Greater Dallas | Fort Worth Property Management Company
Are you searching for Greater Dallas and Greater Fort Worth property management companies that operate in the Greater Dallas, TX and Greater Fort Worth, TX area? If so, you need to look no further. At Region Realty, our property managers will take the burden off you, and manage your rental property and real estate investment.
What are the benefits of hiring a property manager?
- Many clients utilize our services because they simply don't have the time, energy or desire to manage their own investment property or deal with the day-to-day tenant issues.
- Some clients are investors and are located many miles away from their investment property and desire our 'local representation' so that we can respond and act on behalf of the property owner.
- Some investor clients elect to utilize a professional property management company like us simply because this avoids involving a relative, friend or associate, who may be willing and able, but could 'strain' their friendship.
- Many clients elect to retain us simply to avoid the necessity of their personal involvement with tenants, handling tenant disputes, dealing with rent collections, handling rent increases, lease renewals, screening for replacement tenants, responding to 'emergency' issues 24/7 which involve arranging ongoing and emergency property maintenance, and the headaches of dealing with multiple contractors.
- Our clients enjoy the personal 'cost savings' to them in terms of their time, effort, and energy, which is needed to manage a rental property on an ongoing basis.
Our Monthly Management Service
If you would prefer not to get a phone call at 3:00 am about a leaking water heater or an a/c that has gone out, this program is designed for you. Region Realty will handle all aspects of caring for your property 7 days a week and 24 hours a day. Listed below are a few of the many services included:
- Rent collection
- Supervise maintenance
- Payment of all bills and mortgages
- Monthly computerized statements
- Creative advertising / marketing vacancies
- Thorough verifications / credit screening
- Retain legal services (at Owner's cost)
- Advise of competitive rental / lease rates
- 7 days a week and 24 hours a day emergency availability
Our management fees range between 7-8% of the gross monthly income collected, with a minimum charge of $50.00. The actual monthly management fee is based on variables of services needed and number of properties managed. Leasing fees are calculated separately from the monthly management fee.
Leasing Service / One-Time Rental Service
If you prefer to handle the day-to-day management of your property yourself but you do not have the time or availability to market and show vacancies on a moment's notice, nor the expertise in choosing a new tenant, this is the right program for you. Region Realty will handle any or all of the following:
- View / show vacant unit(s)
- Execute rental / lease agreement
- Recommend required maintenance
- Collect first month's rent and security deposit up-front
- Creative advertising / marketing vacancies
- Conduct move-in inspection of the property
- Thorough verification / credit screening
- Turn over original document and funds to you
We then turn the day-to-day management back over to you.
Our fee for this service is 100% of one full month's rental fee. (Our property management clients enjoy a 20% - 35% reduction to this fee).
BELOW ARE A FEW OF THE FREQUENTLY ASKED QUESTIONS WE RECEIVE FROM OUR FUTURE CLIENTS:
What type of rental properties do you manage?
We are residential property managers. Our properties include: single-family homes, condos, townhomes, duplexes and other multi-family properties.
Do you use a well-written lease agreement that protects me and my property?
We use the Texas Association of Realtors Property Management Agreement, as approved by the Texas Real Estate Commission.
How strictly do you enforce the lease agreement after the tenant moves in?
We enforce the lease agreement very strictly, including: late fees, pet policy, unauthorized occupants, vehicle limits, HOA rules, lease term, and all additional terms and conditions of the lease agreement. If we become aware of a lease violation, the tenant promptly receives a violation notice and is required to cure the violation to avoid further action.
How are rental collections handled?
While it is doubtful that an eviction will ever be necessary, as we at Region Realty carefully screen all prospective tenants, occasionally financial hardships do arise requiring our prompt collections attention.
All rents are due by the tenant to Region Realty on the 1st of each month and late on the 3rd of each month. All residents who have not paid by the 4th of each month receive our first notice, a friendly reminder, placing them on notice. We also attempt to reach them by phone.
If rent is not received immediately (within 5 days) after the late notice is mailed, we will send to them (via certified mail) the Notice to Vacate for Non-Payment of Rent.
If the rent is not received by the date in the Notice to Vacate, Region Realty will file for eviction if necessary; while continuing to attempt to collect all monies due.
Our late charge policy is strictly enforced.
When late fees are collected, who keeps those fees - me or you?
50% of the late fees go back to you!
How often do you visit the property and / or make contact with the tenant?
- When your property is vacant, we will inspect it once a month. The purpose of this visit is to be on the lookout for any potential vandalism, illegal entry or other damage to your home.
- The next inspection is conducted prior to the resident's moving in. This is known as the 'move-in' inspection, where we detail the condition of your property on our move-in inspection form.
- We inspect the exterior of your home on a periodic basis and we also conduct other inspections when requested, or if we determine that checking the property out is warranted. You can sometimes (but not always) tell the interior condition of a property by its exterior condition. If the exterior is well-maintained by the tenants, it is a good bet that the interior is also being well-cared for.
- Within 90 days after the residents move in, we contact the residents to ensure that all is well with your property and your residents.
- We conduct interior inspections typically once a year or when warranted. We carry this inspection out usually when the tenant is present. We conduct this walk-through to be on the lookout for any potential violations.
- Between the 9th and 10th month of the resident's lease, we discuss with the residents their intent to renew their lease for another year. If they are not renewing, then we advise our leasing staff to ensure that we are able to get the home re-rented quickly with little or no vacancy.
- When the residents move out of your property, we conduct another detailed inspection known as the 'move-out' inspection. The move-out inspection is done to ensure that the residents returned the rental home back to us in the same condition as when they first rented it. If damage is found, then we impose a claim on the tenant's security deposit. If no damage is found, then we promptly return the security deposit to the former residents.
How do you handle repair requests made by the tenant?
Our tenants have the option of e-mailing, faxing or calling in a non-emergency maintenance request. Our vendors are required to contact the tenant within a 48-hours window. The vendor will inspect the problem and provide a quote while on-site. If the cost is more than your specified limit, we will verify your approval before beginning any work. If the tenant has an emergency maintenance issue, they are instructed to call our 24-hour phone number. These issues typicall require immediate approval. You may not be notified until the following business day. We strive to respond to and complete most ordinary repair requests within 3 business days or less, and all emergency requests within 24 hours.
How much money do you hold in reserve for repairs?
We hold between $150 and $250 in your account at all times. These funds are to be used if needed to pay for a repair after your rent proceeds have been dispersed. The exact amount depends upon the size, age and condition of your property - as well as the amount of recurring bills you would like us to pay for you (mortgage, etc...)
When will I receive my owner statement and check each month?
Owner statements and checks are mailed no later than the 15th of each month. These monthly reports show all deposits made, expenses paid out, and any owner contributions. Rental proceeds can be deposited into your bank account by ACH (electronic transfer) or mail. Also, end of the year reports are sent to all owners for tax purposes.
What property management and leasing fees do you charge?
Our property management fee is a portion of the rent collected. Our standard fee is between 7-8% of the monthly rent collected.
For our property management clients, the leasing commission is only 65 to 80% of one full month's rent each time a new tenant is located.
What other fees or possible charges do I need to know about?
It's rare that anything other than the fees above are actually charged to one of our owners, but your management agreement will have some of the following items listed:
- If you lose your rent proceeds check, there is a $36.00 replacement fee (our cost to cancel the check at our bank)
- We may charge for mailing / copy costs other than your regular monthly statement, such as if you want a copy of the tenant's lease mailed to you, or we have to send certified mail to your tenant or provide a copy of a large HOA Rules document to your tenant.
- All other fees are listed in the Property Management Agreement.
Do you charge a markup on typical maintenance or repair invoices?
No, we do not charge a markup on maintenance or general repair invoices where repairs or projects total $5,000 or less.
Does Region Realty have in-house personnel for maintenance and repair?
No, Region Realty does not have an in-house maintenance or repair department. We contract out all of this type of activity, using qualified, responsible and professional companies. We believe that it is a conflict of interest for the management company to physically perform maintenance and repairs - for we would need to justify the department's existence, i.e. it would have to generate repair work.
We contract maintenance and repairs only because they are necessary and prudent, not as a desire to spend your money or generate more income for us. We always strive to obtain your permission before contracting any maintenance or repair over $250, unless it is an emergency and we cannot locate you.
Do you charge a 'setup fee'?
No, we do not charge any setup fees.
Within which Texas cities do you perform property management services?
Our property management services are offered throughout the Greater Dallas and Fort Worth areas. Some of those cities include, but are not limited to: Addison, Allen, Arlington, Balch Springs, Bedford, Blackland, Caddo Mills, Carrollton, Colleyville, Dallas, Duncanville, Euless, Farmers Branch, Fate, Flower Mound, Forney, Fort Worth, Frisco, Garland, Glenn Heights, Grand Prairie, Grapevine, Halton City, Heath, Hurst, Irving, Keller, Lancaster, Lewisville, McLendon-Chisholm, McKinney, Mesquite, North Richland Hills, Park Cities (Highland Park and University Park), Plano, Quinlan, Richardson, Rockwall, Rowlett, Royse City, Sachse, Southlake, Sunnyvale, The Colony and Trophy Club.
What are the benefits of hiring Region Realty instead of another property management company?
- Competitive fee structure
- No 'setup fees'
- We don't charge you when your property is vacant
- Competitive leasing fee
- We do not charge a markup on invoices where the project totals $5,000 or less
- Easy Out Program: Don't need our property management services anymore? No problem. You can cancel our agreement by simply giving us a 30 day notice.
- Peace of mind
If you would like to take advantage of our property management services, please fill out the form below, or call us at (972) 980-8811.