Are you considering leasing out your home instead of selling? You’re not alone. What can happen to you as a landlord? What do you need to know? With the cost of a sale transaction averaging about 8% of the value of the home, that’s a......
We are located in Austin and currently service Travis, Williamson, and Hays counties, with plans to expand into other areas soon. Unlike many of our competitors, our salespeople and property managers are all local, providing quality management for every property in our service area.
1836 Property Management is a proud member of the National Assoc. of Residential Property Managers (NARPM). Founder Matt Leschber served as president on the Austin board of directors for NARPM in 2015. Matt and team have also served on the Texas Association of Realtors Statewide Property Management Committee and the Property Management Committee with the Austin Board of Realtors.
When founder Matt Leschber started in the real estate business, he saw an opportunity. What if, instead of handing off our clients after they’ve closed on their property, we were able to support them as they manage their real estate investment for the long-term? Our clients’ happiness is important to us long after they’ve bought their property. Therefore we set out to offer the kind of property management care and service that we would trust, as property investors. Matt created 1836 Property Management to support property owners throughout the lifecycle of their investment. Learn more about 1836 Property Management.
We are investors as well! We have seen the financial success that real estate investing can bring and we practice what we preach.
It’s not what you see; it’s what you don’t see that sets us apart from our competition. How do you know you are getting superior service, oversight, and care? You’ll have fewer headaches, and get fewer calls. While it’s hard to feel confident in a provider who you rarely hear from, this is precisely what happens when things are managed well! Prevention is underrated.
We have over 30 years of combined experience. Founder Matt Leschber is not only our real estate broker of record, but is also a professional real estate inspector and has experience as a loan officer.
We own rentals ourselves! Whether it’s taking out the trash or securing the best tenant and lease possible, we’ve done it all.
Our founder, Matt Leschber, wrote the book on property management. Check out Property Management #0811, available through St. Edward’s University and the Austin Institute of Real Estate.
We are here to exceed your expectations and give you the peace of mind that your property is in good hands. We pride ourselves on consistency, honesty, stellar communication, and the application of common sense.
Phone support is available M-F 8am-5pm through our main number, 512.994.4323. While our walk-in hours are M-F 9:00 am-4:30 pm, we frequently respond outside of those hours to ensure proper service, handle emergencies, return emails, and deal with time-sensitive issues. Please send us an email if you need an answer that will require time to research. View all of our contact info.
Hire an expert property management company to ensure you reach your goals. As soon as a management agreement in place we start working for you. We have a legal fiduciary responsibility to you, the owner. We are entrusted and empowered by our owners to make the daily decisions necessary to ensure the lowest liability, lowest tenant turnover, and highest return on your investment. 1836 handles troubleshooting and sticky situations, we handle the accounting, and we provide expertise and save you time and hassle. We deliver a wealth of knowledge, resources, local vendor connections, and people on the ground when problems arise and maintenance is needed. Learn more about our property management services.
It’s imperative to have a reliable source 24/7 resource than tenants can reach in the event of an emergency. Included in our services is a 24-hour call center that receives any maintenance calls tenants may have, documents them, troubleshoots with experts, and can even dispatch if the calls meet specific criteria.
While someone is always available for emergency calls, prevention is much better. Some issues may be resolved without after-hours technicians, saving you money. Through our online orientation videos, 24/7 troubleshooting technicians, and detailed policies and procedures, we prevent many “emergencies.” This extra effort makes all the difference for tenants when problems arise.
We visit our managed properties at least twice per year, no matter what, and walk the premises inside and out. Learn more about what our bi-annual inspections look like.
Have a special request? Let’s talk. Each particular request there is another opportunity for something to fall through the cracks. Therefore we like to manage properties against standard set policies and procedures and deliver perfection. You might be surprised to find some of your desired premier services are part of our routine service. Let us know your request. If we cannot meet your exact request, we can recommend different approaches to serve you best.
We’ll be happy to coordinate the transition with the other company once we have a signed agreement in place. Many of our best customers started out with other companies. We welcome your business and will be happy to work with you and your existing property manager to handle all the details. Email us today!
We currently work with home warranty companies for some of our customers. There is additional labor required to coordinate and follow-up with these companies, so this is only included in our premium Gold and Platinum management plans. View our property management plans and pricing.
Find out more about the pros and cons of working with home warranty companies.
We advertise your property on the MLS, 60+ syndicated sites, and more than 50 additional websites. But advertising is only the beginning, find out what goes into an effective property marketing campaign. Learn more about our industry-leading marketing package.
This depends mostly on the price, the quality and condition of the property and, of course, the time of year and current market conditions. With some of our management plans, we offer a 30-day leasing guarantee.
As your property management partner, we will apply our experience and market knowledge to help you set the best price for your property. We also provide a checklist for owners to prepare your property for rent. Doing a proper make-ready will ensure that it’s available to show, priced right and that it rents quickly.
Your 1836 Property Management team will get to know you and your tenants so that we can provide the best service. As an owner, you’ll have 24/7 access and secure login to our online system. There you can run an array of reports, view documents such as a copy of the lease, our management agreement, and maintenance invoices, and much more. You are paying us to look after your property, so enjoy your vacation, weekends, and personal time! Log in to the owner portal.
Our website will contain the most up to date information available, but you can always email or call us if you have a specific concern.
We do not issue keys to anyone, including owners, as this increases liability and risk for all parties. Our job is not only to ensure that we serve you and protect the tenants but also to lower your overall exposure to lawsuits. From the day a new lease starts you no longer have occupancy rights. Think of your property as an asset, that you retain ownership rights only. For tenants safety, we don’t allow anyone to “pop” by to inspect the home. While we can enter the house immediately in the case of an emergency, we do our best to notify the tenants of any other intrusions. Learn more about how we lower your liability and exposure to lawsuits.
The most important thing we can do before signing a management agreement is to ensure that our investors know what to expect and when to expect it.
Typically, no news is good news. You’re paying us to deal with the headaches, non-emergency emergencies, late night calls, complaints, and minutia, so sit back and enjoy time with your family or friends. Our focus is on keeping your property leased and profitable, and keeping you happy!
Here are the instances when you should expect to hear from us.
When we first go live on the MLS, we will send you a copy of the listing.
Weekly on Tuesdays, only if pricing is adjusted. We evaluate the market conditions, run comps, and make adjustments for your greatest ROI, only if needed, on this day.
Once we have a signed lease in place, we will send you an email with the move-in date, the lease-end date, and the monthly rental rate.
When there is maintenance needed above our repair limit.
Notification of tenant turnover, whether it is proper notice, improper notice, or a solution to a problem situation.
Throughout the year for any special events, unusual situations, or site reports we conduct at your property.
When will I get my money each month?
Rent is due on the 1st and is late on the 2nd. It takes the bank up to 7 days to ensure that the funds process. Weekends or holidays can extend that another 2-3 days. You will receive the funds in your bank account no later than the 18th of each month. Our target is the 16th. It’s important to keep in mind that rent is paid in front and mortgages in arrears. Thus the rent you receive on Jan. 1st corresponds with your mortgage payment due on Feb. 1st. We require the use of EFT/ACH debit to speed up the receipt of funds. This also speeds up rent collection from tenants. Log in to the owner portal.
“Move-ins” may occur on any day of the month and rent is prorated according to the move-in date. For example, if rent is $1500/month we may only receive $750 on move-in day. We pay all bills on the 10th of the month or the following business day. Then we disburse any funds above the property reserve to the owner. Therefore, if you have a tenant who moves in mid-month, it may be 30 or 60 days before funds reach an owner’s account after covering expenses. The disbursement of funds happens once the rental income exceeds the bills and excess funds are available.
UT housing is unique in a few ways. The first thing to know is that this UT housing operates differently than others part of the real estate marketplace. UT housing follows the university schedule. Therefore if you end up with a vacancy mid-term, it could last at least until the start of the next term. We recommend that you do a few things to ensure performance and stability of your property. Learn more about what you should do if you have a UT housing investment.
Our goal is to keep money flowing, the property well maintained, and to reduce your risk. The third part of that equation means reducing the risk of a vacancy at a bad time of year or when least expected. Therefore as a policy, if we don’t confirm receipt of written notification from an owner more than 90 days from the end of a tenants lease, except student housing/UT*, we will act to renew your tenant.
Most of our leases have a 60-days notification requirement, at a minimum, from either party. Tenants are aware of this as well and are waiting to renew their leases 90 days in advance or more. Paperwork, negotiations, planning, moving or not moving takes time. For the best outcome, we must plan ahead.
Prefer to change directions with your rental property? Notify your property manager in writing and confirm receipt of your notification, more than 90 days from the end of your tenant’s lease. We’ll be happy to assist you as appropriate.
It is not in your best financial interest to wait until the last minute or to attempt to plan the sale of one property with the purchase of a primary residence. There are too many things that can go wrong. Planning a year or two years out is the only way to ensure the best outcome.
*For student housing be aware that some properties lease one or two years in advance. You will need to plan well ahead.
We can solve it. Give us a call to talk through your specific situation. We mediate and handle tough tenant situations for our clients as part of our full-service property management service. Learn more about our eviction-only services. Additionally, we’ll be happy to refer you to a trusted local attorney for your precinct.
Our tenant success rate is 99.5% annually, and that is because our tenant criteria has been honed over 12+ years. Thorough applicant screening is about more than simply running background and credit checks. 1836 uses the same criteria for all of our personal and managed properties. Learn more about how we evaluate your potential tenants.
We do not disclose our owners’ personal information to our tenants or our tenants’ information to our owners. Sharing sensitive information is not a wise business practice and can be illegal. Learn more about the statutes on information-sharing.
First, we ensure that everyone is safe and the problem is isolated or stopped. Next, we investigate the problem, troubleshoot, evaluate our options, determine the best course of action. Lastly, we coordinate with the owners, insurance companies, and tenants, if necessary, depending on the options and costs anticipated. We handle each issue, never forgetting that our fiduciary duty is to you, the owner, and we honor our contractual obligations with all parties.
If the damage is the tenant’s responsibility, and it’s caught early enough, we seek payment and repairs from them, and we oversee the repairs. If it’s hidden until after their departure, we utilize the security deposit first and may then pursue them through legal means and collections, if necessary.
First, we document the condition with photos and a written report and compare it to the move-in documentation. We may use a 3rd-party inspection and documentation company at no cost to you as an owner as well as obtain vendor estimates. Then, we will determine what is “normal wear and tear” which is, by state law, the owners responsibility, and what is “beyond normal wear and tear” which is the tenant’s responsibility. The repairs will happen at the same time to avoid duplicate or additional charges as they overlap. We will order the repair work and handle billing to ensure everything is coordinated efficiently. If additional funds are required from the owner for items such as painting or flooring we will present a written estimate and request funds for those repairs before scheduling the work. Time off the market or property that sits vacant is potential revenue lost, so we handle this process as quickly and efficiently.
*Note: When funds are due to an owner from a tenant’s deposit or tenant related damage, those funds may be held for 30 days to reduce the likelihood the deposit funds are disbursed should the itemization be contested in court.
The involvement of an owner in picking applicants is a considered a bad business practice, and it dramatically increases your odds of a federal fair housing lawsuit. It places more liability on your shoulders and can lead to the dissemination of sensitive personal information. Finding the highest quality tenant is what you pay us to do, as your property manager. We apply rigid requirements to each applicant, in the same manner, ensuring that tenants are selected on objective legal criteria and not with emotion. And, we never share applicants’ personal information such as credit reports, social security numbers, or dates of birth with anyone. Learn more about our tenant criteria.
As the property owner, you will pay the property taxes, mortgage, and the HOA dues. The tenants will pay everything else unless you agree to something specific. While some companies offer to pay your mortgage or HOA for you, we do not recommend this practice. USPS loses a considerable percentage of mail. Wouldn’t you rather be safe than sorry on something as important as your mortgage? Check out our e-book with more information on how to calculate your property expenses.
While the ultimate decision is up to our owners, our recommended pet policy is one pet, under 35 lbs*, or two smaller pets, no puppies (under 2 years of age), and no dangerous breeds. We’ve found this limited policy to be most effective overall. However, we’ve had no overly significant damage from being more liberal on pets. Keep in mind the more restrictive you are, the longer you’ll sit on the market.
If you decide not to allow any pets, you will more than double your vacancy time. The longer your property sits vacant, statistically speaking, you’ll increase your costs more than the risk of potential damage by pets.
*We allow for some exceptions when it makes business sense because we have a fiduciary obligation to your best interest.
Providing a property that’s pest-free and is adequately sealed to prevent the entry of pests is the landlord’s and manager’s responsibility. If we need to do an initial spray or maintenance to seal the home that’s the owner’s responsibility. In a single-family residence, if tenants experience pests during their stay, other than wood destroying insects, possums, raccoons, squirrels, or similar, it’s their responsibility. In multi-family dwellings with shared walls, the cost of pest control will be the owner’s or the HOA’s responsibility, depending on the scenario.
Please request that your HOA copy us on all notices to cut down our response time. If you receive a notice, forward the entire note to us right away so that we may follow up. If you get fined please forward to us a copy of the bill. We will post fines, send copies of the notices to your tenants, handle property maintenance, and send tenants the bills as necessary. Failure to submit notices to your property manager could result in additional fines from your HOA for which the tenant is not responsible.
Pay any and all HOA fines immediately. We will note the funds due to you on the property account and will reimburse you as soon as the funds are either paid or become available from the deposit.
It’s cheaper to “float” a $40 fine for 30 days than it is to evict a tenant who pays on time but forgot to mow the yard. If the issue continues to be a problem or the fines begin to stack up we can always evict someone for breaking the lease, but that should be the last resort as it’s very costly for the owner.
Currently, we are not taking on any new Section 8 related properties. Contact us for more information on this topic.
Over our years in business, 1836 has developed relationships with trusted vendors who will show up and who will warranty their work. Keep in mind that property maintenance is not the same as property management. Outsourcing maintenance to our preferred vendors, allows us to efficiently manage your property and keep your tenants happy and renewing.
We will provide you with one estimate from our preferred vendors. If you’d like to obtain other estimates by licensed, insured and bonded service providers you’re welcome to do so. We do not coordinate with or permit owners to do the work themselves, or arrange work through their friends on occupied properties. Maintenance must be done on time and to safety and code standards. Anyone completing work at one of our properties is required to provide a copy of their insurance to us and sign an extensive vendor agreement. Hiring an unlicensed vendor, just because they offered the cheapest rate, is not a good business practice, and can lead to further damages, theft, and tenant dissatisfaction.
You are hiring us to manage your property and the maintenance. We receive greater performance and consistency by using reputable, approved providers that we can count on and who ensure client satisfaction.
This is handled on a case by case basis depending on the severity of the repairs. We have contractors who handle small and large jobs. We always troubleshoot before sending someone out. Learn how much you should put aside for maintenance on your investment properties.
Our approved vendors are licensed and insured and follow specific billing and procedural requirements. In the case of occupied properties, we need to be able to respond to the needs of the home and tenants quickly and efficiently, ensure our standards of service and cleanliness are met. One negative comment about an unprofessional service provider can open us all up to a federal fair housing lawsuit. Thus owners and their friends are not allowed to do maintenance on a property that we manage without first being approved as one of our vendors. If this is for a one-time job, they are unlikely to be approved.
We have approved vendors that provide quality services and have proven themselves to us over time. Using our preferred vendors is not for our benefit, but for your long-term comprehensive benefit. When keeping properties well-maintained, we believe it’s always less expensive to do things right the first time and keep tenants happy. Learn more about what’s included in our property management packages.
Please keep in mind that we have a legal and ethical obligation to maintain properties that we manage correctly. Tenants’ rent includes the expectation of living in a maintained property.
We recommend that you put away at the very least 10% of the money you bring in for maintenance needs, 20% would be very conservative. While there is no guarantee, we’ve found the majority of this varies according to the agent of the property.
Thus out of $1500 monthly rental income, you should be saving a minimum of $1800/year for maintenance. Maintenance may include big items such as replacing a water heater at $1200 or an HVAC system at $6000. It may also include gardening and landscaping to draw in tenants, painting, cleaning gutters, repairing fences, fixing leaky faucets, repairing garage door openers, bringing that 1965 wagon wheel light fixture into the new millennium, and more. If you skimp on maintenance, you can expect significant expenses down the road, lower rental income, higher turnover, and more vacancy. Expect to maintain the home if you want the maximum return on your investment.
Just for reference, the IRS depreciation for a single family residence is the value divided by 27.5 years. Thus a $150,000 home would cost over $5,400 per year to be maintained appropriately.
All funds requested from owners to pay vendors and for repairs must be received within 10 days of such request. Should funds not be received by the 10th calendar day and an owner knowingly allow their reserve to be depleted below zero, the owner will be charged $30 for an overdraft charge. This overdraft charge is exclusive of any interest charges incurred should funds need to be borrowed from management to pay a vendor.
In the event of non-emergency, we will make a reasonable effort to contact owners with at least one email and one phone call, leaving a message if able at a bare minimum. If we don’t receive a response within 2 days, we will try to reach the owner through their emergency contact on file.
If no response is received utilizing both contacts, we will proceed as required for any repairs to a property to maintain the overall value of the property and our obligations to the tenants.
Should estimates be provided to owners for non-emergency items and an owner not reply with either permission to proceed or request for further information, the property manager will attempt to contact that owner by email and a phone call, leaving a voicemail message is available, at least one time each. If we don’t receive a response within 5 business days, 1836 Property Management will proceed with the repairs as required to care for the property and our obligations to maintain such property for the tenants.
Cheap and easy usually end up being expensive and problematic in the end. Our policy on appliances is as follows:
When at all possible we will use our preferred vendor to eliminate the vast majority of problems with scheduling, installation, and warranty issues. This also covers other expenses such as meeting the contracted delivery team on site and no-shows, etc.
When required to use Lowe’s/Home Depot, etc., we will do our best to schedule deliveries for all new appliances with tenants. This will help avoid charges but may not eliminate the need to remove old machines, verify condition at delivery, nor the need to have additional electricians or plumbers out for repairs or solving installation difficulties.
When delivery to a vacant home is needed, we will require delivery by a local handyman from the big box store to the property. That handyman will provide pickup, delivery, installation, and removal of old appliances as required. The owner is in charge of all costs.
The best way to ensure your overall satisfaction is to ask questions and listen to your particular situation and goals. Next, we discuss what type of services you may need. Then, we can talk details and pricing specific to your needs.
Over the long run, a great manager who applies insight and care may cost you on a few bucks more per month but will save you thousands in frustration, lost rent, vacancy, maintenance problems, turn time, and property deterioration due to lack of oversight. We consistently hear how hard it is to get other property managers to return calls and emails. Experienced investors know to look below the surface to reduce avoidable expenses and increase tenant retention.
Why would almost half of the industry charge nearly the same rates? Simply put, there are costs to do the work correctly. Finding an outlier who is willing to do the job at less than half of the industry-standard rate should give you pause. You do get what you pay for in this instance. If you’ve ever run a business, you know that you’ve got to make a certain amount of gross revenue to deliver quality. It’s basic math. Learn more about goes into property management rates.
Our goal is to ensure the property, and related processes are properly managed, and that we exceed your expectations. We strive to offer a high level of customer service that saves you money over the long run while maintaining your investment for years to come. Companies that charge $50/month cannot offer you this level of service. Learn more about the services and care that go into our pricing.
We’re happy to serve you. However, we have minimums in place to ensure quality and performance. We have established these guidelines to ensure that our staff can afford to offer exceptional service daily and when the unexpected arises. You’ll find that spending a few extra bucks on proper maintenance and excellent management today, can easily save you big bucks down the road. Learn more about our minimums and our property management packages.
Four percent is our rate for acting as your intermediary in the event of a sale to your tenant, as long as you were not referred to us by a local agent. The 4% fee includes work that is typically completed by both a buyer and listing agent(s). There are more work and liability involved in completing a transaction without an agent representing both sides.
Let’s run the numbers. Most real estate agencies don’t offer or mention property management as an option because they don’t provide the service or prefer to make a bigger sale commission. You need to understand your options so you can make the best decision for your specific situation. 1836 Property Management is happy to run the numbers for you for free. We’ve worked with a Ph.D. in Economics from Texas State and a Ph.D. in Business Administration from Brown University to produce a mathematical demonstration of why you should lease your property to build wealth vs. selling it to gain debt with another home. Whatever your decision, 1836 Property Management can list your property as a sale or as a rental property.
Ensure that you have put in a forwarding address with USPS for the bills and the utility providers. We need electricity, water, sewer, and gas service. If you have already cut off the gas and it’s not winter don’t turn it back on as someone will have to be home to verify there are no leaks. If it’s winter, we need the gas for the heat.
Are you purchasing the home? We can’t officially help you until you own the property which means closing and funding and sending us a copy of the title or settlement statement. Once we have that in hand, we can sign the management agreement and work on your behalf.
Tenant to tenant? Need to move utilities from one person to another? We handle this for our clients, saving you valuable time and more than a few headaches.
No. It not only complicates things but also subjects your personal property to theft and damage for which we’re not responsible. Owners do not have access to any property during a tenant’s lease term. Please make every attempt to empty the home of your possessions. This also sets the expectation for tenants that the house must be completely clean upon departure.
Ten years ago we said appliances were not a necessity, today they are. Tenants expect maintained appliances to be in place in every rental. Learn more about tenant expectations for various rental price points.
Once our management agreement is signed, 1836 will create a new account for you. Owners use that account to transfer money to our operating trust account and have it tracked. Our online portal uses the ACH debit system. Log in to owner portal.
We’ll send you a management agreement. This management agreement may be signed off electronically. Then, we’ll coordinate picking up keys from the title company, if this is a new investment, or set up a time for access as required. Contact us today!
In addition to the management agreement, signed by all owners and managers, here’s the short list of necessary items to help you get prepared:
Owner’s notice of condition, filled out, initialed, signed and dated.
Brokerage services information form, signed, dated and returned.
Lead-based paint notice, if required.
Access and funds:
Keys to the unit or property (preferably three sets)
Minimum of $500.00 to start the reserve fund for your property.
Additional make-ready fund as needed for general cleanings, carpet cleanings, re-keying of the property, and minor maintenance including yard work, etc. For extra cleaning or repair work, we can get an estimate for your approval then you can send in those funds through your owners’ portal.
First available date:
If the property is vacant or you are moving out, we’ll need a “first available date” so that we can set up an appropriate timeline.
Please ensure that the services such as water, wastewater, gas and electric are left on at the property if you’re departing. If not we’ll turn them on for you.
Property management companies do not offer credit. Each owner is required to send at least $500 to 1836 as operating budget. These funds are not a fee but instead working capital so that we can adequately manage your property and pay bills as they are due. These bills can include turning on the utilities, getting the property re-keyed, getting the smoke detectors and locks up to code. On a monthly basis, we use these funds as needed; then your account is replenished with the rental income. Anything above the reserve, not previously approved for repairs, is sent out to owners each month.
Should you reach the end of the management agreement and want to change directions, if you have a zero balance, we will return the owner’s reserve to you at that time.
You can cancel at any time however there may be fees due for services rendered. This is very similar to purchasing a cell phone with no money down and signing a long-term contract. That contract enables the wireless carrier to recoup the cost of the phone.
We have a similar arrangement with our clients, which not only to ensures that we perform as intended but also to ensure that owners deliver on their part of the bargain. Our leasing fees are lower than our low-cost competitors, and some monthly plans require us to prepay fees to other agencies on your behalf. If you’re unhappy, you should not have to stay. However, if we spend money paying out expenses on your behalf, it’s only fair that we get reimbursed for those expenses. See our pricing page for specific details.