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Property Management

We do property management for clients who would like to have a portfolio of properties in the Austin Market. TTR providing Property Management service with affordable price, where you don’t have to worry about maintenance, tenant’s calls, payments etc.

Our services include :

  • Receive and dispatch maintenance calls, unless you instruct otherwise, or in the event of an emergency.
  • Collect monthly rent on a timely basis and as necessary, apply collection treatment including 3-day notices. And any filing for eviction and/or money claims (requires owner or owner’s attorney), at any time during the eviction process if court appearance is necessary the managing leasing agent will appear if necessary.
  • We offer 24 hour on call service for emergency maintenance and comply with HOA regulation on Lawn maintenance.
  • We want to assure you, every effort will be made to make this a pleasant and rewarding relationship.

Owner Frequently Asked Questions

How much are the fees? +

  • Leasing Fee: Our company charges a leasing fee equal to 80% of one month’s rent. This pays for advertising, tenant screening, lease preparation, etc.
  • Management Fee: Our Company charges 8% of the monthly rent for management fees. This covers rent collection and distribution, coordination of maintenance, tenant relations, etc.
  • Renewal Fee: Our Company charges a $150 flat fee for lease preparation and property inspection.

 

Do you have a discount for multiple properties? +

YES! We offer multi-property discounts. Our management fees for owners with 4 or more properties is 7%.

 

How do you do background checks? +

All potential tenants are thoroughly screened through Background Info USA, which retrieves credit history and worthiness, nationwide criminal background INCLUDING the sexual predator database & terrorist watchlist, nationwide eviction reports, tenant performance reports, public records, small claim judgments and collection referrals.

 

What needs to be done to prepare a property for rent? +

The property should be in the best possible condition to attract a quality resident. Paint should be in good shape with marred or dirty areas touched up. Neutral colors for walls and floors are best. Blinds or shades are ideal window coverings. The home should be “detailed” clean and the yard in mowed & edged.

 

How do I determine the rental amount? +

The competition determines the rental amount. As your management company we will run a market report to see with the market and the competitive rental ranges are for your home. If the home is marketed too high the home will be vacant much longer. If it is marketed too low, it may be one or two years before the price becomes competitive again.

 

How do you market the property? +

A sign and lockbox are placed at the property within 24 to 48 hours. We advertise your home in the Austin Multiple Listing Service (MLS). Once the MLS listing is active it feeds to other public sites such as Austinhomesearch.com, Trulia.com, Hotpads.com,Craigslist and Zillow.

 

How long will it take to rent? +

Vacancy periods depend on the market, economy, location & condition of the property as well as the rental price. Homes rent more slowly between Thanksgiving and New Years. Location and price effect vacancy. TTR will begin marketing your home the moment it becomes rent ready, or as soon as the current residents give us their notice of their intent to move out we will begin marketing 45 days prior to the tenants vacating. At present time, average rental time is about 45 days.

 

What are the policies regarding Pets? +

Our company has seen that between 75-80% of renters own pets. Restricting pets reduces the number of available qualified residents. Our company has a very strict pet policy. We require applicants and tenants to provide photos of the pets prior to approval. We charge a pet deposit and also require the tenants to have all flooring professionally cleaned and pet treated and provide our office with receipts.

 

What about smokers? +

Smoking is prohibited inside the property.

 

What lease do you use? +

We use the Texas Association of Realtors Residential Lease, approved by the Texas Real Estate Commission (TREC) and the National Association of Property Managers (NARPM).

 

When do I have to pay you leasing fees and monthly management fees?+

Leasing fee is due upon lease signing. Monthly management fees are due when rent is due and our company deducts this amount from the tenant’s rent check.

 

What happens if the rent is late? +

We do not tolerate the late payment of rent. We are careful to explain this policy to new residents in order to avoid any misunderstanding that might arise later. You can expect that we will make every effort to collect rents when due on the 1st of the month. Our collection policies are as follows :

  • All rents are due on the first of each month.
  • Any remaining residents who have not remitted their rent by the 4th of the month will be served a Notice to Vacate, which is required prior to commencing with the eviction process. All owners are contacted prior to us filing eviction. While it is doubtful than an eviction will be necessary with our qualifying criteria, financial hardships do arise requiring prompt collections attention.
  • All paperwork, (including, but not limited to) copies of the lease, and the Notice to vacate are filed with the appropriate Justice of the Peace.
  • We will appear in court as your managing agent for the eviction hearing.
  • In our local counties, delinquent tenants can usually be evicted in about 3 week’s time. At TTR we take a firm position in our belief of “No pay, no stay”.

 

What is Eviction Protection? +

Eviction Protection is a service our office provides to all of our owner clients. There is a minimal fee that will be billed once a year on January 1st. Under the Eviction Protection Program, TTR Property Management will pay all court costs and filing fees in connection with a Forcible Entry and Detainer against your tenant. This protection covers your cost of sending our attorney, when required, and a representative from our office to all cases at the Justice of Peace Level. (See Eviction Protection Program for full details)

 

Does Eviction Protection cover me for an existing tenant? +

If you have an existing resident who was not placed in your property by our company the plan goes into effect after six months of management fees having been paid. (See Eviction Protection Program for full details)

 

When are monthly funds distributed? +

  • We provide income and expense statements on the property by the first business day after the 5th of each month.
  • TTR provides direct deposit to all of our owners. This eliminates any delay with the postal service and will be deposited into your designated account within 48 hours of the transaction.
  • If you prefer to have a check mailed to you instead of taking advantage of direct deposit TTR will mail you a check for an additional $5.00 monthly fee. Please be advised that TTR is not responsible for checks that get lost in the mail so if you report that you did not receive the check we will put a Stop Payment on the check, which includes a 48 hour waiting period, after which we will reissue another check

 

Who handles maintenance requests for both emergencies and non-emergencies? +

  • We take care of all the repairs that are necessary on your property, both large and small.
  • If the cost for the repair is over our $150 cost limit we will contact you for approval prior to having the work completed.
  • TTR will either send you the invoice for payment or take the cost of the repair out of your rental proceeds if over the $150 cost limit.
  • Our office has a designated phone number for all emergency calls. When a tenant calls in and leaves a voicemail a member of our staff is paged. We will call the tenant back and may times handle the situation right then on the phone to solve problems which reduces “the emergency” and thus saving the Owner’s an additional expense.

 

What if there is a repair that exceeds the $150 cost limit?+

  • If we think a repair might exceed $150 our office staff will try to reach you by phone and/or email to discuss the necessary repairs and obtain approval prior to having the work completed.
  • If we are unable to reach you, we may initiate repair work even if it is higher than $150 as stated in the management agreement; for the following cases: (1) the health or safety of a tenant is an issue; (2) the property will incur damage if immediate action is not taken, (3) In instances where there is only one option to consider. We will not leave a tenant waiting in 90+-degree heat without A/C or without hot water, or a leaking roof while we try to contact you for permission to do the obvious.

 

What is the average length of tenancy?+

A majority of our rental agreements are for 12-months. Other agreements range from 18 to 24 months. At the end of the lease term the owner can decide to renew to the resident (if the resident wishes to remain), vacate the resident, or allow the resident to remain month-to-month. If the market has changed the owner can raise the rent at lease end.

 

What happens if the resident leaves before the end of the lease?+

The resident is responsible for the rent for the term of the lease. If residents leave before the termination date they will be charged for rent until the home is re-let as well as a re-letting fee equal to one month’s rent. We, on behalf of the owner, will do everything possible to re-let the home and minimize the residents’ cost.

 

If I have a concern, who do I call?+

Any member of our staff will be glad to assist you with any concern you might have.

 

If I decide to sell my property, can TTR help?+

Definitely!! We will be glad to assist you with the decision process as well as help you achieve the best selling price possible. We will work closely with you to make sure you get the quality of service you deserve. If you came to us through another Agent we will ask that you consider using that agent as a professional courtesy. If you choose not to use that Agent we will notify the Agent that we have been hired by you also as a professional courtesy.

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Recognized industry wide as an influential leader, Trinity Texas Realty Inc. Broker/Owner Sijo Vadakkan is renowned for his passion, leadership and st...

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