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Rental Property Tenant Screening and Selection
MAXIMIZING YOUR PROFIT IS A PARTNERSHIP BETWEEN YOUR PROPERTY MANAGEMENT COMPANY AND YOUR RESIDENT
Every owner, investor and landlord wants the same thing…great residents for their investment. Anyone who has rented a property knows that the single greatest factor determining whether your investment makes or loses money, is the resident, or residents. In essence, bad residents will cost you money, good residents will keep you from losing money, and great residents will help you maximize your profits.
As a boutique Property Management Company, we pride ourselves in the ability to screen, select and build relationships with our residents. By educating the residents of your property on how to best care for it, we create a partnership with them that ensures you have the “great residents” you desire.
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5 STEP INVESTMENT PROPERTY TENANT SCREENING PROCESS:
Regardless of whether your rental property is as far south as Buda, in East Austin, or out in Leander, your property management company needs to be able to find the right tenant for your property. Over the years, we have developed a 5 step process to help guarantee that you get the right resident:
Step 1: Pre-Qualify potential applicants (before the application)
Step 2: The Application
Step 3: Comprehensive Tenant Screening Process
Step 4: Resident Orientation at Move-In
Step 5: Resident Education (Property Awareness)
PRE-QUALIFICATION OF YOUR RENTAL PROPERTY APPLICANT:
Because our residents are our partners, and not just a tenant, we ask them simple questions that let us know if we want to work with them. Questions like…
“Have you ever owned or rented a house before?”
“Do you have lawn care equipment?”
“Have you lived in an H.O.A. before?”
Simple questions like these lead to answers that give us a general overview of how a potential resident will care for your rental property, and determine whether to move through the rest of the application process.
Sometimes, owners will inform us that they simply want any occupant in place as soon as possible. But are you really looking for a tenant to move into your property the day after she or he sees it? That's not likely to be the case. Residents like that will be ill-prepared.
We prefer to handle prepared renters. If we get an applicant who approaches us with three, four or 6 weeks of notification, a property owner recommendation, and a structured plan to vacate from their current residence-- that informs us they are responsible, prepared and will be more apt to care for your investment property.
APPLICATION AND COMPREHENSIVE SCREENING OF YOUR NEW TENANT:
We use a standard Texas Association of Realtors application, (TXR-2003), and run the applicant through a comprehensive screening process, above and beyond the industry standards. Application approval is based on the following 12 factors:
- Bankruptcy Check
- Credit Check
- Criminal Check
- Collections History
- Employment Verification
- Eviction Check
- Income Verification
- Landlord Verification
- Pet Verification
- Public Records
- Sex Offender Check
Our screening process is not just based on a credit score only - we take a comprehensive look at the overall applicant. This process has proven to be extremely successful.
MOVE-IN ORIENTATION AND CONTINUING RESIDENT EDUCATION FOR RENTAL PROPERTY RESIDENTS:Most people believe that the Tenant Screening Process ends at move-In. For most Property Management Companies that may be true, however, because we consider our residents to be partners, we understand the benefits of working with them throughout the entire length of time they occupy your investment. Before we allow your new residents to take possession of your property, we meet them at your home and provide a complete orientation on how to care for your investment. We explain the “Why’s”, “When’s” and “How’s” so that they understand their responsibilities and exactly how we support them. And because they may be the stewards of your property for years to come, we provide continuing education, accessible to residents via online portals, to limit costs and depreciation over the life of your investment property.
“Monte, please find me the right tenant” - every property owner we service
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Owner or Renter?
We believe that if we can’t collect the rent, then we should not get paid. You only pay us a management fee if we successfully collect the rent due.
Our tenant screening is so solid that we will personally reimburse you up to $1,000 in the event of eviction-related expenses. Click for details
Our pet screening process is so tight that we will personally reimburse you up to $1,000 if pet damage should occur. Click for details
Long-term contracts are scary, so we offer a month-to-month management agreement with no termination fee or penalty. We believe that we should earn your business everyday.
If we place a tenant and they break their lease during the first 12 months - we will re- lease it for free.
We know you want your money fast! So we ACH your tenant rent into your bank account no later than the 10th day of each month.
Nobody likes waiting for a response. That is why we promise to respond to all communication within 24 business hours.
Don't risk a lawsuit! We ensure full compliance with federal, state, and local fair housing laws. As well as Texas habitability, application screening, and right-to-cure laws.
You don't pay us a leasing fee until we have a signed lease AND money paid from the tenant.
Benefits of Monte Davis Realty Group Property Management Services
Commitment to Our Landlords and Residents
We not only focus on protecting your investment, but we also treat our residents with kindness and respect. We aim to provide peace of mind as well as a stable investment that generates income for landlords for years to come.
Team of Experts
To help deliver the best service for your property, we partner with a host of experts including engineering, accounting, real estate law, and master plumbers and electricians for advice and best practices. As NARPM members, we collaborate with other industry leaders regarding good professional practices as well.
Proven Operational Procedures
We pay great attention to detail and believe in being thorough and consistent with all documentation. Developed over years, we have standard practices in place for all properties we manage. These procedures include but are not limited to preventive maintenance, renters insurance, financial transparency, and solutions that enhance the value of your property as well as the lifestyle of the residents.
We operate under full transparency. Our bookkeepers are led by certified accountants. We follow rigorous internal reviews and accounting protocols for financial health and stability of our company. You, in turn, have access to a detailed income and expense statement each month reflecting all financial activity.
Solid Vendor Relationships
We are honored to maintain strong, long-held partnerships with quality service providers and are able to negotiate lower rates on regular maintenance while maintaining a superior level of service.
Communication is Key
We believe in open and honest communication with everyone and often prefer a phone conversation over a text or email. Our calls are answered live, and we strive to return all calls within 2 business days.
Ability to Listen
Listening goes hand in hand with communication. Having the ability to really listen and collaborate with you helps us customize our full-service management solutions and value-added services to meet your needs and achieve your goals.
We do not rest on our achievements. We are open-minded, collaborative, and continuously look to improve our service offerings and customer service. We regularly ask for feedback and take any action necessary to become even better at providing the best service possible.