Frequently Asked Property Management Questions

What are the benefits of working with a professional property manager?

Working with a professional offers peace of mind. It allows you to live your life without the constant worry and time required to manage rental property. Rental property management is highly regulated and not knowing the rules could cost you time and money. Also, do you really want a call at 1:00 am for a leaking water heater? Let us handle the details.

How is Austin Residential Management licensed?

ATX Residential Management LLC has a Texas Real Estate Commission Corporate Broker license. Larry Park is the designated Broker and has an individual Broker license.

What type of a company is Austin Residential Management?

Austin Residential Management is an individual Broker-owned Texas Limited Liability Company. In Austin, most management companies are either a mom and pop operated company or a large corporate business run by people in another state. Austin RM is a local and professionally operated company.

How many properties does Austin RM manage?

Austin is a very competitive management market and we prefer not to put this information on the internet.

Do you also work with Buyers and Sellers?

Larry Park started in property management by managing properties that his clients purchased. When it comes time to sell or to add to your portfolio, we can help. Some companies will say they only do management. If so, they are probably not experienced or qualified to represent you with the purchase or sale of a property. The purchase or sale of a property is handled through Park Realty.

What is the policy of consulting owners concerning the daily management of my property?

We do not bother you with the day-to-day management. We will send you a detailed monthly statement and you can also go to your owner’s portal to see all activity on your property at any time. You can always call, text or email us if you have questions.

What type of properties do you manage?

We manage single family houses, townhomes, condominiums and duplexes.

Where do you manage properties?

We manage property in the Greater Austin area. Our Service area includes Travis, Hays, and Williamson counties.

What is your pet policy?

Pets are the individual owner’s decision. Although allowing pets carries the risk of damage, not allowing pets can greatly increase the time it takes to lease your property. We recommend no more than 2 animals with 35 pound limit and an extra security deposit. We will not accept any aggressive breeds of dogs or pets under one year old.

How do you determine if applicants are qualified?

Applicants are screened based on income, job history, rental history and credit score. We also perform a criminal background check. Tenants can apply online through this website to expedite the process.

Can I have a “no children” or “no student” policy for my property?

Absolutely not! Austin RM strictly adheres to Fair Housing Laws. We cannot and will not discriminate against any protected class.

How are repairs handled and how am I notified?

All repairs are requested by the tenant in writing or through our website. Upon receipt, the property manager will determine a plan of action. Any repairs not considered an emergency and are greater than the agreed upon reserves amount will not be completed without the owner’s permission. We will not spend your money without informing you first and you should not accept it otherwise.

What are the costs associated with having my property professionally managed by Austin RM?

All fees are negotiable. The basic costs are a monthly fee based on gross rents. We also charge a leasing fee for finding acceptable tenants. These are the two main costs of having a property manager.

Who holds the tenant security deposit?

The tenant’s deposit is held in a trust account according to Texas Real Estate Commission rules and regulations.

Is maintenance done by Austin RM or by vendors?

Austin RM will do most maintenance. We have trusted and insured vendors to handle issues that require a special license or skill such as an electrician or HVAC. If work is required at the time a property becomes vacant, we will contact you before going over the reserve amount. We will repair tenant damage up to the tenant’s deposit amount without contacting you.

Can you help lease my home or is full management required?

We offer lease only service. We will list your property on MLS, on our website and other associated websites We will run any applications, write the lease, and collect the deposit. Once this leasing process is done, we will hand the package over to you to manage. Several of our managed properties started out as lease-only properties.

When do I receive my statement and funds?

Statements and fund transfers are sent about the 7th of each month depending on weekends and holidays. You should get both the fund deposit by ACH and your statement emailed within 24 hours of each other.

My property has never been a rental, what do I need to do before I hand over to manager?

We will walk your property and let you know what is needed. Many times a rekey, smoke alarms and CO2 detectors are only items needed.

If I decide to hire Austin Residential Management, what is process to get started?

We will send you a sample property management agreement to review. After all the questions have been answered, we will send you an agreement to be signed on-line. We will also have a property owner’s information form for you to fill out. For the most part that is what we will need to get started.

What is your mission statement regarding managing property?

Our goal is to maintain and enhance the condition of your property while under our management while maximizing cash flow by maintaining top market rates and holding costs down.