OWNER SERVICES » Owner FAQ

How many properties does your company manage? Approximately 200

How much do property management services cost? Our standard management fee is 10% of the monthly rental amount for one property and 8% if you have us manage two or more properties. In addition to the monthly management fee we charge a 50%leasing fee to cover leasing commissions, continuous showings of your property and the application and lease signing process. This leasing fee is charged once a tenant has been secured and the lease has been signed. This fee applies to each new lease that is signed as a new tenant is procured. If your tenant decides to renew their lease we charge a $125 lease renewal fee.

Am I charged a fee while my unit is vacant? No

Which services are included in the management fee and for which services do you charge extra? Advertising, Property Showings, Tenant screening (criminal background checks, credit checks, employment and rental history verification), Lease drafting and signing, Rent collection, Monthly owner statements with accounting information on the property, and Routine and 24 hour emergency maintenance service. The items that are extra include:Bidding services for work to be performed on the property - landscaping, painting, etc Supervising remodeling jobs, insurance claims, etc Delinquent tenant assistance fee (This fee only applies to properties where the tenant has not been placed by McKinney Properties Property Management Division.)Representing the OWNER in small claims court (Owner is responsible for all court costs, filing fees and attorney fees.)

How do you determine market rents? We perform a comparative market analysis by using the MLS and our knowledge of the area and its surroundings. What move-in specials, if any, do you recommend? Depending on the time of year and the rental market we usually do not recommend move in specials for the first 30 days. If your property has not rented after this period has passed (and we feel your asking price is fair) we suggest a ½ month to full month free with a 12 month lease.

How do you advertise vacant units and what is the cost? All of our regular advertising methods are free. We use several methods to advertise your property successfully. First we list your property on the MLS. This database is for real estate agents and it gives them access to show your property to their clients. We have a company website with all of our property listings (www.debbbieshomesnloans.com) (www.McKinneyProperties.com). We also use several national rental websites (www.homerentalads.com) and (www.craigslist.org). If permitted by you and your homeowner’s association we will put up a rental sign in front of your property. If you would like additional exposure for your property we are happy to list it on www.rentclicks.com for an additional fee.

 How quickly do your property managers respond to landlord calls? Usually within 24 to 48 hours.

Do you always consult with the landlord on necessary repairs and improvements? If we expect a repair to exceed $200 we will obtain an estimate first and contact the owner for approval. If the repair is expected to be under $200 or if it is an emergency situation we will remedy the situation without contacting the owner for approval.

 Do you have a network of vendors you can use for repairs? Yes, we have a comprehensive vendors list which we use for repairs. Each of the vendors we use has been evaluated by us to make sure their prices are fair and their work is of the highest quality. We also recommend each owner purchase a home warranty to minimize their out of pocket expenses. If your property is still covered under a builder’s warranty we are happy to communicate with the builder to have the problem fixed as quickly as possible.

 Do you take care of evictions if necessary and how many evictions have you done? We handle the eviction process from start to finish. We have an attorney to help us in these matters so that the process will go as quickly and as smoothly as possible. Any and all attorney’s fees will be charged to the tenant, however until the process has been finalized these costs are deducted from the owners account. Fortunately our company has an excellent tenant qualification process so our eviction rate is very low. However we have gone through the eviction process enough times to know how to have the process completed as quickly as possible for your peace of mind.

How are your property managers compensated? 

 The leasing agent that receives a commission for renting the home is involved in the decision of accepting or declining the applicant. Leasing agents are commissioned while property managers are salaried employees. We will give you recommendations based on our experience and market conditions without the bias of an agent making a commission.