Property Management and Leasing Services
Why use DFWCityhomes Property Management Services?
As you know, managing a residential income property is a lot of
work: from finding and qualifying tenants, to signing the lease,
to collecting rent, to making mortgage payments, to responding to
emergencies, to finding competent and reliable repair persons, to
dealing with tenant complaints and even to evicting tenants.
DFWCityhomes
offers a full residential Property Management Service and has been
managing residential and multi-family income property in Texas for
many years. DFWCityhomes is a member in good standing of the
Texas Apartment Association (TAA). This allows DFWCityhomes
to use the TAA applications, leases and other forms which have been
tested by time and designed to protect property owners.
We know what it takes to successfully
manage a property and are committed to providing first rate service
to our owners and tenants.
Charging too little for rent? Enter your
rental info below and find out!
What property management services are offered by DFWCityhomes?
Homeowners
contract with DFWCityhomes to manage their income property under our DFWCityhomes Property Management
Service. Our Management fee is 8 percent of the monthly rent
plus any application fees, late fees or bad check fees paid by the resident.
What does it cost to have DFWCityhomes lease my property?
The Leasing Commission is 100 percent of the first month's rent for
new tenants. 50 percent of the first month's rent is offered to buyer agents, we absorb all costs of leasing the property
including MLS fees, internet marketing, signs, lockboxes, background
and credit checks, etc. DFWCityhomes does not collect any fees
when leases are renewed or repairs are made.
What Types of Properties Does DFWCityhomes Manage?
The types of properties we manage are:
Single Home (<$300k)
Single Home or Condo ($300-$500k)
Single Home or Condo ($500-$1M)
Single Home or Condo ($1M)
Multi-Family (2-8 Units)
How Does DFWCityhomes Market Your Property?
As members of the Metrotex Association of Realtors we list your
property in the MLS (Multiple Listing Service) database. This
makes your property available to over 24,000 other Realtors.
We place our “For Lease” sign at the property with our agent cell number and web address so potential
customers can get information and schedule a showing right away.
We are very accessible to showing your property. We will make
appointments to show property after normal working hours and
on Saturday and Sunday to accommodate potential tenants' schedules.
Pictures of your property will also appear on the highly searched sites, Realtor.com' Homes.com and all of our other syndicated web sites that carry for lease listings.
How Do I Decide What Rent Rate To Charge?
DFWCityhomes will assist you to price your property correctly with a rental
analysis (CRA)— A rental analysis compares your property against
similar rental properties in the area to find the best market
value. We will advise you on any practical changes and improvements
that will help you attain your maximum rental value and attract
a quality tenant.
How Does DFWCityhomes Screen Prospective Residents?
When prospective residents call us off our sign or from
an MLS search, we make sure the unit under consideration is
suitable for the caller. They are asked when they need the unit,
how many people will be living in the unit, if there have been
any credit problems and why they are leaving their current residence.
If everything checks out, an appointment is set up with the
prospective residents at the unit. After the prospective tenant
walks through the unit, the prospective resident is given a
TAA Application to complete. They are told when they submit
their completed application along with a $30 non-refundable
application fee and a separate check or money order for the
amount of the rent deposit their application will be processed.
The requirement for two checks or money orders is another indicator
of how serious the prospective resident is and of their financial
viability.
After reviewing the application for completeness, a credit check
is run. DFWCityhomes is affiliated with Allied Credit Systems
and runs credit, criminal and sex offender background checks
from their office. After this is done, the applicant is either
approved or rejected. If the person is approved, they are contacted
and their application deposit is deposited and becomes a security
deposit. If the person is not approved, they are called and
a letter, as required by the Federal Fair Credit Reporting Act,
is sent to them along with the return of their deposit
check.
What happens next?
After the prospective resident has been approved we ask to set
up a time to sign the TAA lease for the property in question.
If a prospective resident has a pet (no puppies or Pit Bull's)
a TAA Animal Addendum and Pet Deposit is required. When the
time comes for the tenant to move-in, a full months rent must
be paid regardless of when occupancy starts. A copy of the lease
(if it has not already been given), a TAA Move-In Inventory
form and the keys are given to the tenant and they are instructed
to transfer the utilities into their name.
Where does the rent go?
DFWCityhomes maintains a banking account for rent receipts and tenant deposits. When the monthly rent check is received,
it is deposited into the operating account. After the rent has
been collected, DFWCityhomes collects a management fee and
issues a check directly to the Owner. DFWCityhomes responds to emergency
calls 24 hours a day and seven days a week. A repair person
is contacted and scheduled as soon as a problem is reported.
DFWCityhomes perform preventive maintenance every time a
property turns over to remedy small problems before they become
large ones. We only spend an owner's money for repairs when
necessary. If any repairs exceed $100, DFWCityhomes obtains
permission from the property owner before the repairs are made.
How often do Owners get reports?
Owners are provided reports as frequently as they want them;
either monthly, quarterly or annually. These reports show all
monies into and out of the accounts and represent a year-to-date
history of all income and expenses associated with the property.
After the end of the calendar year, in addition to this detailed
income and expense report, a Proforma P&L is provided to the
owner so that he may prepare his tax return. Files are kept
with all receipts and cancelled checks in case they are ever
needed at a later date.
How Soon Can DFWCityhomes Start Managing My Property?
We can start the process right away. We will start by obtaining
some information about you and your property and helping you
decide if we are a good fit for your needs. To begin click on
the link below.
Click
here to request information about leasing your home
