Search
Close this search box.

your investor journey

Steps to Success

welcome to your real estate investing journey

1836 Property Management Proven Processes

We aim to make your real estate investing journey in Austin, Texas, as easy and successful as possible. As an investor, you understand the numerous moving pieces that require constant oversight to ensure maximum investment performance is successful. Below are our specific steps to success.

Creating the Roadmap

Alignment: Services and Goals

Discovery

STEP 1

Discovery Call

Jump on a quick call with one of our property management specialists to discuss your needs and goals for your Austin real estate investment. Your situation and goals are the focus of this call. We will discuss the how, when and why that’s driving this investment. If we don’t have a roadmap, we can’t get there and we’re here to get you to your destination.
Analysis

STEP 2

Analysis

Our team will get to work building a strategy for the lifetime of our partnership with you and your rental property. Using our industry knowledge, we will align your goals with a specially-crafted “Go-to-Market” plan – including a rental estimate, make-ready recommendations, and a property marketing plan. 

Agreement & Paperwork

STEP 3

Agreement & Paperwork Sent...Then Signed

Every great partnership should have rules of the road. We’re here for your best interests and being on the same page allows us to deliver the best outcome possible. 

Intro to Onboarding

STEP 4

Introduction to Onboarding

During this first phase of the agreement, it’s all about ensuring that we have a clear understanding of what your real estate investing goals are, and that you have a clear understanding of what our partnership and services will provide. From the discovery call, to paperwork agreement, to an introduction of our backend processes and procedures, we’ll guide you every step of the way. 

Starting The Journey

Preparation: Paperwork, Funding, and Property

Property Reserve

STEP 1

Property Reserve, Deposits & Utilities

Your team of property managers and onboarding specialists will step in to get the appropriate reserve funds, utilities, and deposits situated for your rental.
Evaluation

STEP 2

Evaluation

Your property management team will run a rental property and market evaluation to ensure that you’re ready for market and at the right rental rate for the location and specifications, all so that you get the best resident in place quickly. 

Approval & Funding

STEP 3

Approval & Funding

Should any repairs or legally required modifications be necessary, we’ll gather estimates, seek your approval if they are above our agreed dollar authorization and gather any necessary funds to approve and proceed. 

Make Ready

STEP 4

Make Ready!

Based on our initial evaluation, this will be the time to get your property looking its best and functioning properly. Make it ready for move-in so your resident can truly call it home.
Security Deposit

STEP 5

Security Deposit

If you already have residents in place, we’ll collect the security deposit from your prior property manager and hold it in our trust account per state law. We also offer an optional service which provides you and your previous resident with a list for the security deposit itemization. 

Market Property

STEP 6

Photograph, List, & Market Property

This phase is all about getting your property funded, prepared for online marketing, and to start rolling in rental applications. Professional marketing photos and video (if applicable) will be prepared to make your rental property competitive while it is professionally marketed on the Austin MLS, over 50 top rental websites around the world, as well as, to the clients that our partner brokerages represent. 

Your team of property management professionals will help guide you toward ensuring your property is priced correctly and is in proper condition to go to market. Doing your due diligence in the beginning will give your rental property its best chance to succeed by getting the best resident under contract and by keeping them in place for the long haul. 

On The Road

Acquiring: Residents

Listing Updates

STEP 1

Listing Updates

Your property management team will deliver a weekly update with the status of incoming applications, showings and market performance. Based on this information we’ll make pricing and condition adjustments to meet the market demand. 

Processing

STEP 2

Application Processing

Application criteria, processing, background checks and employment verifications are all handled by your property management team and our state-of-the-art software.

Sign & Collect

STEP 3

Sign & Collect

Once a resident has been approved, your property management team will create the legally required leasing documents, disclosures, etc. and transmit them for electronic signatures. Once signed, we’ll verify all applicable paperwork and collect the security deposits to prepare your new residents for move-in. 

Verify Property

STEP 4

Verify Property Is Ready

We’ll send our maintenance professionals to your rental property one more time before your residents move in to ensure everything is as it should be and to document the condition for a future security deposit itemization. 

Move-In Residents

STEP 5

Collect Rent & Move-In Residents

Your property management team will collect rent on your behalf and assist your residents with any questions or needs during their move-in process. 

Rent Collection

STEP 6

Start Ongoing Rent Collection

Your property management team will manage rent collection throughout the lifetime of the resident’s contract and will disperse payment directly into your desired bank account. You’ll be able to monitor all of this in real time via your investor portal. 

Enjoying The View

Ongoing: Monthly Management

Rent Collection

Monthly collection of rent via resident portal or via physical check.

Pay Bills & Disperse Funds

Your property management team will pay any necessary bills associated with your rental (i.e. maintenance repairs, lawn service, etc.) and disburse remaining rent allocation to your designated bank account. You can even see all income and expenses in real-time (24/7), as well as, copies of invoices through your investor portal.

Lease Enforcement

Your property managment team will ensure that your residents are consistently complying with the terms of their contract. If any violations were to occur, your team will take the necessary measures to address and remedy the situation.

Maintenance

Our professional maintenance team will handle incoming maintenance requests, issue troubleshooting, scheduling for repair and monthly maintenance reporting.

Resident Requests

Your property management team will handle all incoming resident calls and emails on your behalf; including maintenance issues, rent payment, general account questions, etc.

Property Walkthroughs

Semi-annual property walkthroughs are performed by our professional maintenance team and trusted handyman vendors to ensure your property is always in optimal condition.

PMA Renewals

This is the best time to review the numbers. You senior property manager is available to review the performance of your investment, provide updates should there be any, and initiate your property management agreement renewal. Don’t hesitate to ask for one of our free returns on equity evaluations.

Lease Expires & Renews

When your resident’s lease expiration is within the next 90 days, your property management team will step in to evaluate rental rates and initiate the lease renewal process and agreements.

So What If My Current Resident Decides Not To Renew?

If your current resident decides not to renew, then we restart the process, beginning with Deposits & Utilities. Your team of 3 property managers will step in to get the appropriate utilities and deposits situated for your rental. 

Service Completion

We never like to see a partnership with one of our investors end, however, we understand that life calls for change at times. At this point, we will provide your with a wrap-up report detailing your income and expenses, much like a profit and loss statement, while being managed with 1836 Property Management.

Your Best Interests Are Our Top Priority

Owner Expectations

1836 Property Management Partnership Promise

We value your trust in 1836PM, and we believe you deserve a dedicated partner who has your best interests at heart. When you hire 1836PM to manage your real estate investments, you can rest easy knowing that your comprehensive long-term best interest is the goal. Below you will find further details related to our client-partner relationship.

Monday – Friday | 9 am – 4:30 pm

  • Excluding major holidays
  • Pre-scheduled phone and video calls are available during normal business. 

24/7 answering service

Available for all 1836PM clients and residents

24/7 emergency maintenance call center

Available for all 1836PM residents

Email communication

Most business is handled by email for efficiency, documentation & research time

Account Setup

Once the property management agreement has been signed and all addenda and details are received, it will take 1 business day to input all the details and fully set up your account across our systems

Owner Portal Login Information

Once you’re set up in our systems, you’ll receive an email with your login information for your 24/7 owner portal. 

Accounting information available through the owners portal:

All financial information may be found here in real-time. 

Paid invoices may be found by visiting the Accounting/Bills page and then selecting the paperclip icon on any bills you find/need access to. 

Unpaid bills can also be found here by visiting the Accounting page, then the Bills section and selecting Unpaid Only. (We pay all outstanding bills by the 10th or next business day. Until then it will appear as Due)

Visit the Reports page when you need a breakdown of income and expenses. (We suggest downloading the Income Statement Detailed and Property Statement)

STEP 1

Obtain keys, codes, cards and remotes to the property.

STEP 2

Maintenance reserve is funded.

STEP 3

Ensure all appropriate utilities are on.

STEP 4

Schedule then execute the initial property walkthrough and place lock boxes.

  • If repairs are needed, we’ll either complete them using your property maintenance reserve funds or send you a formal estimate for these items depending on the number and severity of the condition. Funds for the estimated items will need to be received to order work from the vendor(s).
  • We cannot put the property on the market until all repairs have been completed and it is vacant and ready. Please refer to the Make Ready Standards attached to your management agreement for a list of items we’ll be looking for. 
STEP 5

Estimated date of completion for the make-ready is received and confirmed.

STEP 1

After the home is completely vacant and "hotel room ready" we will schedule the professional photos and other marketing materials to be completed.

STEP 2

List the property on the MLS, syndication and leasing software.

STEP 3

Update provided every Tuesday by email including:

  • Number of showings
  • Feedback
  • Number of applications received to date
  • Recommended actions such as a price or condition adjustment. 
STEP 1

Application is received and reviewed for any missing details or attachments.

STEP 2

Application is processed and background check performed.

  • Processing takes 1 – 3 days
  • Applicants personal information is not shared in order to reduce identity theft and to ensure compliance with federal fair housing laws regarding discrimination. 
STEP 3

Based on results:

  • Applicants may be declined and will receive legally required Notice of Adverse Action.
  • Applicants may receive a counteroffer based on risk factors requiring Notice of Adverse Action. 
  • Applicants may be approved. 
STEP 1

Once the lease is fully executed, you will receive an email with the good news!

STEP 2

Partial and first month's rent is obtained.

STEP 3

We will process the leasing fees and pay any outside agent's commissions.

STEP 4

Utilities must be kept on until the lease start date.

STEP 5

A move-in report documenting the property condition will be completed just before the tenants take possession and move in. A final interior wipedown and lawn maintenance will also be performed, if necessary.

STEP 6

We will coordinate receiving funds and disbursing keys directly with the tenant.

STEP 7

After move-in, we will have the property rekeyed (as required by state law) and brought up to current Texas Property Code (keyless deadbolts, peep holes, pin locks, etc.).

STEP 8

All funds in excess of the reserve and pre-approved repair bills are disbursed monthly on the 10th or next business day.

  • Expect these funds to arrive in your account between the 15th – 18th every month. 
  • Most owners will not see a deposit on the first month because of the leasing fees and property code modifications. 

If repairs are requested from the tenant(s), we prescreen and troubleshoot before dispatching licensed and insured vendors.

Vendors are limited in scope per your management agreement for normal repairs and required to report tenant negligence

  • If the repair is under your maintenance limit, the vendor will proceed. 
  • If greater than your maintenance limit and not deemed an emergency, a written estimate will be sent to you for approval. 
  • Our approved vendors deliver honest, reliability, accountability, value and foresight. 
  • We strongly suggest putting 10% – 20% of your rental income aside, based on the age and complexity of your property, so you’re prepared for repairs as they come up. 
  • If you have questions, schedule a time to connect with our maintenance supervisor, your property manager or the vendor. 

No news is good news!

Tenant Lease Agreement

- 90 days before the lease expiration date, we will offer renewal options to your tenants.

The options we give them will be base on the rental analysis for your property at that time. 

- If the tentant decides to renew, we will confirm the new lease terms with you.

There is a renewal fee each time your tenant(s) renew, which is detailed in your management agreement. 

Property Management Agreement

  • 120 day prior to the lease expiration date, we will reach out to your regarding the renewal of your management agreement. 
  • If we are to change course for the future, you must notify us at this time. 
  • If you would like to proceed, please let us know by simply signing the new management agreement. 
STEP 1

If your tentant(s) decide not to renew, we will email you with turnover expectations.

STEP 2

Two weeks before your tenant's lease ends, we will schedule our maintenance team to place lock boxes on your property and we will pre-check the property for any make-ready items that might be needed.

STEP 3

The property will be put on the market either when we have contractual permission or when most appropriate based on the property and condition.

It’s been statistically proven that vacant, clean and ready homes spend less time vacant and lease at higher rental rates. There are also significant security concerns and delivery issues that arise from showing occupied properties. Because of these reasons, we list property once vacant and ready. 

STEP 4

After the tenant moves out, we will perform a move-out report and schedule repairs to be completed.

In Austin, the turnover process can take 2 weeks or more depending on the property condition and availability of vendors and materials. 

STEP 5

Within 30 days of the lease ending we'll itemize the tenant related repairs, withhold funds as appropriate, and return any remaining deposit ot the previous residents as required by Texas Propery Code.

Learn More

Comprehensive Property Management

Take a deep dive into our specific services and pricing.

Exceeding Expectations

How 1836PM Exceeds

Learn even more about how 1836PM works on behalf of our client-partners.

Start Your Rental Property Journey