the price/value perception on the part of the prospective applicant will drive the decision of the prospect.

Do you lease or manage properties near my investment property? Austin and the surrounding areas cover a lot of territory, and we do manage properties in Hays, Williamson and Travis counties, but not in every possible neighborhood.We do, however, have the tools available to provide you with accurate information concerning property values, leasing rates and marketing strategies to provide you the services you demand.
 

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LynnS"I thought I couldn't qualify for a mortgage so I was reluctant to try to buy a home. Bill Evans helped me to find a lender and a wonderful home. Without his patience and understanding I'd still be throwing my money away on rent."

Lynn S.
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Tel (512) 458-3730
Cell (512) 797-7587
Fax (512) 458-3736

1310 South First
Suite 100
Austin, Texas 78704-3060


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