Welcome or Register

Owner Management Guidelines

                                                      C&M Rentals

           3800 E. Stan Schlueter Lp #106

                              Killeen Texas 76542

                                 www.cmrentals.net

     (254) 634-5383 office   (254)681-8999 cell  Fax (254)6345386

 

OWNER'S MANAGEMENT GUIDELINES

Welcome C& M Rentals Company guideline is intended to give you a brief overview of most of the services, we will provide to you and some general guidelines of actions and activities that may occur during the management period.

Our Mission.We will provide you with the best Professional Property Management skills to ensure that (1) you make the most income possible, and (2) that your property is maintained to quality standards. We want to remove you from the daily demands and stress of property management, yet keep you abreast of all issues concerning your property.

 2.  Our Services

A.   Rent Collection. Rent is due on the 1st of each month with late fees beginning on specified day
of the lease. We usually post eviction notices on the 7th of the month and begin formal eviction
proceedings no later than the 15th of the month, depending on the resident's history and any
special arrangements made with the Property Manager and tenant.

B.   Handle Maintenance Requests. All maintenance requests are directed to our office. The tenant is
asked to check breakers, filters, etc., to solve the problem himself and/or to fully determine
the nature of the problem. If this does not successfully solve the problem, the proper service
person or service company is sent to the property. Improper usage or negligence on the part of the tenant will result in the tenant paying for the repair bill.

C.   Review and Pay Bills.

          A Service company's bill is checked for correct service address, correct billing rate, correct work performed. The bill is approved for payment and paid from rents collected every month.

D.Tenant Screening. We require all prospective tenants to complete a thorough rental application and
pay a fee for processing it. To the best of our ability, we will check their previous tenancy for rent
payment history, property condition upon surrender, and overall recommendation of the previous
landlord. We also run an in-house credit check to ensure they have a decent payment history.

E.   Negotiation with Residents. New leases and renewal leases are negotiated with tenants.

Disputes are negotiated and compromised or settled. Occasionally, concessions to tenants are
deemed necessary in the interest of tenant retention and/or maximizing property performance.

F.    Mortgage Payments. We will not make mortgage payments. We will mail proceeds to the owner
or deposit to a bank account as agreed by the owner. Our goal is to disburse rental proceeds to the
owner no later than the 8* of each month.

G.   Advertising. We will aggressively promote maximum exposure of each available property to the
public using various advertising methods. These may include the local newspaper, Homes
Magazine, web page in progress and others with no cost to the owner.

3.   Leases.We recommend one year leases on all properties to reduce the wear and tear; however we may agree to a 6 month lease for multifamily units. After the initial lease term, the leases automatically convert to month-to-month leases. Tenants must turn in a 30-day move out notice before vacating the property.

4.   Sequence of events.

1st to 5th          Rents collected and posted in automated accounts.

       4th - 6th            Bills processed and paid processed and prepared for mailing.

6th                  Eviction notices posted and mail

7th to 8th        Owner proceeds disbursed through mail or by bank deposit.

7th to 15th       Track down delinquent rents.

15th to 25th    File eviction suit with Justice of the Peace.

15th -end of month:      Reconcile last month's security deposits.

End of month:               Conduct final move-out inspections with tenants.

5. Security Deposits.Security deposits are collected at the beginning of the lease and held in an escrow account during the entire lease period. Neither the owner, property manager, nor the tenant may use these funds during the lease period. After the tenant has moved out or surrendered the property, the deposit is refunded to the tenant less any legitimate deductions. Unpaid rent, damages, cleaning, unpaid bills and any other items owed by the tenant will be deducted from their security deposit. Fair wear and tear items are not deductible, only legitimate damages. By law, the security deposit must be resolved and disclosed to the tenant no later than 30 days from move out last day of the month.Your total security deposit for all purposes and for all residents is $400 to $800.00 dollars, due on or before the date of this Lease Contact is signed. Refunds shall be made in accordance with paragraph 5. The deposit is not rent and shall not be applied to the last or any month's rent. No interest shall be paid to you on the deposit. We may place deposit in an interest bearing account and any interest earned shall be paid to us.

RELETTING CHARGE: You 'II be liable to us for a reletting charge of $350.00 if you:

  1. Fail to give 30 day written move out notice.
  2. Move out without our written approval and without paying rent in full for the entire Lease Contract
    Term or renewal period.
  3. move out at our demand because of your Default; or

(4)You are judicially evicted.

Not a release: The reletting charge which is neither a Lease Contract cancellation fee nor a buy out fee-does not release you from continued liability for future or past due -rent, cleaning, repairing, lock changes, or other sums due. Rather the reletting charge is a liquidated amount covering only part of our damages, that is, our time, effort, and expense in finding and processing a replacement .Such items are uncertain and difficult to ascertain particularly those relating to inconvenience, paperwork, advertising, showing the dwelling, utilities for showing, checking prospects, office overhead, marketing costs, and locator- service fees. The reletting charge is due. Whether or not our reletting attempts succeed. If no amount is stipulate, you must pay our actual reletting costs so far as they can be determined.

  1. Military Deposit Waivers.Fort Hood Housing offers soldiers to obtain a deposit waiver in lieu of paying a cash deposit to local companies that accept them. We participate in this program, as it opens up the rental market to the maximum number of potential military tenants. However, the owner must determine whether they want us to allow the waiver to be accepted for their property.  Fort Hood has a full time staff dedicated to the waiver system, and tracks all issues related to soldiers in the program.
    According to the program, soldiers will not be permitted to leave Fort Hood until they have cleared their waiver with us. They must pay the balance owed from damages and/or cleaning before we will return the waiver to the soldier. We will admit that a few soldiers have cleared the post without clearing their waiver, but it is usually with soldiers being kicked out of the military. Overall, we feel it is a good
    program.
  2. Remedies for non-payment of rents or bills owed by tenant.If the tenant fails to pay rent on time, we have several resources:
  3. Eviction Hold-off Agreement: Basically a payment plan that they will pay their rent by a specific
    date, an thereby, forego the eviction procedures (3 day notice).
  4. Landlord’s lien: Certain property (usually TV's, stereos, furniture, etc.) may be removed from the
    tenant’s residents and placed in storage until the rent is paid. If it is not paid in a reasonable period,
    these items can be sold by auction.
  5. File on Credit: Unpaid balances will be adversely posted to the tenant’s credit. Although this does not
    force payment, it will record outstanding debts owed and prevent the tenant form undertaking further
    credit obligations.
  6. Eviction: The only lawful means of forcing a tenant to move-out and receive non-payment of rent judgment is to judicially evict them. This costs $200.00 to file initially,Eviction administration fees $75.00 then $131.00 to obtain a writ of possession. This is normally a last course of action, as it is costly and may take up to 30 days to evict.
  1. Security Devices.Texas law requires that all rental property provide at no cost to the tenant the
    following: a peephole in each exterior door, a keyless deadbolt, a window lock on every window, and a
    pin lock on each sliding glass door. Additionally, whenever there is a tenant turnover, the locks must be rekeyed. This prevents old tenants from having access to the new tenant’s residence.
  2. Property Condition.When a tenant moves in, they must complete an initial Inventory and Condition Form. This records the condition of the property when they move in, as pertaining to cleanliness and damages. When the tenant moves out, we will inspect the property for cleanliness and any new damages.  If there are new damages or it is left unclean, we will charge these items to the tenant (usually deducted from the security deposit).
  3. Repairs and Maintenance.As repairs arise during the management period, we will send repair persons or Companies to fix these items. As a rule, we will only fix items that affect the tenant’s health and safety. We consider heating, A/C, plumbing, appliances and security items a required repair. Cosmetic items, such as new paint, flooring, etc., are at the discretion of the owner. If the problem not due to the negligence for misuse of the tenant, the owner will pay for the bill form the rental proceeds.If the tenant is found to be at fault, then we will collect the bill amount from the tenant.
    • Pets.Many tenants want a property that will allow a pet. The owner must determine whether or not to allow pets. Normally if a pet is allowed, an additional pet deposit must be paid before the pet is moved into the residence. The advantage of allowing pets is, again, opening the market to the maximum number of potential tenants, and hopefully quicker renting. The disadvantage, as should be obvious, is the potential damage incurred by the pet - carpet stains, exterior door damage from scratching, yard damage,
      etc. We recommend that newer units, multifamily, and newly remodeled properties not allow pets.
    • No pets are allowed(even temporarily) anywhere in the dwelling, porches, patios, balconies, or yards unless we've so authorized in writing, except for guide animals of disabled persons. Pets must not be tied to any porch, tree, or other object on the premises at any time. Pet prohibitions apply to all mammals, reptiles, birds, fish, rodents, and insects. You must not feed stray animals. If you or any guest or occupant violates pet restrictions (with or without your knowledge), you'll be subject to the charges damages, eviction, and other remedies provided in this contract. A pet deposit is considered a general security deposit. We may require a doctor's statement of need for a guide animal for disabled persons.We may also require a pet deposit for such guide animals.
    • Congratulation on your Investment property if you have any questions or concerns please don’t hesitate to call us anytime. Office 254-634-8383   Fax 254-634-5386
    • cell 254-681-8999

Expect the Best

C&M Rentals   

Management                                                                                                                                                                                                                                                                                                          

Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and tell you how I can serve all your real estate needs.

Contact Me





* fields are required
Real Estate Websites by iHOUSEweb iconiHOUSEweb | Admin Menu