Investor FAQs

WE DO NOT.

It is tempting, we must say to be “offered” special services from vendors who perform regular services on our portfolio, but it is also a huge conflict of interest. Our employees and independent contractors sign an agreement that they will not accept “freebies” from our vendors. If they do, it is grounds for immediate dismissal. It is just not good business practice.

WE DO, WITH FULL DISCLOSURE AND APPROVAL OF THE OWNER OF THE PROPERTY.

In all cases, we follow the lease, payments due on the 3rd and late on the 4th (for most of our properties). We feel that during the height of this economic downturn we were able to “save” many honest residents who experienced an unfortunate personal financial downfall. We work hard to come up with an “agreeable” payment arrangement and get them signed by the resident. If the resident breaks the payment arrangement, we then begin immediate action on the eviction process. Many times we are able to ask the resident to leave peaceably which saves eviction and court fees. If we try to work with them, they usually respect this. Residents that have “made it through” a difficult time and have caught up with their rent tend to be very loyal to our company and tend to remain as residents with us.

Please know it is harder to work with residents through payment arrangements. The “easier” way is to file eviction and move on. We know pretty quickly who will abide by the arrangement and who will not.

WE ABSOLUTELY DO!

We don’t mind paying a coop fee for area Realtors to lease our properties. This is one of our competitive advantages and many months we obtain over 50% of our leasing activity from outside Realtor showings. We enjoy working with them and go out of our way to make the transaction as smooth as possible.

We perform a credit check, criminal background check, employment verification, and rental/ mortgage payment history on every adult prospective resident. We evaluate the lease rate /income ratio to ensure the prospect can afford the rental unit. Upon approval, the prospect is given 72 hours to sign the lease and pay the security deposit.

• A move-in inspection is performed in which we document, both in pictures and writing, the condition of the property.
• As required by law, all smoke and carbon monoxide detectors must be tested and the batteries replaced regardless of how new they are. We abide by the Texas Property Code for the proper number and location of smoke detectors.
• Furnace filters will be changed, as needed. Not only does this help protect your investment, but sets the benchmark for new residents. Per the terms of our lease agreement, residents are required to replace them throughout and at the end of their residency.
• The property will be re-keyed to ensure the safety and security of both the property and the new resident.

Yes, please download the proper form to give us the proper notice. Please read carefully as you accept certain responsibilities if you decide to perform your own maintenance.

This is a federal government program, administered by local housing authorities, where residents obtain assistance in meeting their monthly lease payments. The government’s share of the lease payments are deposited in our Trust account on the first of each month. Our property managers will discuss the program with you and get the paperwork together for you to sign if you are interested in offering Housing Voucher Program on your property.

In the event that you need to end management, you must notify us in writing in agreement according to the terms of your property management agreement. Upon receiving written notice of your desire to terminate, we adjust the reserve to $500 to ensure sufficient funds to pay any outstanding charges. Approximately one billing cycle (45 days) after the termination date, we will process your final equity distribution. As with our leases, termination is only allowed on the last day of the month.

1st of the month: Rents are charged – beginning of the statement period, revenue begins to be collected for the month.

6th of the month: First three day notices are mailed regular mail and certified mail to the resident’s address.

13th of the month: Evictions are being filed (after consultation with investors). Court dates are set at eviction filing and can vary.
Every Tuesday and Thursday up until Hard Close we pay any invoices on behalf of the investors.

25th through 28th: Hard Close is placed on our system and no further expenses are income can be entered. Investor distributions are calculated and approved by our Property Managers.

29th: Distributions are then mailed or direct deposited into your account.

By the 5th of the following month, Financial Statements go out via email for the prior month.

We believe in prompt and thorough communication with our clients. Every staff member has their own telephone extension, voice mail, and e-mail. We send out monthly statements in an effort to keep our clients informed. Below are some of the instances that we will initiate additional communication:

• Eviction filings
• Acceptable application or notification of an application that does not meet our qualification
• Notice to vacate from the resident
• What to expect when a resident moves out
• Lease renewals
• Extraordinary maintenance items

We are here to answer any questions that you have. Please contact us at any time.

We love talking on the telephone, but often our call volume is so high that we cannot answer every call that comes in immediately. Understanding the need for instant information for our investors and customers, we have invested much time and capital into developing a fully encompassing website that answers most every routine informational request we receive.

• For our investors, we offer a fully integrated investor login so they can view information on their accounts 24 hours a day. The information contained in the investor login is the exact data that we look at in the office. Virtually any report can be produced from our investor login for any period of time for which we manage your property.
• For our current residents, we offer a fully integrated resident login where the account can be viewed. Maintenance requests can be submitted online and the answer to most questions can be found on our website. Some of the questions where answers can be found include, can I break my lease, how do I give proper notice to vacate, and what do I need to do before turning in my keys. Rent can also be paid online.
• For our prospective residents, all of our available properties are listed on our website. In fact, we use our website internally to answer questions regarding the properties. Additionally, the answer to most questions regarding our application process, screening process, and other pre-tenancy issues can be found on our site.
• For all of our investors and customers, there is an extensive forms section with forms for virtually every situation where one might be needed.

Should the information you are looking for not be available on our website, we welcome your call to assist you in any way possible. If you do not get a live person, please leave a detailed message for the appropriate person and your call will be returned as quickly as possible. Thank you for your understanding that we do not, typically, place people on hold to assist another person while the first caller waits on hold.

In the unlikely event that the expenses exceed your monthly income, we will contact you for payment of the expenses. Payment must be made within 7 days to avoid penalties and interest. We are prevented by law from expending money from our Trust Account if your portion of the account that does not have sufficient funds.

Yes, through our accounting system we can easily pay your monthly bills, including HOA dues. We pay bills weekly on Tuesday and Thursday up until our closeout date each month. We do require a bank balance to be funded in excess of the estimated monthly payments in order to take advantage of this service. Please download the appropriate form to begin this service.

Typically, 1099s are sent out the first week of January, but in no case later than January 31st of each year.

View a list of reports that are available via e-mail each month. There is no extra charge to receive these reports via e-mail.