How much should I price my rental property?
Pricing your rental property is the first step we undertake. We run Comparative Market Analysis reports to research the current competition in the area, and price accordingly. Our owners/investors are provided with these reports, and we advise on the rental rate.
How does Tree Realty advertise and market my property?
After pricing is completed and agreed upon, we make sure to obtain pictures and updated information that best showcase the rental property. The property is then listed in the top online listing sites such as Trulia, Realtor.com, Rentals.com, as well as MLS where the public and licensed agents have access to the information. We provide virtual tours, yard signs, lockboxes for other agents, as well as electronic yard flyers. Our presentation of your property is extensive and professional.
How are showings of my property conducted?
If the property is still being occupied, our real estate agents will be instructed to notify and coordinate showing appointments with the current tenants/occupants. If the property is vacant, our agents will have access to the lockbox that will be attached to the front door in anticipation of showings.
What is the rental application process for new tenants?
We pride ourselves on working diligently to obtain the best qualified tenants for your property. Prospective tenants are required to submit a $50 application fee, along with a Texas Real Estate Commission Rental Application, along with their photo IDs, and copy of income verification. All future occupants over the age of 18 are required to submit a separate application. Applicants are required to read our Qualifying Rental Criteria prior to submitting their rental application, and are notified of our rules and regulations, as well as our other policies. A full credit check and criminal back ground is obtained on each applicant, and work history and income is verified by paystubs, taxes, bank statements, and/or tax returns transcripts depending on type of employment. Rental history is verified by doing an eviction search and by contacting previous landlords. This research reveals if they have breached their previous leases and if any damage was done. If the applicant is a homeowner we verify there were no late pays on their mortgage for the past 2 years. If a previous landlord is not a company we cross reference the owners name with tax records and/or require their form to be notarized.
What is Tree Realty's Qualifying Rental Criteria?
Our applicants are required to have a minimum of a 580 credit score.
Combined household income must be at least 3.5x the rent (Self-employed applicants must provide a current income tax and bank statements from the past 3 months).
All applicants must have at least 2 years worth of positive, verifiable rental history.
Applicants must not have ANY felony criminal history.
What is your pet policy?
A $400 non-refundable pet fee is due before pet occupies the dwelling. We require approved applicants to sign a Pet Agreement. Aggressive breeds are forbidden at the property, and include (but are not limited to ) the following: Rottweilers, Chows, Pit Bulls, Staffordshire Terriers, German Shepherds,, Great Danes, St. Bernards, and Doberman Pinscherss. Depending on landlord's insurance policy requirements, other breeds may be restricted.
When are properties removed from the market and leased?
Once approved, our applicants are required to submit their security deposit within 48 hours of approval. Failure to do so will result in us continuing to market the property and search for other applicants. The property is only removed from the market until our office has the security deposit in certified funds from the approved applicant. This ensures that the property is not prematurely removed from the market, and allows for a bigger pool of applicants to step forward. Once our office received the security deposit, the lease is drafted and signed. Our owners/investors will obtain a copy of the lease.
Who is responsible for utilities?
Tenants are responsible for setting up utilities on the home, and are required to provide the office with the account numbers prior to their move-in.
Who is the responsible party in obtaining the mailbox keys?
Tenants are required to obtain their mailbox key from the United States Post Office. A copy of the tenant's lease and ID will be required for this transaction to take place.
How are maintenance requests handled by Tree Realty?
All maintenance request are required to be in writing or submitted online. Tenants will log in to their online tenant portal to do so. The appropriate vendor will then be dispatched to the property or asked to schedule and coordinate with the tenant. Tenants are responsible for the following maintenance items:
Yard Maintenance (mow, edge and weed removal)
A/C filters to be changed monthly
Pest control inside and out
Light bulbs/fluorescent lights
Maintaining smoke detectors
Resetting of breakers and fuses
Unstopping plumbing (except that which is caused by tree roots or faulty plumbing)
Keeping trash cans undetectable from the street
Reporting any major maintenance issues
How do I proceed with Tree Realty, LLC?
We are honored that you have chosen to trust us with your real estate investments! We encourage you to contact our office directly at 512-718-2424, by sending us an email at firstname.lastname@example.org, or completing the form HERE to schedule a on-site meeting and walk-through of your property. When you are ready to proceed, we will draft a TAR (Texas Association of Realtors) Property Management Agreement, and we will begin our process of pricing, marketing, leasing, and ultimately manage the property for you. We look forward to having a mutually beneficial business relationship with you; come grow with us!
*If you still have any questions or concerns that were not answered in our FAQ, do not hesitate to contact us and we would be more than happy to answer your questions.