Am I required to make my property available to Section 8?
No, this is the owners discretion if he or she would like to accept Section 8 Housing.
Yes, to be a property manager and show homes for sale or lease that I am not the owner, the State of Texas and TREC (Texas Real Estate Commission) requires you to have a real estate license.
Can I reach you after hours?
Yes, my homeowner clients will have the cell phone of myself or the property manager on duty.
Can you put the money directly into my account?
Yes, we do a EFT to your bank account of choice once rent is collected.
Do I get to see the lease or sign it?
Yes, our leases are standardized for every lease. You can see a sample lease that we use for all tenants. We sign all leases on behalf of the owners only after they have approved the tenants application. If owners prefers to sign lease you can do that as well.
Do you sell real estate too?
Yes, we are a full service real estate company. We work work with buyers and sellers. Since we manage the home, it is very advantages to sell it because of our relationship with tenant when it is occupied.
How and when do I get my checks?
When we process the rent payments we then will conduct an EFT (Electronic Fund Transfer) to your bank account. This process takes 24-48 hours depending on bank and weekends or holidays.
How is rent collection handled?
Rent is due on the 1st of the month. We have a grace period till 11:59pm on the 4th day. Rents are processed on the 25th of the month and disbursed to owner on that day. Owner will get a email that a fund transfer is scheduled to their bank account.
How long of a lease do you sign?
Leases are a minimum of 12 months and maximum of 24 months unless special instructions are given from owner.
How much security deposit do you charge the tenant?
Security deposits are typically a minimum 1 months rent. It can be more depending on application and owner requirements.
How soon can you start managing my property?
Immediately, once we have management agreement completed we add the property to the system are start with inspections and set up marketing.
What type of properties do you manage?
We manage single family residences, multifamily residences, Condo’s, Townhomes, Apartments, Office Complexes.
What type of reports do I get and how often?
You will have access to an online portal in which you can access 24/7. This portal will show you current financial, rental owner ledger, all documents and there are 26 different reports you can pull for your rental property. Balance Sheet, General Ledger, Property Statement, Rental Owner Statement to name a few.
Who holds the tenant security deposit?
5 Star Property Management will hold the security deposit in a non interest bearing checking account for the duration of the lease as per Texas Property Code.
