Owner Frequently Asked Questions

Answers to your common questions

• Q: Why work with a NARPM Property Manager?

  A:

  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: What happens if the 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. Owner disbursement checks are mailed or deposited on or before the 18th of the month. We post owner statements to the Owner Portals on the date of disbursement, and you will receive an email with a one time link that will connect you with your statement, any completed work orders as well as any paid invoices.

• Q: Who collects the rent?

  A: CENTURY 21 Burroughs 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 Tenants 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 recurring monthly bills?

  A: CENTURY 21 Burroughs can make any or all recurring payments for you such as your HOA fee, lawn maintenance contract, pest control contract, etc. During a vacancy, we will pay utility bills. However, we do not make mortgage or insurance payments.

• Q: Am I informed of all repairs made at my property?

  A: Our standard management agreement includes emergency service consent as well as authorization of non-emergency repairs up to $500.00. For non-emergency repairs estimated to exceed this threshold, no work is initiated without your approval. However, we need to keep in mind that Texas State Landlord Tenant Law provides us with specific timelines on repairs being done, so time is of the essence when dealing with repairs at your property.

• Q: How often will my home be inspected?

  A: At the beginning of each new tenancy, a very thorough and concise move-in inspection is completed 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: What types of rental properties do you manage?

  A: We specialize in single family residential homes and multi-family housing throughout Bexar and Guadalupe counties.

• Q: What services do you provide?

  A: CENTURY 21 Burroughs 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.

• Q: How much will my house rent for?

  A: This is based on many factors, namely

  • Location
  • Size
  • Condition
  • Time of year
  • Amenities
  • 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 if I want to use my own Plumber, A/C company, etc…?

  A: We already have a stable of very qualified and reasonably priced vendors that we have used for many years. If you would like to nominate a service company to be added to our vendor list, they can contact us and we will interview them and let them know what documentation and references we need, what our invoicing and payment policy is, etc. We cannot guarantee however that your favorite company will be sent on all service calls to your home. Our concern is always to resolve repair problems in the most efficient way possible with the best available vendor at the time. We can't keep track of a pre-established roster of vendors assigned to certain properties - it would be a cumbersome and inefficient property management system and would not achieve the best service to the tenant and your investment property.
  Our professional reputation as property managers, both with tenants and owners, is largely, if not almost entirely, determined by the effectiveness with which we handle maintenance. We follow a practice that is most likely to insure the best possible response and resolution to maintenance and repair problems for your property.

• Q: Are you a licensed Property Manager?

  A: There is no specific Property Management License in Texas, but professional property managers must have a Texas real estate license to manage property for multiple owners.

• Q: Is the cost of Property Management deductible?

  A: Yes, the cost of management services is deductible, just like your mortgage interest, property taxes and the cost of repairs.
  (See your tax advisor for details.)

• Q: What do I need to get my property ready for rental?

  A: We have found that the better a property shows the faster we can rent it. Paint should be in good shape with any marred areas or large nail holes repaired and touched up. Carpets need to be professionally cleaned, appliances need to be in good working order, and a thorough professional deep cleaning gets the property ready to show. Septic tanks should have been pumped within the last year, and all chimneys need to have been cleaned and inspected within the last year. We have a network of people who can help you out with any of these things if you need.

• Q: Do I have to pay for every repair?

  A: When a tenant reports a repair or we discover a repair need during an inspection we first determine the possible cause. From there we determine which party is responsible. If damage was caused by the tenant, then they will be billed for the cost to repair automatically. If there is a repair need due to normal wear and tear, then we will coordinate the repair and pay for it out of the owners account. The owner Portal will have copies of all paid invoices for any given owner.

• Q: How quickly can you lease my property?

  A: Answering this question is like trying to predict the stock market. We've seen the same home rent in several days during one vacancy and then take several weeks during the next. Many factors come into play including location, time of year, price, quality of the applicants, and just being in the right place at the right time. We hate vacant properties but have found that patience wins out over panic every time. Finding a tenant is easy but finding the right tenant is an exercise in persistence and sticking to sound principles.

• Q: Are there administrative fees or any other service charges up and above the property management and leasing fees?

  A: Just one and it is optional. For a nominal monthly fee, should a tenant need to be evicted from your property, CENTURY 21 Burroughs will shoulder the rest of the costs, which start at about $500. If you opt out, you are responsible for all eviction costs, which include court hearings, postings as well as attorney fees.

• 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 deposit is always required for cleaning/misc costs.

• Q: Is it possible to refuse to rent to families with children?

  A: In federal, state, and local Fair Housing regulations children come under the protective class of “familial status”. It is unlawful to discriminate against children in any way.

• 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: How many units do you manage?

  A: Right around 350.

• Q: Do you just manage or do you sell too?

  A: We handle both.

• Q: What do you expect from me as the Owner?

  A: To not have to worry about your rental property, to 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 order to keep gaining in value.

• Q: Do you have a policy about Owners contacting the Tenants?

  A: We have found that when owners, usually with the best of intentions, share their contact information with the tenants, it almost always ends up bad for them.

• Q: Do you charge if the Tenant purchases the home?

  A: Yes. We charge 4% of the sales price. This is in our Management Agreement.

• Q: Do you provide a copy of the lease to the Owner and when?

  A: If you would like a copy of the lease, we would be more than happy to provide it to you. All you have to do is ask.

• Q: How long is the lease?

  A: We do all types of leases based on the situation and sometimes based on the time of the year. Mostly however, we prefer to do 12 month leases. At the end of the lease, if the tenants wish to renew, we send them another 12-month renewal. Dependent on owner’s needs, we can also do month to month or shorter term lease renewals.

• Q: Do you charge extra for month-to-month?

  A: Tenants pay $100 more per month to stay month-to-month.

• Q: Do you do a break-lease clause?

  A: Yes, we have a Reletting Fee charged to the Tenant. We understand that tenants sometimes have situations that require them to break their lease, so we give them a few different options with varying costs attached to them.

• Q: Who pays for Pest Control?

  A: It depends on what the issue is. If it is something that is being caused by the tenant due to how they live, then they would be responsible for it. If it is something caused by the weather/location of home, etc., then it would be an owner responsibility. Also, if it is a multi-family unit, such as a duplex, then you, as the owner would be responsible for all pest control because there is no way to determine without a shadow of a doubt, which property may have been the initial cause of the issue.

• Q: Do you recommend leaving a Refrigerator, Washer & Dryer?

  A: We do not. Typically Tenants have these items. If they are left in the property and part of the lease you would be responsible for repairs or replacement of these items.

• Q: How much notice do you require at the end of the Tenant’s lease?

  A: We require 30 days notice prior to the 1st day of the month the Tenant plans to vacate.

• Q: How do you determine to raise the rent or keep it the same?

  A: We will take the current market rent conditions into account, as well as the quality of the tenants. We do not always recommend raising rent for good tenants, and when we do it is a moderate amount.

• Q: What does the monthly fee include?

  A: Monthly fees cover the collection of the rent, dispersal of owner’s funds less any expenses, coordination of any maintenance, payment of any owner recurring bills, and basically all things having to do with the house or the tenants.

• Q: How is the money dispersed?

  A: We disperse owner funds via ACH directly into their bank accounts.

• Q: What is your advertising strategy?

  A: We take high quality pictures of the properties and input to MLS. We find that this is priceless when it comes to marketing in a primarily military area, where people are many times moving into a property sight unseen. We also post properties on our website, which then pushes the ads out to several other high traffic rental sites.

• Q: Do I pay any fees when my property is empty?

  A: No, we believe if you aren’t getting paid, we aren’t either.

• Q: What is your termination policy?

  A: This is covered in our property management agreement, and we are of the mind that property management companies and clients are not always a perfect fit, so we have different options for termination, if that is what a client desires.

• Q: What is your late policy?

  A: In our office, rents are due on the first and late after the 3rd. On the 4th of every month, we send Notice to Vacate to every tenant who has not paid their rent in full. We give tenants until the 8th to communicate with us or pay their rent, and if they have not, we start eviction proceedings, unless you direct us otherwise.

• Q: What is your late fee amount?

  A: We charge 10% of the collected rent.

• Q: Does the Owner receive the late fee or is this retained by the Property Manager?

  A: Late fees are retained by the Property Manager as compensation from the Tenant for our collection efforts, which are not charged to Owners. This includes posting notices, Certified Mail, and reporting to credit agencies. In addition, although a Tenant’s payment may be returned as NSF or account closed, the Owner has usually already received good funds from the management company. That money is not returned to us unless the Tenant does not pay and is evicted. Then it will show up as a negative entry on the Owner’s account.