J.R. Rentals Property Management Policies
The Management Agreement
The management of real estate, whether residential or commercial, should require a written Management Agreement between the property owner and manager. The Management Agreement is a comprehensive and detailed agreement outlining the responsibilities of both the owner and management.
The Lease Agreement Between J.R. Rentals and The Tenants.
J.R. Rentals and Property Management will complete all of the necessary leasing requirements between the tenant of your property and JR Rentals.
We begin by having the tenant complete an extensive rental application, which allows us to evaluate prospects based upon their income, debt, employment and previous history when possible.
The lease that is executed on your behalf is the Texas Association of Realtors contract. This contract is put together my real estate attorneys and brokers. These leases are continually updated to reflect changing legal conditions and give us the ability to maintain control and manage your property for your maximum benefit.
An initial twelve-month lease term is generally used, with lease renewal period of equal length. Short-term leases can be offered based upon the property owner's preference. All tenants pay monthly rent in advance, due on the first day of each month with a late fee equal to 10% of the rent assessed on all rents not paid by the 3th of the month.
Eviction for nonpayment of rent begins on the 7th day of each month. Only bonafide, documented reasons for payment after the 4th are accepted and the extended payment period cannot exceed mid month. Eviction proceedings will normally require up to 15 days to complete.
Tenants are required to give written notice of any maintenance problem. Notification can be in the form of fax, email or mail or by filling out the in-office maintenance request form. A serviceman is then sent to make the repair and to determine the cause of the problem. Our lease states specifically that "tenant caused" problems with be charged back to the tenant.
With a property owner's consent, pets are allowed with the payment of a $200 additional (non-refundable) pet deposit. The pet deposit is automatically transferred to the property owner upon receipt of the funds.
Leases on single-family homes also require the tenant to maintain the yard and ground. Pest control service is generally the responsibility of the resident of a single family home, whereas the owner of multi-family housing must bear the responsibility for pest control.
In summary, our rental application, lease, and maintenance and cleaning addendum along with a complete property condition and inspection report help insure that both the property owner and tenant are treated fairly and the utmost control is maintained on your property.