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.
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.
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.
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.
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.
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.
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.
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.
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.
Application criteria, processing, background checks and employment verifications are all handled by your property management team and our state-of-the-art software.
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.
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.
Your property management team will collect rent on your behalf and assist your residents with any questions or needs during their move-in process.
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.
Monthly collection of rent via resident portal or via physical check.
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.
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.
Our professional maintenance team will handle incoming maintenance requests, issue troubleshooting, scheduling for repair and monthly maintenance reporting.
Semi-annual property walkthroughs are performed by our professional maintenance team and trusted handyman vendors to ensure your property is always in optimal condition.
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.
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.