At Accel Property Management and Investments LLC, we are committed to handling the day-to-day details of your rental investment so you can enjoy your investment without worries. At Accel Property Management and Investments we provide:
Assistance in Determining an Appropriate Rent
We utilize our market knowledge to assist you in determining a fair market rent that will be competitive, yet provide you with the highest net return possible on your investment.
Advertising to Find Qualified Tenants
We use a comprehensive approach to advertising to ensure your property is exposed to the maximum number of potential renters. We advertise on a variety of internet sites. We utilize yard signs. The services of the MLS are available at your request. You determine the leasing fee paid to the co-op agent on MLS listings.
Tenant Screening Services
We offer an extensive screening service to ensure the potential tenants are qualified to rent your home. All potential tenants fill out an online rental application. They are screened for their credit history, a criminal background check, and a rental history if they have been renting. We require an income of 3 times the asking rent. We verify their source of income and require copies of their photo ID.
We are a licensed brokerage by the Texas Real Estate Commission and members of the Texas Realtors. We use the Texas Realtors lease which is a comprehensive document designed to cover all aspects of the leasing process. The lease incorporates the current Texas Property Code & is updated frequently. Our lease takes a pro-active stance to prevent problems in the leasing process and make each party aware of their responsibilities.
We inspect the property at the beginning of a lease period to ensure the property is safe and meets all the requirements of the Texas Property Code. We do periodic checks of the property when vendors perform repairs.
We believe it is essential to maintain your home to preserve your investment. Because of this we work with preferred vendors for our repairs. Our vendors have been screened for their quality of work and dependability. Working with our vendors ensures your repairs will be done in a timely and cost effective manner. A follow up system is in place once repairs have been done to ensure repairs have been done to our standards.
You will receive an itemized statement each month detailing the income received as well as all expenses charged such as management fees and repairs. Your net profit for the month will be direct deposited to your account on the 14th or the 24th of each month. Owners may request to have a check mailed. In January you will receive a Profit & Loss Statement for the prior year and a 1099 for your rental income.
Q. HOW LONG IS THE DURATION OF THE LEASE?
A. We recommend a 1 year lease. Less than a year the turn-over is too expensive, more than a year can be limiting since we don’t want to be locked into a rent or find the tenant may not perform per the contract. However, you own the property and we tailor the lease to fit your needs.
Q. WHAT IF THE TENANT DOESN’T TAKE CARE OF MY PROPERTY?
A. Our lease contract spells out in great detail our expectations of how your home should be cared for. We reserve the right in our lease contract to do periodic checks with your tenant to ensure they are caring for your home. We also train our vendors when they are performing services to alert us to any problems in the condition of the property. We help protect you by recommending sufficient security deposits and choosing your tenants carefully.
Q. WHAT IF THE TENANT DOESN’T PAY THE RENT?
A. We write our leases with late fees starting on day 3 and provide for daily punitive charges as an incentive for tenants to pay rent on time. We contact tenants who are late in their rent to determine why the rent is late and when it will be paid. If payment is not promptly received after contacting the tenants they are issued a notice to vacate. If payment is still not received then we begin the paperwork process for an eviction after consulting with you. Each month we follow up with a written demand for any outstanding late fees to be paid with the following month’s rent. We follow our contract which stipulates the oldest charges are to be paid first with any monies received. This forces tenants to pay any outstanding late fees. If they choose not to pay the outstanding fees their new rent is short & they acquire new late fees. All late fees received are split 50/50 with our owners.
Q. HOW WILL I KNOW WHAT IS GOING ON WITH MY PROPERTY?
A. You will receive monthly statements from us for the financial aspects of your property. If there is a needed repair above the reserve limit we will contact you. You are always welcome to email our office for an update or concern you have with your property. We believe communication is good and we strive to keep you informed of what is going on with your property.
Q. HOW DO YOU HANDLE REPAIRS AND DO YOU REQUIRE MONEY TO BE HELD FOR POSSIBLE REPAIRS?
A. We require $350 to be held in your account for potential repairs. For repairs under $350 we will not contact you before repairing. For repairs in excess of this amount, we will contact you prior to authorizing the repair. If we see the need for additional repairs or deferred maintenance that needs to be done, we will contact you. Emergency repairs above $350 we will attempt to contact you, however, if you cannot be reached Texas Property Code required repairs will be done to follow the law and you will be asked to reimburse for those expenses.
Q. AM I CHARGED A MANAGEMENT FEE WHILE MY PROPERTY IS VACANT?
Q. WHEN WILL I BE PAID?
A. We pay owners on the 14th and 24th of each month via direct deposit. If those dates fall on a weekend then your deposit will be on the next business day. To receive your direct deposit on the 14th your tenant’s rent must be received by the 10th. To receive your direct deposit on the 24th your tenant’s rent must be received by the 20th. You may also have a check mailed to you if you do not want direct deposit. Mailed checks are processed between the 15th and 20th of each month.