Property Management

There are currently 29 blog entries related to this category.

As a landlord, you need to be prepared for anything. While the vast majority of tenants will be quiet, clean and polite (for the most part); almost every landlord that has been around for a while will have a story about at least one tricky customer.

Whether you have a drummer in a rock band who insists on playing loudly into the small hours, a tenant who is flagrantly subletting your apartment or someone who thinks they’re entitled to redecorate the property… you need to be ready to respond.

Then there are the situations where the tenant is perfectly pleasant but you need to change the terms of your contract for whatever reason. Again, you need to know how to proceed in order to secure the best deal for everyone involved.

Fortunately, landlords

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Choosing to make an investment in real estate, especially rental properties, can be an incredibly rewarding decisions and business can scale rapidly.

Many investors start by purchasing a single rental property and leverage those assets into multiple properties creating a compound return on their initial investments. However, more property means more of a need for management of those properties. And as appealing as investing in properties can be, it takes a special type of person to be equally as passionate about managing them.

Property management can be incredibly time-consuming and very stressful, especially for newer investors. That’s why so many investors outsource their property management as soon as they can. Hiring a property management

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Ensuring that you’ve found a quality tenant often requires rolling up your sleeves and doing a little investigating of your own. The right information won’t just come to you, and unfortunately, the typical verification methods are rarely enough. It’s easy enough to falsify rental applications, and not always easily recognizable, so landlords need to do their own research and double-check the facts.

To start, always run your own credit report. It may seem like the potential tenant is helping you out by providing a credit report for you. However, this option leaves room for the applicant to doctor numbers. Don’t take the risk: Just run your own report.

Along those same lines, double check the proof of residency and proof of employment. Today, most

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Keeping rent prices at market value is as important to property maintenance as any other component of upkeep. Most rental property owners realize this is just a reality of the business. Unfortunately, tenants aren’t always as understanding, and they’re certainly never pleased. With that in mind, we’ve compiled a few key considerations and best practices for property owners to make the transition as smooth as possible.

Keeping Costs in Perspective

Costs don’t determine rent; costs determine whether or not property owners stay in business. Don’t forget that rent has as much influence on overall property value as maintenance and conditions. A property owner who allows rent to fall below market is essentially allowing their property to deteriorate, just

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There is no questioning that Austin’s property prices have become quite expensive. However, there is reason to question whether or not those in the market for homes should find this so upsetting. When investors and homebuyers can get beyond the sticker-shock and take a look at the reasons behind the higher cost of real estate, those prices can become much more reassuring than disconcerting.

Over the past several years, Austin’s many thriving industries have resulted in major population growth, and therefore, real estate demand. Just last year, Austin's population exceeded the two million mark and is projected to go as high as 3.2 million by the year 2030. According to The Chamber's monthly Economic Indicators report, Austin is experiencing a 4.0% job

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As previously discussed, valuation services like Zillow (or Redfin, Trulia, etc.) are an unreliable source of home value information. To summarize: these services rely on AVMs, mathematical models that generate estimates mostly from comparable sales data. Limitations in the model and data—especially in non-disclosure states like Texas, where sales prices are not reported—compromise the accuracy of those assessments. With a variable and sometimes extreme margin of error, such services should not be the basis for significant financial decisions. In states that do provide such disclosures, this is not an issue, but if you’re looking in Austin, it is. Make sure to check your states provisions.

Inaccurate AVMs are prevalent and easily accessible, often the

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I don’t write these posts to be advertisements; I want to provide helpful advice to all owners.  We’re often praised by our clients for our policy on late fees from tenants (we believe that any late fees from tenants belong to the property owners – not the property management team), but there are many more considerations to be made when choosing the best company to manage your property. I want to share 3 of the most notable with you here.

When you’re looking into property management services, it’s vital to find the right property manager. You’ll want to look for a management team that views your property as the asset that it is, not just another leasing company that handles rent collections, repairs and gets your property ready to be leased once again.

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Like every property owner, you want to offer a great looking rental that attracts prospective tenants and rents out with little effort. You may be wondering if you have to pay an arm and a leg to accomplish this. The truth of the matter is, you’re better off financially if you make select repairs and upgrades on a schedule. You don’t have to tackle everything at once, but you can check one or two things off your list at a time. You’ll also want to be selective about which renovations or repairs take precedence. Here’s how you can accomplish this:

One of the easiest ways to attract the right kind of renters is to ensure that your property presents well.  There are several focus points for properties. We’ll break these down into the exterior and

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I moved to Austin over 15 years ago, and I have never once regretted that decision. I’m certainly not alone in my love for the city, over the past ten years Austin has seen steady growth, but 2015 was a particularly special year.

According to the US Census Bureau, Austin is home to a few of the fastest growing counties in the country. Travis County, for instance, was ranked 105 out of 3,143 counties in 2015. As mentioned, Austin has been experiencing stable growth for the past ten years, but Travis County's population has increased by 13 percent in the past five alone. Even more excitingly, this type of growth isn’t exclusive to just Travis County. The entire city has continued to grow at a rapid pace and the demand for property has followed suit.

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We’ve all heard the saying, “a picture is worth a thousand words”. It’s the old cliché way to say that we can gather a lot of information by looking at something. I can’t think of anywhere this is more true than in the context of property management. I like to think of it this way; if a picture is worth a thousand words, a well-maintained property is worth several thousand dollars - really. It’s no secret that well-maintained properties are much more valuable, but here at Monte Davis Property Management, proper maintenance is also a point of pride. 

Those who know me well will say that I’m a very easy-going guy, but if there’s one thing that really bothers me it’s neglected property. It kills me to see a property with great potential left to

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