We manage with a focus on driving net operating income, increasing asset value and providing extraordinary customer service. We are a full-service firm that understands the role effective property management plays in an investment strategy. We are dedicated to management services as we do not engage in the purchase or sale of real estate assets on behalf of our clients. We share our valuable experience and insights and we strongly recommend contacting our firm as part of due diligence with prospective acquisitions. We use a Web-based solution to manage our portfolio, which enables our clients access to all relevant information, including financial matters, in real time from anywhere in the world. We provide residents with their own individual Web portal to assist in communication, maintenance, and retention.

The Property Society, LLC, specializes in the management, leasing, and maintenance of single-family homes, condominiums, two- to four-unit multifamily complexes, apartments and homeowner associations. We serve the greater Austin area, north to Round Rock, east to Manor, south to San Marcos, and west to Lakeway. Please contact us if you have any questions about whether or not your property is located inside our territory.

The term of the management agreement is month to month. Thirty days' notice is required to terminate. Upon receipt of notice of termination, all leasing and maintenance activity will be transitioned to the owner or his appointed representative. Your operating account will be closed out, and all money will be forwarded to you within 30 days of termination.

Timely collection of rent is one of the keys to effective property management. The company takes prompt and decisive action against residents who do not pay their rent, and we typically begin eviction proceedings by the 10th of the month.

We attempt to make repeated contact with the delinquent resident prior to filing an eviction action. In cases where a resident simply does not have the money, we pursue eviction and possession unless we are told to do otherwise by the owner. All late fees and insufficient fund fees are retained by The Property Society, LLC, for collection efforts on the owner's behalf.

Our fee is charged as a percentage of the monthly gross rent collected. The fee for your property will be quoted competitively depending upon neighborhood, condition, number of units, and rent rate. Management fees on apartment communities are also quoted on a property by property basis.

Since resident retention is critical to the financial performance of the asset, our efforts are geared toward resident satisfaction by performing warranted repairs as promptly as possible. We strive to minimize repair costs while attempting to maintain maximum resident satisfaction and retention.

Resident retention is important because of the extremely high cost of vacancy. Tangible costs of a vacancy are lost rent, advertising expenses, make-ready costs, the maintenance and operation of the property during a vacancy period, and leasing fees.

Statements are available to view online 24x7 from anywhere in the world. The information is posted in real time and includes all income, expenses, disbursements, and a current cash balance. Copies of all invoices are available to view online, except for the management fee, which is simply a computerized deduction based on the percentage of rents collected. Direct deposits for the ending cash balance, net of a reserve for operating expenses (usually $300 per unit), are delivered no later than the 28th of the month.

- 1st to 10th of month
Rent received and processed. Move out departing residents.
- 10th to 15th of month
Late notices sent and evictions filed, if necessary.
- 1st to 20th of month
Invoices received from period are paid.
- 20th to 25th of month
General ledger of accounts is audited.
- 25th to 28th of month
Disbursements are delivered and statements are available for viewing.
- 28th to end of month
Process new residents moving into properties.

As a management company, we spend a good portion of our time in the field looking at and inspecting properties. It is normal for the property manager to not be sitting behind a desk. Consequently, it may not be possible to get an immediate return phone call.

The best way to communicate with the company is by email. This gives us a written record of your concerns that is time and date stamped. Often, before we can completely address your concern, we need to research information. We would like to be fully prepared to address your questions, and sending us an email is the best way to accomplish this objective. However, we always have a staff member available to assist you and answer your questions. All phone calls are returned at our first opportunity.

Additionally, many of your questions can be answered by logging into your account and reviewing the details of each asset under management.

Maintenance of proper and adequate hazard and liability insurance is the sole responsibility of the owner. The company does not indemnify the owner against any loss of any nature arising out of improper or inadequate insurance coverage.

The following minimum coverage is suggested: Fire, extended coverage, replacement cost coverage, residential glass breakage, and premises medical. After 91 consecutive days of vacancy an extended vacancy endorsement is needed. Other coverage to be considered is theft, vandalism and malicious mischief, rent loss, and special extended coverage for water damage. Please name The Property Society, LLC, as additional insured on the liability portion of your policy.

If you are leasing your residence, please understand that the property condition will deteriorate during its occupancy by a resident. In most cases, you will not receive your property back in the same condition as you left it. Many people lease out their primary residence thinking that a resident will maintain the property and perform housekeeping to the standards and quality expected by the owner. Despite our efforts to lease your property only to qualified residents, some physical damage and wear and tear will occur to your property.

Be aware that any lease in existence on your property will remain in effect through the expiration date and any automatic renewal period specified in the lease. If you wish to re-occupy the property prior to the ending date of a lease, you may negotiate a settlement directly with the resident. Residents are in no way obligated to move out before the ending date of their lease.

If targeting an owner occupant, the sale of the property should coincide with the lease expiration date. Showing occupied property, for sale or for lease, can present difficulties if the residents are uncooperative. In terms of handling the sale of your property, our company will refer you to the agent that you used to purchase the property. We do not offer to buy or sell real estate on your behalf.

In the event filing an eviction becomes necessary, the information below will provide a high-level timeline of and sequence of events. First and of foremost, evictions must be filed in the county and precinct where the property is located.

There are basically four steps in the eviction process:

1. The Notice to Vacate
If The Property Society, LLC, alleges a resident is not paying rent, our company is required by law to give the resident written notice to vacate the premises. This notice can be delivered to the resident personally with a witness, by certified mail (return receipt requested), or by any other method allowed by law.

2. Filing the Suit
The Property Society, LLC, must file an original petition with the court and pay the appropriate court costs. These court costs pay for filing of the suit, court hearing, and for the constable to serve the citation. The citation is the notice to the residents that we are attempting to evict them.

3. Going to Court
The Property Society, LLC, must go to court and prove our case by a preponderance of the evidence. Simply filing a suit does not necessarily mean The Property Society, LLC, will be awarded the judgment. Both parties should bring all documents and other evidence with them to court. At the hearing, both parties will have to present evidence to show who is entitled to possession of the premises.

4. Writ of Possession
If The Property Society, LLC, is awarded the default judgment, and the mandatory five-day appeal period has passed, and the other party is still in the premises, we can file a Writ of Possession in court. A Writ of Possession is a court order to the constable to place us in possession of the property.

How long does it take to evict someone in Texas?
From start to finish, it takes approximately three weeks:

• Three days from notice to vacate to filing of suit.
• Eight to ten days to serve the citation. The law requires the defendant to have six days' notice before the hearing.
• Five days to appeal the suit following the hearing, required by law.
• Two days for the constable to post a 24-hour vacate notice on the Writ of Possession.

National Association of Residential Property Managers Code of Ethics
The National Association of Residential Property Managers (NARPM) promotes a high standard of business ethics, professionalism, and fair housing practices. NARPM's members subscribe to the following code of ethics for Property Managers of single-family and other small residential properties.

Article 1. Duty to Protect the Public
It is the duty of the Company to protect the public against fraud, misrepresentation, and unethical practices in property management.

Article 2. Discrimination
The Company shall not discriminate in the rental, lease, or negotiation for real property based on race, color, religion, sex, national origin, familial status, or handicap and shall comply with all federal, state, and local laws concerning discrimination.

Article 3. Duty to the Client
The Company has a fiduciary responsibility to the client and shall at all times act in the best interests of the client.

Article 4. Duty to the Residents
The Company shall treat all residents professionally when applying for, living in, and vacating a managed residence. The Company shall hold in high regard the safety and health of those lawfully at a managed property.

Article 5. Property Condition
The Company shall manage all properties in accordance with safety and habitability requirements of the local jurisdiction.

Article 6. Protection of Funds
The Company shall hold all funds received on behalf of others in compliance with state law with full disclosure to the client and must never commingle the firm's or personal funds with those of the client.

Article 7. Duty to Disclose Expertise
The Company must provide accurate information within his area of expertise, but refrain from the unauthorized practice of other professions including but not limited to the law, accounting, financial planning, construction, and contracting.

Article 8. Duty to Firm
The Property Manager shall act in the best interests of their employer.

Article 9. Relations with Competitors
The Company shall refrain from criticizing competitors or their business practices. In the event of a controversy between Companies with different firms, the Company shall submit the dispute to arbitration rather than litigate the matter.

Article 10. Price Fixing
The Company shall not engage in the improper acts of price fixing, anti-trust, or anti-competition with other Companies.

Article 11. Duty to Remain Educated
The Company shall strive to be informed about relevant matters affecting the property management field on a local, state, and national level.

Article 12. Improving the Profession
The Company shall strive to improve the property management profession by sharing with others their lessons or experience for the benefit of all

Travis County - Property Taxes
Williamson County - Property Taxes
Hays County - Property Taxes

Appeal Property Tax Appraisals

Texas Pro Tax
http://www.texasprotax.com/

Frank Marsh
Marsh Insurance Agency
(512) 447-3900
frank@marshinsuranceagency.com

Increased Tax Deductions Specifically for Investment Real Estate
Chattel Professionals, LLC
www.chattelpros.com

Julie Alexander
Alexander & Associates, Attorneys P.C.
1307 East 38 ½ Street
Austin, TX 78722
(512) 478-9770
Julie@austincondolaw.com
www.austincondolaw.com

Russell Langbein, CPA, PC
1801 Williams Drive
Georgetown, TX 78628
(512) 763-1010
rl@cpataxsavings.com
www.cpataxsavings.com

Kyle Nunnallee - Nunallee Inspections
17050 Trail of the Woods
Austin, TX 78734
(512) 415-5474

John McClellan
512.279.1150
john@teammcclellan.com
http://www.mortgage1370.com/

Josh Borders
512.617.3634
Jborders@treatyoakmortgage.com
http://www.treatyoakmortgage.com

Josh Pendland
512.637.9174
josh@penlandteam.com
http://www.penlandteam.com

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Crime Information

Screening residents is the most important aspect of the successful management of rental property. The application processing is performed by our team. In general, we look at an applicant's past behavior and conclude that their future behavior will be similar. An applicant must demonstrate a history of being a good, responsible resident or homeowner as well as meeting industry-standard financial criteria. We analyze and consider the following data:

• Landlord References:
  We request and analyze all information from previous landlords.
  
  
• Credit Report:
  Our property managers and leasing agents have a direct relationship with the various credit reporting agencies. We obtain a credit report, which provides us the applicant's current and past performance toward meeting their financial obligations. It also indicates their monthly debt, credit score, rental score, and previous addresses, which we compare to addresses listed on the application. An applicant must meet established credit standards.
  
  
• Criminal Background Check:
  We do a thorough background check on all applicants by enlisting various online services.
  
  
• Employment/Income:
  We contact the employer to verify length of employment, status, and income. An applicant needs to earn at least two-and-a-half times the monthly rent in gross income to meet the financial requirements. We obtain copies of pay stubs or tax returns.
  
  
• Pets:
  We do not allow aggressive breeds. Most insurance companies will not insure against the risk of these breeds, and it is not worth the risk. Owners will need to consider pets, but we are still extremely careful in selecting residents who wish to bring pets.
  
  
• Other Factors:
  Many of our managed properties are subject to Home Owner Association restrictions, such as no boats or trailers and limits on the type and number of vehicles. An otherwise qualified applicant may be unable to lease a property if, for instance, they own a boat and want to park it in the driveway. We make sure issues like this are covered up front to avoid surprises after move-in.

New leases and renewal leases are negotiated with residents on your behalf. We attempt to negotiate and settle any disputes that may arise. Occasionally, concessions to residents are made in the interest of resident retention and/or property maintenance. However, any significant monetary concession would be made only with owner approval.

We use the following methods to advertise vacant property:

• MLS:
  Rental property data is entered in the Austin Multiple Listing Service (MLS), providing access to more than 5,500 realtors and third-party locators. All Austin MLS for-rent listings are now available to home searchers through various public gateways, such as the AustinHomeSearch.com, realtor.com as well as others.
  
  
• For Lease Signs:
  These signs are posted at the property with a 24-hour information number so drive-by prospects can find out immediately the price and size of your property and when it will be ready for move-in.
  
  
• Internet Listings:
  Our available homes for rent in Austin are posted online and updated regularly with photos, maps, and complete details for the convenience of those searching for a new home.
  
  
• Leasing Locators:
  We make all of our listings available to the many lease locator companies in Austin. These third-party locators specialize in helping residents find apartments, duplexes, and homes for rent in Austin.
  
  
• Word of Mouth/Referrals:
  We encourage referrals from current and past residents, friends of our residents, and other agents in our network.
  
  
• Market Pricing:
  Even the ideal properties will not lease quickly if overpriced. We conduct market research and make recommendations about pricing, to help ensure that your rental home is priced according to current market conditions.
  
  
• Thorough Preparation:
  Homes for rent in the Austin market must show well and have an attractive "curb appeal" or they will sit empty for months. Part of our job as property managers is to make sure your rental home is presented in a clean and attractive condition so that it will attract a good resident.
  
  

The services listed above are provided as part of the agreed-upon leasing fee.

Forty-five days before the expiration date of the existing lease, the company will reach out to the resident in an effort to renew the lease. If the market supports an increase in the rent, we adjust the lease rates accordingly. We also offer various nominal incentives, such as a free carpet clean, in exchange for the lease renewal.

Our fee is charged as a percentage of the monthly rental rate. The fee for your property will be quoted competitively depending upon neighborhood, condition, number of units, and rent rate. Leasing fees on apartment communities are also quoted on a property by property basis.

All maintenance requests are directed to our office either through the resident portal, by mail, or by calling the office directly. If the request is not an emergency, we ask the resident to go through the preventive checklist provided. The resident is asked to check breakers, reset buttons and switches, and so on, to solve the problem themselves and/or to more fully determine the nature of the issue. If this does not successfully solve the problem, the appropriate service technician or company is dispatched to the property. Corrective action is taken, and we will contact the owner if the cost exceeds authorized limits.

Should it be determined the resident is the root cause as it relates to the maintenance issue, these expenses will be billed directly back to the resident.

We use a combination of in-house maintenance staff for minor work order requests and make-readies, and third-party contractors, such as electricians, plumbers, and HVAC companies, to control the response time and to increase resident satisfaction in our managed properties.

Maintenance Requests
This is typically set at $300 per property and is agreed upon by the owner and property manager. The maximum spending authorization for routine items is written into the management contract.

In the event of an emergency, such as fire, uncontrolled running water, or inoperative locks, and to preserve the property or protect it from damage or to ensure the well-being and safety of the residents, emergency action will be taken without owner approval. In such an event, you will be notified at our first opportunity.

In order to meet the expectations of a new resident, it is often necessary to steam clean carpets, paint the interior, make sure all locks and hardware work correctly, and have all appliances in good working order. Make-ready costs are incurred even in cases where a prior resident has vacated and has received a full refund of the security deposit. In such cases, make-ready costs are incurred to improve property condition from the prior tenant's normal wear and tear.

Current law requires that rental properties be equipped with smoke detection devices. If your property does not have functioning smoke detection devices, we will have them installed at the owner's expense. At the time of resident turnover, batteries are checked and replaced, if needed.

By law, the owner is required to re-key the property at each resident turnover, to provide keyless deadbolts on all exterior doors, to provide operable window latches on all windows, to equip front doors with peepholes, and to provide sliding glass doors with security locks. Compliance costs regarding locks are at the owner's expense.

A service company's invoice is checked for accuracy on the following items: address, billing rate, purchase order number, and that the work has been performed satisfactorily. After review, the bill is internally approved for payment and is paid from the owner's operating account.

The owner is responsible for mortgage payments, property taxes, insurance coverage, and escrow account maintenance. Therefore, direct contact with the mortgage company by the owner is highly recommended.

The difference between normal wear and tear, and abuse, is a judgment call on the part of the property manager. When a resident has occupied a property for an extended period of time, that is, longer than six months, there may be some routine work needed such as carpet cleaning, touch-up painting, and so on. Most of the time these expenses cannot be charged to a prior resident's security deposit, yet the work still needs to be done to attract quality residents and command top rental rates. These expenses are considered normal wear and are borne by the owner.

If damage is deemed to be beyond normal wear, considering length of occupancy and initial property condition, a charge is levied against the resident's security deposit.

If utilities have been turned off at the time of checkout, it is impossible to determine whether appliances are operable, light bulbs functioning, air conditioning/heating working properly, and so on. Therefore, we often have utilities turned on, in the owner's name, in order to do inspections and perform make-ready work.

Once the resident completes our "Move-in Inventory and Condition" form, we are better able to determine and assess resident charges at move-out. Items noted as dirty or broken will not be charged to the resident upon move-out. However, repairs may still be needed and, in such event, will be paid for out of the owner's operating account.

It is the policy of the company that unless a security deposit charge is fully legitimate, the full security deposit will be refunded. The liability of wrongfully withholding a security deposit far outweighs the amount being withheld. A wrongfully withheld security deposit costs triple the amount wrongfully withheld, $100.00 in civil damages, and attorney's fees. By law, you, as landlord, and we, as your representative, have 30 days from move-out to refund a security deposit and/or account for any monies deducted.

For these reasons, all security deposits are held with our company in a separate escrow account.

At a minimum, the property will be inspected by our maintenance division at least twice per year during the renewal time of the lease and six months thereafter. Additionally, our management, leasing and maintenance team frequently drive by the property as we are constantly out in the field.

The scope of our services includes the management of major renovations, such as a new roof, repairing the foundation, or remodeling a room. These projects are above and beyond standard services requests and require project management supervision. We manage a group of subcontractors to complete these projects in a timely and cost-effective manner.

The Property Society, LLC has grown over the years by providing exceptional property management services to the real estate community. Agents understand their client's needs and we take every measure to ensure their success. Below are the many benefits of working with our company

We each have our own area of expertise and our team has been leasing and managing rental property throughout their various careers since 1982. There are numerous details associated with our specific trade and our full time staff is dedicated to the art of property management, to ensure your customers are completely satisfied. Your clients will thank you once they experience our professionalism, dedication, execution and quality service. Refer your clients to the property management experts... refer to them to The Property Society, LLC. .

Sales agents are experts in their fields; however, they may not be equipped to provide all the services required to lease and manage property. Agents understand the owner can not afford to have a vacant home for any period of time. As a result, especially in today’s market, many Agents are partnering with The Property Society, LLC to market the property for lease while at the same time agents market the home for sale. If the property is sold first, the management agreement with The Property Society is automatically terminated. If the property is leased first, the partnering agent receives a referral fee from The Property Society, LLC. Additionally, when the client is ready to place the property back on the market, the referring agent will receive a call from The Property Society. We are focused on leasing and management and do not offer sales services – we leave that to you.

Selling to investors? Have a property you know will not sell? How about a property the owner "can't afford" to sell. When you refer our company to your client, we offer the agent a referral fee, and when the client is ready to place the home on the market, the referring agent will receive a call from The Property Society. We leave the selling to you

Many agents manage rentals because they feel they must in order to provide full service to their customers. Now you don't. We will take over your inventory of rentals, pay you a fee, give your customers great service, and you return the property to you once owner is ready to sell. Call John O’Neill at (512) 282-7393 for more details.

Want to get out of property management all together? We have experience with buying out management companies in the Austin area. We have the forms, formulas and plans to make the transition effortless. We will also offer a commission for any agent who refers us to an owner wanting to sell all or a portion or all of their managed accounts. Call John O’Neill at (512) 282-7393 to discuss in more detail.

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Home Sales Activity - Austin Local Press - Austin American Statesman

Please contact our office for the latest information on rental market trends.

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We provide management services consisting of collections, leasing, and maintenance of single-family homes, duplexes, condominiums and apartments in the Austin market. We manage with a focus on driving net operating income and increasing asset value in addition to providing extraordinary customer service. We serve the greater Austin area, north to Round Rock, east to Manor, south to San Marcos, and west to Lakeway. Perhaps the most important service we provide is our personal attention and easy access to information.

We charge a percentage of the gross collected rent per unit with a minimum of $50 per unit. There is no charge if the unit is vacant. There is also no charge once you decide to sell the property. To secure a qualified resident, the charge is a percentage of one month's rent. To renew a lease with an existing resident, the fee is $100. We do not charge any fees to set up or open an account. Maintenance labor is billed at $45/hour for non-HVAC work order requests and $55/hour for HVAC-type work. Fuel surcharges apply. Should we need to contract the work to electricians, plumbers, painters, or other companies, we charge 10% on top of the invoice to manage these improvements.

We handle all of the day to day operations of your property including but not limited to handling resident issues, rent collection, late notices, eviction notices, lease violation notices, resident/owner billings for repairs, security deposit disposition, document condition of property, capture pictures of issues related to the property, accounting, statements, maintaining a 24 hour emergency call service and home warranty coordination.

When emergency repairs do arise, we take care of them immediately and inform you of the situation within 24 hours. For repairs that are important but not emergencies, we contact you for approval only if the estimated cost will exceed $300.

Any and all reporting is available through our Web site. Updates are posted in real time, so you can access the current information 24x7 from anywhere in the world. The Web site will include copies of your current lease and all other relevant documents. Reports include rent received, management fees and any repairs expenses deducted. For any repairs performed, invoices will include details of the work completed including labor and material expenses.

All distributions are sent via direct deposit on or before the 27th of each month.

We contact the resident, both in writing and in person, and inform them they are late and to see when payments can be expected. In some cases an eviction needs to be filed. If possible, we are able to save the resident with a payment plan. Other times we will follow through with the eviction and we manage the process.

Yes. The first step in an eviction is to deliver a notice to the resident informing them to vacate. If they do not cooperate, or if a payment plan is not offered by the specified date, usually 1-3 days, we file an eviction with the court. Fees vary by county. The entire eviction process takes about three to four weeks to complete.

We do not buy or sell assets on behalf of our clients, nor do we charge a fee once you decide to sell. As a result, we will refer you to the agent that assisted in the purchase of the home. We can also refer you to agents if you are in the market to purchase investment properties.