Management Services and Fees
We are a progressive, proactive property management company.
We are not just a mail drop for your rent check.
We know you have choices when it comes to who manages your
rental property and we know many owners have small margins of
error (if any). Small fees such as renewals, inspections,
vendor markups, excessive vacancy time, underpricing, poor
advertising and poor maintenance can cost an owner hundreds
(sometimes thousands) of dollars a year.
You will find our services far outweigh our fees. We are also
confident our services, fees and dedication to your property
will out compete the competition. Please print out the
Comparison Chart to help
you compare Regent Realty Services to other property management
brief descriptions of our standard services and fees. This is
not an all-inclusive list.
If your management needs include something not listed here,
please contact us for a custom management program.
Market analysis - An accurate and thorough
market analysis is one of the biggest steps in making and keeping
your rental property as profitable as possible so we go to great lengths to get as much information as we can. We locate comparable properties that are currently available or have leased in the last 18 months. We drive by those leased and will do walk thrus on those currently available.
Some companies do not physically view comparable properties
causing gross errors in under pricing (loss of income) or over
pricing, causing a property to be on the market longer than
necessary with the price eventually being lowered anyway (again,
loss of income).
Recommendations - With an accurate market analysis
and knowledge of comparables, we can recommend a rental rate and
make objective recommendations about things that may be needed to
help bring the property condition up to full market value.
There are many little, relatively inexpensive things that can
often be done to a property to make it more attractive and lease
more quickly to prospective renters.
Attract qualified tenants - We will advertise
your property in the Dallas Morning News, The Observer, The Blue
Book (for Realtors), applicable neighborhood papers, flyers put
up at nearby businesses, custom made, eye catching signs in yards
and the Multiple Listing Service. We also have an extensive list
of Realtors we fax updated lists of available properties to.
These Realtors do not specialize in property management but we
have found them to be an excellent source of referrals.
We also offer a free rental service to tenants. We do not place
ads, put your property in the Multiple Listing System and wait
for someone else to lease your property, we aggressively pursue
In an effort to maximize your property's exposure, showings and
get it leased as quickly as possible, we offer cooperating
Broker's a commission of 50% of the first month's rent if they
bring us a qualified tenant. Some companies offer as low as 25%
of the first month's rent to cooperating Brokers. When an agent
has to split that with the Broker, there is little incentive for
an agent to show your property.
To help cooperating agents "sell" their prospect on your property,
when an agent calls to ask about or schedule a showing of your
property, we fax that agent an info. sheet (MLS is great, but
limited in description space). The info. sheet is designed to
not only inform the prospect about your property, but the agent
as well. If that prospect is not interested, the next call to
the agent may be someone perfect for your property. We find the
info. sheet helps the agent make a professional, smooth, well
informed presentation of your property. Being easy to contact,
work with, helpful and giving good compensation to cooperating
agents, we effectively multiply the agents willing, and wanting,
to show your property.
Show your property - All properties leased
through us will be shown 7 days a week only by licensed Realtors
familiar with the Texas leasing laws. We track all showings and
get opinions from people that have seen your property in order
to make any necessary adjustments quickly. We will submit a
progress report to you as often as you like.
We begin marketing and showing occupied properties during the
last 30 days of occupancy, after receiving 30 days notice from
the current tenant. Having good tenant relations, aggressive
marketing and using electronic keyboxes, often we can have your
property leased and a new tenant ready to move in the day after
the old tenant moves out. Exceptions to this would be
extensive repairs or complete paints.
Evaluate tenants - Once a prospective tenant is
located, we do a thorough background check and report to you to
discuss whether or not to rent to them. Our background check
will include, but not be limited to, rental, credit, employment
and criminal histories. We use an outside agency to run a
credit, eviction and criminal history check. We call current
and previous landlords and current and previous employers
ourselves. We are trained to ask questions and look for
inconsistencies that may indicate problem tenants.
Deposits - Our recommended property deposit amount
is equal to one full month's rent. It is a deposit and is not used as
the last month's rent.
Pet deposits, if applicable, are $400.00 per animial. As owner, you reserve the right to
decline having pets in your property or require more/less
deposit money. We hold deposit monies in an escrow
account subject to auditing by the Texas Real Estate Commission.
Lease and other documents - Once a tenant has been
accepted, they meet in person with one of our representatives,
in our office, and go over the promulgated Texas lease and other
pertinent documents. The lease and other documents are
thoroughly explained before signing. A summary page is also
drawn up and signed by both tenant and representative to help
prevent future misunderstandings. All documents are in
triplicate with one copy going to the tenant, one going to you
and one staying in our file.
Move-in inspections - We will do a complete
inspection of your property before a new tenant moves in (the
day of move-in with tenant present when possible). The
inspection is documented on a check sheet the tenant and
representative sign to show agreement and acceptance of the
properties' condition upon move-in. We also take photographs
with a date stamped camera to further document condition.
The pictures are kept with the file. If you would like copies
of the check sheet, pictures or a video tape they are free of
Maintain good tenant relations - As a business it
is often easier for us to be objective, courteous and
professional when dealing with tenants, especially during a
Collect rents and other fees (including late fees)
- Rents and other applicable charges are due in our office by
9:00 a.m. the fourth day of each month. Late charges begin accruing on the
fourth. When necessary, we will handle all eviction proceedings
as agent on your behalf. Rent checks are normally sent or ACH'd into your
account the same day they are received by us so you get your rent check or ACH
transfer before some companies even start charging late fees.
If rent has not been received by 9:00am on the 4th, we make a reminder call to
the tenant notifying them that rent was not received and late fees are now due.
If rent has not been received by 9:00am on the 5th and we haven't been able to
contact the tenant, we make a second reminder call.
If rent has not been recieved by 9:00am on the 6th and we haven't been able to
contact the tenant, we will contact you to let you know the tenant is late and
to discuss options.
Of course we will walk through the process with you and make recommendations
based on experience. However, you will always be in charge of the decision you
would like us to follow through with. We will not evict your tenant without
first discussing it with you.
Maintenance - We will arrange maintenance and
supervise the upkeep and repairs of buildings, grounds,
equipment, etc. as needed. Maintenance needs are handled the
same day when possible. We are available 24 hours a day, 7 days
a week, for emergency maintenance. You will be notified of any
repair exceeding $300.00 if it is not an emergency. We do not
believe in or have a "preferred vendor" program and we make no
money from our vendors or off of their work. You will receive
the original invoice with the exact amount we paid the vendor.
There are no mark ups to you and we do not keep a percentage of
the bill from the vendor. The only loyalty we have to our
vendors is quality work at good prices. Those are the vendors
we prefer. Our vendors know we are always looking and if we
can get quality work for less, we will. All of our vendors are
professional in appearance and are given a policy and procedure
manual explaining the way we want them to represent us.
6 month inspections - Very important.
We physically walk through the property (not just a drive-by).
We check the smoke alarm (batteries seem to prefer living in
toys), locks, air filters, etc., confirm the property is being
well maintained and that the lease contract is being honored.
Often times tenants overlook, donít want to bother us or donít
care about small maintenance problems (leaks under sinks, loose
tiles indicating water getting into the wall, etc.) that can
turn into major problems. This is a scheduled visit and is not
to catch "bad" tenants, but to help people be better tenants and
discourage abuse of your property. By discovering maintenance
or property abuse problems early, we can often save hundreds, or
thousands, of dollars and get your property back on track more
easily. 6 month inspections are also free of charge.
Renewals - At the end of a lease we will do another
market analysis to help determine the current market rate. With
approval from you, we will renegotiate a new lease with a current
tenant free of charge.
Move-out inspections - When a tenant moves out of
your property we do another thorough inspection with a date
stamped camera to help document and evaluate the deposit to be
returned. These photographs are also kept with the property
file and if you would like copies of the check sheet, pictures
or a video tape they are free of charge.
Accounting - Along with your monthly rent checks or ACH transfer,
we include a computer generated itemized statement showing income and expenses.
At the end of the year we will also send you a 1099 tax form and year end summary
to help you in preparing your tax statement.
The vast majority of our owners have opted for us to ACH their funds vs sending
them a check. Money is transferred directly from our bank account into yours
using a secure network and 4 passwords. The transfer shows in your account
within 48 hours (often 24 hours).
The vast majority of our owners have also opted for online statements vs
mailed statements and invoices. The online statement is the same as the mailed statement.
However, online statements are available 24/7 from any computer with internet access.
The statements are available for future reference, nothing to be lost in the mail and all
invoices are hyper-linked to the statement.
However, if you prefer to receive a paper check, statement and invoices, that is absolutely not a
Property tax evaluation - We will do a market
analysis on the sale value of your property much like we do on
the lease value. If it appears you are paying more than
necessary in taxes on your property, we will let you know
free of charge.
Data base about your property - As part of our
market analysis, we take measurements and sketch your property
floor plan. We then have it drawn up on a computer and entered
into our data base with other information regarding your
property. A printed version is added to your file. Of course
you are welcome to a copy (printed, on disk or e-mailed).
This floor plan drawing is helpful not only in some marketing
situations, it is also used to illustrate where and what
problems your property may have and is helpful when getting
Two things often asked by prospective renters are: "What
remains with the property (stove, fridge, washer, dryer, heaters,
window units, ceiling fans, etc.)?" and "What/where are the
neighborhood schools?" When asked, since this information has
been included with your property info, we can access it with a
click of a mouse. No hesitations, no "I'll have to get back to
you" and no "You'll have to look it up" (translation: I don't
know enough or care enough about you or the property to have
done my homework). A customized information sheet about your
property is available to be faxed to prospective tenants and is
faxed to cooperating agents as a matter of routine.
Such things as remaining ceiling fans, window units, heaters,
fridges, etc. may seem small on the surface. However, to a
tenant that was shown an occupied property, signed a lease,
was not told the fridge didn't stay with the property, and has a
moving truck in the driveway,it's not a small matter at all.
We have also designed this website to be a useful resource for
both owners and tenants. Not only can people learn what to
expect from us but can also access information about schools,
neighborhoods, special events, crime statistics and much more
through our links page.
Fees - What kind of company lets you know what
they charge without making you call and ask?
Management fee is 10% of collected rent plus 50% of collected
Management fee discount for multiple units.
Leasing fee is 75% of the first monthís rent if we procure the
No leasing fee if the owner procures the tenant.
We guarantee the leasing fee for three months (if we
procure a new tenant). If you approve a tenant we procure and
the tenant breaks the lease, within the first three months, we
will refund a prorated amount of the leasing fee.
There are no hidden fees.