Property Management Services on the Texas Coast

Typical Property Management Services on the Texas Coast

Market the property for vacation rentals or long-term tenants

  • Prepare home for each rental
  • Check-in and check-out procedures
  • Clean home and optimize interior appeal
  • Manicure landscaping to increase curb appeal
  • Create ads tailored to the property and advertising medium
  • Advertising mediums include:

Work with other agents to find renters and tenants

  • Provide a 24-hour hot-line for prospective tenants about the property
  • Handle calls from prospects for questions and viewings
  • Provide prospective tenants with applications that are legally compliant with fair housing laws
  • Collection applications, tenant screening and selection
  • Perform a background check to verify identity, income, credit history, rental history, etc.
  • Grade prospective tenants according to pre-defined criteria

Financial and Legal 

  • Provide accounting property management services
  • Make payments on behalf of the owner for mortgage, insurance, HOA dues, etc.
  • Detailed documentation of expenses via invoices and receipts
  • Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
  • Provide annual reporting, structured for tax purposes as well as required tax documents including a 1099 form, and advise owner on relevant tax deductions related to their rental property
  • Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses
  • Advise in the event of a legal dispute or litigation, and refer owner to a qualified attorney when necessary
  • Understand and abide by the latest local and state laws that apply to renting and maintaining rental properties
  • Perform periodic inspections on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.
  • Send owner periodic reports on the condition of the property

Maintenance, Repairs, and Remodeling

  • Provide and oversee an in-house maintenance crew
  • Establish a preventative maintenance policy to identify and deal with repair needs
  • Provide a network of licensed, bonded and fully insured contractors vetted for price and work that is up to code
  • Assign jobs to different parties (employees, handyman and contractors) based on value.
  • Maintain outdoor areas
    • Landscaping
    • Removing trash and debris
  • Maintain and monitor a 24-hour emergency repair hot-line
  • Larger renovation or rehab projects
    • Provide recommendations on how the project can maximize rental income.
    • Prepare preliminary cost estimates
    • Get multiple independent bids for the work
    • Act as general contractor overseeing the work

For long term rentals

Tenant Move In

  • Draw up leasing agreement, and confirm move in date with tenant
  • Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance
  • Ensure all agreements have been properly executed
  • Perform detailed move in inspection with tenant and verify condition of property prior to move-in.
  • Collect first month’s rent and security deposit
  • Rent collection, receiving rent, getting overdue payments
  • Sending out pay or quit notices, enforcing late fees, and evictions

Tenant Move Out

  • Inspect unit and fill out a report on the property’s condition when the client moves out
  • Provide tenant with a copy as well as estimated damages
  • Return the balance of the security deposit to the tenant
  • Forward any portion of the owner’s portion of the tenant deposit to the owner or hold in owner reserves for repairs.
  • Clean unit and perform and needed repairs or upgrades, and Re-key the locks
  • Put the property back on the market for rent

Want to do it yourself?

Get this book How to Set Up and Run a Successful Airbnb Business