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Q: Does a Property Manager need to be licensed in Texas?
A: If you are a real estate investor considering hiring a property manager to manage your home, is that manager required to be licensed in Texas? The very easy answer is YES.
The state of Texas has several requirements that must be fulfilled before they will grant a real estate license. The applicant for a license must meet the following requirements:
- 168 hours of education
- Passing an exam
- Background check
- Insurance requirements
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Q: Aren’t all property management companies basically the same?
A: No. Some property management companies offer only limited services for discounted pricing; some firms are designed for owners who like to be very involved in the day-to-day management of their homes; and some firms (like Global Realty Group) are full-service firms designed to handle ALL aspects of the property management experience.
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Q: How long has Global Realty Group been in business?
A: Global Realty Group is a very experienced property management firm in the San Antonio Area, serving real estate investors and residents since 2004. We combine old school customer service (we actually return phone calls) with the most up to date technology to create an unmatched experience for our owner investors and our tenant residents.
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Q: What local and federal laws do I need to be aware of before I rent out my house?
A: There are multiple laws governing rental real estate including federal and state fair housing, habitability laws, tenant rights laws, applicant screening, rent-ready standards, and more. We ensure your property and the management experience is fully compliant with ALL rules, regulations, and laws.
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Q: Can I get some client references?
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Q: What is the cost for property management?
A:
Click here to view our fair and transparent pricing (with no hidden fees!)
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Q: Do I have to pay a management fee if my property is vacant?
A: No. We believe we should only be paid if you get paid. So, our management fee is a percentage of the actual rent we collect. If we do not collect any rent, or if the property is vacant, you don’t pay us anything.
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Q: How do you advertise my rental property?
A: Our extensive and proven marketing program attracts high quality applicants from a variety of sources.
Click here to view details.
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Q: How long will it take to get my property rented?
A: Properties that show well and are priced appropriately should rent in 30 days or less. We will give you price recommendations as well as weekly activity feedback to ensure we minimize any vacancy time. We use the current data per surrounding areas.
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Q: How do you screen tenants?
A: In depth tenant screening is the foundation of a good property management experience. Our in-house screening process utilizes technology plus good old fashioned landlords’ references to ensure we place high quality tenants in our properties.
Click here for details
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Q: Can I be involved in the selection of a tenant?
A: No. You can trust us to minimize the risk of a poor-quality tenant. Our applicant screening process has processed over 4,500 applicants and we know exactly what to look for in a high-quality tenant. We comply with all fair housing rules and regulations.
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Q: Do I have to accept pets in my rental?
A: Although you do NOT have to accept pets in your rental, over 70% (According to American Pet Products Association) of all tenants come with pets. That means that if you chose NOT to accept pets, you are reducing your prospective inquires by 70%. We do recommend our owner-clients allow pets.
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Q: Who provides the lease agreement?
A: We use approved Texas Association of Realtors promulgated forms to prepare lease agreements, designed to be fair and provide maximum legal protection to all parties. We also include a pet addendum, lead based paint disclosures, mold disclosure, and other approved forms that apply.
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Q: Do I need to sign the lease for a new tenant?
A: No. As your legal agent, Global Realty Group signs all of the legal documents on your behalf.
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Q: How do I access my financial reports?
A: Our owner-clients have a secure on-line portal which gives 24/7 access to financial reporting.
Click here for details Begin on page 15 of Real Page’s guide, Chapter 3
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Q: How do I get my money each month?
A: We close out the monthly accounting cycle and do a direct deposit of your funds by the 10th day of each month and another deposit for any returned payments by the 20th day of each month.
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Q: Do you review my rental property?
A: We perform a bi-annual mid-lease property review. The purpose of these reviews is to ensure the property is being well cared for, there are no lease violations, and to look for potential deferred maintenance issues before they become a problem.
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Q: What if the tenant does not pay rent?
A: We handle the entire rent collection process. Although it is rare should a tenant not pay rent, we handle the entire legal eviction process on your behalf.
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Q: How updated does my property need to be in order to rent it?
A: The quality of a property is equal to the quality of the tenant it will attract. Therefore, you want your property to be updated and CLEAN! We can take care of getting your property rent-ready to ensure it meets the state habitability requirement and attracts high quality applicants.
Click here for detail on our rent-ready standards.
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Q: Who takes care of maintenance?
A: We will handle all repair requests (even the middle of the night emergencies) and we use pre-screened, high-quality vendors.
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Q: Is there a maintenance or escrow reserve I need to pay:
A: We will handle all repair requests (even the middle of the night emergencies) and we use pre-screened, high-quality vendors.
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Q: Is there a maintenance or escrow reserve I need to pay:
A: Yes. We will collect a $300 escrow reserve from you for each property. This is YOUR money and it will be deposited into our bank trust account as the reserve for YOUR property. We will potentially use these funds to pay for expenses that may arise between the time we send you your rental income, and the time we collect the rent from the tenant the following month. But we will always maintain this $300 reserve as long as we manage your property. When we stop managing your property it will be paid out to you.
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Q: Who holds the security deposit:
A: Global Realty Group holds all tenant security deposits in our security deposit trust account. This is done to comply with State of Texas security deposit and trust accounting rules and regulations as determined by the Texas Real Estate Commission.
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Q: When the tenant moves out who does the security deposit return?
A: When a tenant moves out, we will do a property review and we will complete the security deposit return process. We will withhold any funds from the tenant’s security deposit that are legally due and allowable. Texas state law is very clear on what things may NOT be charged to a tenant’s security deposit and all security deposit returns are completed to comply with state law.
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Q: Can I do my own property repairs or use my own vendors?
A: While a property is vacant, you are welcome to do whatever make-ready work you would like to do on your property. When a tenant is living in the property, we do need to screen who is accessing the property for the protection of the tenant-residents. Therefore, we will use our pre-screened and pre-approved vendors. If you have a favorite vendor please give us their contact information – we are always looking to add new high-quality vendors to our group!
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Q: Can I use a home warranty company?
A: We strongly discourage the use of home warranty companies as they typically provide a poor experience and outcome. Click here to view more information on home warranty companies and what we recommend
https://www.youtube.com/watch?v=9__Uox07Yus
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Q: Is Global Realty Group the best option for every real estate investor?
A: No. We are a relationship-first based property management business and we work with owner-clients who are looking for a full-service experience. We do promise to educate you as much as we can about how we operate so that you can make the best decision for you and your portfolio and financial goals.
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Q: Can I negotiate or change the terms of the management agreement?
A: No. It is designed to allow us to serve our owner-clients with a consistent, high-quality, full-service management experience every time.
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Q: Can you help me buy or sell real estate?
A: Yes. We offer sales services exclusively to our owner-client group and we can help you buy another rental, or sell your current property when the time if right. We have closed over $45,000,000 in real estate transactions since 2004.
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Q: How do I get started?
