Common Property Management FAQ’s For Owners
- What do I need to do in order to prepare my rental property?
- About Cleaning
- About Painting
- About Window Coverings
- About Appliances
- About Your Yard
- How does Davis Property Management procure tenants for your property? What is the typical time frame?
- Can I specify that I do not want any pets or smokers in my house?
- Can I specify that I do not want to rent to tenants with children?
- When is rent due? When is rent considered late? What happens if the tenant pays rent late?
- When does Davis Property Management pay the owner each month?
- What happens if the tenant damages the property?
- What happens if the tenant vacates the property before the end of the lease?
- What happens in the event the property needs an emergency repair? Will the owner need to be contacted in the middle of the night?
- Who makes the repairs on the rental property? What if the owner wants to use their own contractors? Does Davis Property Management charge service fees on top of the repair contractor's bill?
- I am interested in investing in real estate in Texas, but live out of state. Can you help me?
Davis Property Management’s goal is to attract the best tenant for our owners. We advise that you leave your property in a clean and professional state. Just ask yourself this question: How would you expect the unit to appear if it was yourself going to rent it as a tenant?
We have prepared the following notes to help you prepare your home for rental. Please contact your property manager at any time to discuss any questions or concerns that you may have regarding preparation of your property.
Your property needs to be cleaned thoroughly and all personal possessions and any miscellaneous items (including garbage, construction debris, new air filters, light bulbs, etc.). The incoming tenants will be paying a security deposit, which they will expect returned if they leave your property in the same condition in which you left it.
We urge our clients to let Davis Property Management arrange licensed and professional cleaning services so that we can ensure that cleaning standards are met.
Many clients ask us if they need to paint their home prior to rental. You do not need to paint simply because you are renting your home, but we do advise our clients to paint rooms that have dirty, stained, or marked walls. Neutral colors work best.
Tenants do expect some sort of window coverings to ensure their privacy and security. We advise our clients to install mini-blinds. (If you already have neutral window coverings such as blinds, please leave them installed.)
Non-neutral curtains that match a particular bedspread or piece of furniture should be removed.
We advise that you have your property in 'Rent Ready' condition; therefore, we urge you to have a refrigerator, washer, dryer, dishwasher.
If you have questions regarding which appliances to leave or have installed, please first discuss this with your property manager.
Because tenants are requested to maintain the yard in the condition it is provided to them, we advise that you mow, edge, weed, and trim the yard, and remove any leaves or debris. It is up to whether you would like to continue maintaining the yard care or include that cost into the rent price. Or, you can specify in the lease that is the tenants responsible to take care of the lawn.
Once there is a property management agreement in place, we immediately list the property for rent within our own office and on the North Texas Area Multiple Listing Service and Realtor.com. We then place our sign and lockbox on the property. We also like to put an ad in rentals.com as well as rentalhomesplus.com to gain maximum exposure for your property. Realtors® throughout the Dallas-Fort Worth area will then have the ability to show the property.
There is no “typical time frame” to lease a property. Based on the time of year, list price and condition of property it can be anywhere from 1 day – 6 months.
You certainly may prohibit tenants from bringing pets into your home, or from smoking in your home. Please do note that by banning pets and smokers you are reducing the potential pool of renters.
We have found that our clients have significant difficulty in finding tenants when prohibiting pets, but we do advise that you require a pet deposit anywhere from $250-500 depending on the size and breed of the pet. Typically 50% of the pet deposit is non-refundable. Another option is to only allow pets under 25-30 lbs.
Please know, if you feel strongly about not having pets, Davis Property Management will respect your instructions and will not lease your property to pet owners.
Davis Property Management performs all its business in accordance with all Fair Housing Laws.
Rent is due on the first business day of each month and considered late after the third business day at 11:59 PM.
If a tenant pays rent late (after the third of the month), the property manager takes the first step of the eviction process, namely, to send a 3-Day Notice to vacate. Typically, the tenant contacts us and the rent is paid at this point.
If rent is not paid by the tenant following receipt of the 3-Day Notice, Davis Property Management files an eviction notice with the Justice of the Peace precinct and a hearing is set within ten to fourteen days. In most cases, we handle the eviction without hiring an attorney. As the property owner, you are initially charged for the filing fees, which are later charged to the tenant.
Davis Property Management collects rents the on the 1st day of every month (and considers rent to be late after the 3rd day of the month at 11:59 PM). We then wait for the tenant checks to clear, and then begin disbursing statements and funds to our clients on or about the 10th of the month. Your monthly statement will list all account activity for the month prior.
Davis Property Management will try hard to find tenants with good credit and references because they rarely cause significant damage to rental properties. In some cases, it can happen where the tenant will cause damages to your property. We use a screening company to perform credit, criminal background, employment, eviction, and landlord checks.
Davis Property Management collects a security deposit from each tenant prior to their occupying the property. In the event that a tenant damages your property, the deposit is typically sufficient to cover any minor repairs required.
If a tenant leaves the property owing more than the security deposit covers, Davis Property Management will turn over their account to a collection agency and file a suit in small claims court.
If the tenant vacates your property prior to the end of the lease (either because they are forced to or choose to), they will be charged the rent until the property is re-rented to acceptable tenants under the same terms and conditions of the original lease. The original tenant will also be charged the cost of re-renting the property and one month's rent as penalty. The property manager will attempt to re-rent the property as soon as is possible in order to minimize the costs that the original tenant incurs.
Requests for non-emergency repairs are submitted to us by tenants in writing through e-mail or a written letter, or a direct phone call. Essential repairs that cost less than $250.00 will be made automatically and billed on your next statement. If a repair is estimated to cost more than $250.00, we will call you as the property owner for direction.
Davis Property Management has long-term relationships with reputable, licensed repair vendors in all fields. These contractors are available 24 hours a day in the event your property requires an emergency repair. If you would like to use a contractor of your own choosing, we would be happy to use them provided that they meet our Vendor Requirements criteria.
Davis Property Management does not charge service fees for supervising normal repairs. You will simply be billed the actual amount that the vendor charges. This service is included in your management fee.
Yes, we can. We have experience working with both in-state and out-of-state buyers. We provide property sourcing, remodeling, and management services as part of our turnkey offerings. In fact, we have some out-of-state clients who work with us by phone and e-mail exclusively!