ACE RENTAL MANAGEMENT can help you with all the questions above and more!!! Our staff and owners have over 50+ years of combined property management and real estate experience. We know how to manage your property in order to provide you with great results. Our staff and owners are dedicated to doing what it takes to maximize your chances of achieving those results.
Ace Rental Management is a locally owned company that understands the needs and desires of property owners in our area. We strive to provide owners with top quality service, open lines of communication and easily-accessible agents who treat your property as if it were their own.
We are determined to provide the best all around experience you could hope for from a property management company. With our many years of combined property management experience, we have developed a keen sense of what it takes to provide value enhancing services to our clients.
Our dedicated staff is trained to handle all tenant calls and correspondence, show vacant units and negotiate rental rates. In addition to these tasks we also collect rent, collect fees and handle normal and after hours maintenance. We represent you as the property owner when it comes to dealing with current or prospective tenants.
Each month you will be provided with a report summarizing all income and expenses associated with your rental property. You will also be sent an annual end-of-year report that summarizes all income and expenses for your property. These reports will supply enough details so that you or your accountant can complete tax filing requirements on an annual basis.
The owners of Ace Rental Management own nearly 150 rental units themselves. They are seasoned investors and have been in the business for nearly two decades. This company was set up originally to manage their properties and handle the needs of other owners like themselves. When we say that we manage your properties as though they are our own it is not an exaggeration; it is a fact.
One of the most important opportunities to impact the good treatment of your property is the appropriate education of the tenant that goes into it. The relationship we build with the tenant begins at lease signing. We take the time to properly educate tenants on our expectations regarding your investment property. Each clause of the lease is discussed and explained in detail. At this time, we respond to questions or concerns that explain how each party's responsibilities are defined. We are seeking a clear understanding or what the tenant’s responsibilities are and what our responsibilities are in regards to the property.
Our trained staff performs inspections to properly document the condition of your unit when tenants move in and move out. When these inspections are completed they serve the purpose of providing evidence that determines who pays for various repairs. In instances where damage is beyond normal wear and tear, we hold the tenant responsible for paying for these repairs. For tenant moving out, any expenses associated with damages that go beyond normal wear and tear are withheld from the tenant’s security deposit.
We never send an unaccompanied prospective tenant to your property with a key or a lock box code. If someone is interested in looking at your property they will always be accompanied by one of our licensed staff members. Property management companies that do not accompany prospective tenants to your property open you up to significant liability risks and potential damage to your investment property. These people could literally move in to your property and if this is done then you would have to go through the eviction process to get them out legally. People or their children can damage your property in instances where they are unaccompanied and there would be no way to control that possibility.
One of the key things property owners want to know is where they stand with their property financially on a monthly basis. In order to accommodate this common requirement, we post detailed monthly reports specifying cash flow for your property to the Owner’s Portal.
Also, our advertising efforts will help to ensure that you get a competitive rent for your unit and we give you the benefit of our significant experience regarding rental rates in the area. This will provide you with a reasonable expectation of income from your property as well as establish an asking price that will minimize vacant periods.
By actively managing your property, we can and do control maintenance costs to the best of our ability. We also enforce our lease contract by holding tenants accountable in cases where they should be financially responsible to pay for necessary repairs.
When prospective tenants view your vacancy, Ace wants the property to look its best and compete with area rentals. A property maintenance review and rental market review are completed. The Ace Rental Management, LLC management team will contact you to discuss the details of your vacant property and any necessary maintenance.
Supply and demand is one of the most important factors that determines rent. If there are multiple rentals available in the area of your property, it is necessary to be competitive. If very few are “for rent” in the same area, it can make it easier to rent the property. Markets change and Ace advises owners when lease renewals come up on the “current rental rates.”
Example: If the property is being shown a lot but has not rented the problem is usually something in regards to the condition of the property. However, if showings are few that is a good indicator that the price needs to be adjusted.
This is the most commonly asked question Ace Rental Management, LLC receives from owners.
Unfortunately, there is no way to predict how long a property will remain on the market, even in the best market conditions. However, Ace works diligently to rent the property as quickly as possible. Name recognition and a variety of advertisements are the most important objective to have “a quality tenant.”
Ace Rental Management, LLC or any other property management company can rent properties “quickly” if they do not have standards for obtaining good tenancy. However, bad tenants will only create more expense and another unwanted vacancy; therefore, waiting for the “right tenant” is worth the additional time it can take to rent the property.
Ace Rental Management, LLC has found that social media on the Internet (i.e. Facebook) and the Ace Rental Management website, www.AceRentalManagement.com receives tremendous exposure. Additionally, our website has syndication with over 100 additional websites within the industry, such as Zillow, where information on our vacant properties are posted.
Ace Rental Management, LLC displays “For Rent” signs prominently, and each sign carries the office phone number and website. Our signs are highly visible and they do a great job of promoting calls. The caller can immediately access the property information through out website and can call and schedule a time to view the property.
Licensed agents conduct showings for each vacant unit. Showing are arranged for your property, and appointments by contacting the Ace Rental Management, LLC office directly. When prospective tenants see the property, the management team answers questions and distributes applications. Applications are also available at the Ace Rental Management, LLC office, at the property showings, and on our website at www.Ace RentalManagement.com.
Thorough screening is crucial to successful Property Management. Ace Rental requires all applicants to fill out a detailed application and submit it for processing/approval. A credit check is NOT enough! Our company conducts a careful review of their credit, income, criminal, and tenant history or home ownership.
All applicants must submit verifiable information on their income to show they can support the property. Rental history or previous home ownership is carefully checked. Cross-referencing all three areas – credit, rental and criminal history, and income - provides the answers to qualify or disqualify prospective applicants. If a pet is allowed on the property, the screening includes the pet.
Ace Rental Management, LLC normally does not accept cosigners. Ace’s policy is that the applicants should have the ability to rent on their own merits. However, there are sometimes conditions that may warrant taking a cosigner on a property. If this is the case Ace Rental Management, LLC will notify the owner, discuss the reasons, and obtain owner authorization.
If an owner authorizes a pet, Ace Rental Management, LLC often requires a non-refundable pet fee and in all circumstances requires a refundable pet deposit.
Many tenants have or want pets. It is legal for property owners to discriminate against pets. You may wish to do so. However, whether you have or have not decided to allow a pet in your property, the Ace Rental Management, LLC application has a place for prospective tenants to list pets and how many. It is important NOT to discourage full disclosure on pets while taking an application. If you do allow a pet, Ace Rental does not place inappropriate pets in a property. We do enforce breed restrictions on large and aggressive dog breeds.
Ace Rental recommends to owners that when the property is on the market, that pets are “negotiable.” This can solve two problems.
Special note: “Service animals” for handicapped/disabled persons are NOT pets by Federal law, and owners cannot discriminate against handicapped/disabled persons with a service animal. Fair Housing legislation does NOT allow owners or property managers to collect deposits of any kind for service animals.
However, Landlords can still process applicants who are handicapped or disabled on the same criteria as other applicants: income, credit, and tenant history. If they fail to qualify in these areas, the landlord/manager can still deny the application, handicapped or not.
Also, we require the tenant to provide proof of a prescription from a licensed professional (doctor) that the service pet is needed.
Ace Rental Management, LLC requires all funds paid in full prior to renting the property. This eliminates prospective tenants who really do NOT have the necessary funds for renting. In rare instances where a payment plan for the security deposit may be worth considering, Ace Rental will talk to the owner to get their approval prior to taking this action.
Once approved, all applicants must pay in full, the first month’s prorated rent, and a security deposit equal to the first full month’s rent (in most cases).
Once Ace Rental Management, LLC receives funds, a thorough rental/lease agreement with the applicant is completed. The combination of Ace Rental Management addendums and all other necessary addendums are included with this documentation.
All persons 18 and over, including adult children, are required to read and sign all rental/lease agreements. If the accepted applicants are a foreign nationality and cannot read and understand the documentation, they must supply an interpreter of legal age for signing the rental/lease agreements.
Taking the time to prepare tenants for their Ace Rental management, LLC residency is another step toward a successful tenant/landlord relationship. Ace Rental wants both owners and tenants well informed.
Rents are due on the first (1st) day of the month and late if not received in the Ace Rental office by close of business on the third (3rd) of the month.
Ace Rental Management, LLC recognizes that many things can happen where it concerns rent; rent can really be lost “in the mail”; employers can delay the tenant’s paycheck, there are real tenant emergencies, and more. Therefore, we make a serious effort to determine why the tenant is having a problem. If Ace Rental receives the rent prior to issuing owner funds we do not contact the owner unless our management team determines there is an ongoing rent issue.
If Ace Rental Management, LLC does not receive rent by the due date, Ace Rental prepares and delivers a timely notice to pay or quit, as the law allows. Ace Rental makes every effort to post notices properly should legal action be required. If Ace Rental determines the tenant is not going to pay the rent during the notice to pay or quit period, or shortly thereafter, our office contacts the property owner and works out a plan of action.
The best approach to maintenance is “preventative maintenance,” and this is the Ace Rental Management, LCC policy.
First, Ace Rental has already started with educating the tenant by:
We want the tenant to know from the beginning of their tenancy that the Ace Rental/landlord expectations are to “care for the property.” This approach can prevent costly maintenance.
Next, we use “preventative maintenance” techniques when work is required and utilize licensed and unlicensed contractors (depending upon the nature of the repairs needed). Often minor expenditures save the most money such as doorstops, new filters, testing smoke alarms, deadbolts, and more. Many small repair items can prevent maintenance that is more expensive.
Consider the cost of repairs like holes behind doors, clogged heaters and air-conditioners, appliance problems, dry rot, safety issue and more. Then of course, there are the major issues in a home such as the roof, the exterior condition of the building, carpeting, interior, and exterior paint, etc. When left to deteriorate, it usually means the owner will have to spend more in the future.
It is equally important to keep up with maintenance while the tenant occupies the property. Often people think no news is good news; this can be just the opposite. Instead, “delayed news can become very bad news.”
This is why, in our tenant instructions, we require them to report maintenance. For example, what is worse than finding out dry rot could have been prevented or discoloration of the linoleum if the tenant had reported the leaking toilet in the bathroom? Avoiding major maintenance costs are certainly more favorable in such cases.
The Ace Rental management team contacts owners regarding maintenance above the $250.00 minimum that is listed in the Management Contract, unless the situation is an emergency.
When an emergency and/or disaster strikes, Ace Rental has policies in place for the property and tenants. Ace Rental Management, LLC notifies the property owner as soon as practical. The nature of the emergency and/or disaster determines the action needed by Ace Rental.
There are times when a property manager must “act now” in order to prevent great financial risk to the owner. For example, when a property is flooding this is handled as an emergency.
When there is a notice to vacate, the move out procedures with tenants are as critical as when Ace Rental Management, LLC moves in a tenant. The preparation for this really began when the tenant moved in with a detailed rental agreement, maintenance addendum, walk-through video, and Ace Rental Management, LLC Tenant Handbook. All of these documents gave instructions to the tenant on how to move out.
Ace Rental Management, LLC notifies the owner giving details on how they will proceed with the tenant and re-renting the property. Ace Rental Management, LLC immediately places the property on the market to rent unless the owner notifies Ace Rental Management, LLC to take other measures.
Ace Rental Management, LLC also responds to the tenant notice with a detailed Move-Out Packet detailing the steps to complete a successful move. Rent is required until the end of the notice unless otherwise stated in the rental/lease agreement.
Ace Rental Management, LLC conducts a walk-through property review similar to the one performed when the tenant moved into the property. Ace Rental Management, LLC records any maintenance required and discloses a list of damages to the vacating tenant. Digital photographs or video are taken when the tenant moves out to document the condition of the property and support any deductions from the security deposit.
Proper handling of the security deposit refund is crucial. Any tenant deductions are determined in a timely manner, and a security deposit transmittal is prepared in accordance with state laws. Upon vacating of the premises for termination of the lease, if the landlord does not intend to impose a claim on the security deposit, the LANDLORD shall have 15 days to return the security deposit together, or the LANDLORD shall have 30 days to give TENANT written notice by certified mail to the TENANT last known mailing address and the reason for imposing the claim. Owners receive a copy of the transmittal with their monthly statement, showing any deductions and monies refunded.
Do you know someone who is looking for management services in the Southeast Texas area? If so, then notify your management team. Ace Rental Management, LLC values their client business and believes in rewarding referrals from clients. Please call for more details.
Ace Rental Management, LLC schedules property reviews with your tenant. We will prepare a report and include digital pictures that will be saved under your property within our property management software. When warranted, the maintenance department will contact you to make recommendations to preserve the value of your property.
Ace Rental Management, LLC charges a percentage of the repair not to exceed $1000.00 for supervising work requiring extraordinary maintenance and the definition of extraordinary maintenance is as follows:
The definition of extraordinary maintenance is rehabilitation work to included, but not limited to, insurance claims, preparing new listings to accomplish rent ready status (this is an instance where an owner brings us a property to manage that is not ready for rent) and major systems replacements. (Examples are roof replacement, major tree work, exterior painting, vandalism, etc.) that go beyond normal make-ready work.
The Ace Rental Management, LLC policy is to consult licensed and unlicensed contractors for bids and solutions based upon the nature of any required work. Then Ace Rental contacts the property owner for authorization and/or a decision regarding the maintenance.
Ace Rental Management charges a fee to handle an Eviction. This fee is designed to cover our time to represent the owner in court should this relatively rare event occur. Ace Rental will serve the appropriate notices in an attempt to collect any rent that becomes due after the start of our Management Agreement. If the tenant remains delinquent Ace Rental will file the required documents to begin Eviction Proceedings. The cost of the Eviction would be an Owner expense.
The Ace Rental Management, LLC Sales Division is available to assist you in buying more investment property or selling your property when ready. A free market analysis is available at any time with no obligation. Please contact our office so we can provide you with the information or services you need.
When you enter into a Management Agreement, Ace Rental Management, LLC establishes an account for you and your property. Ace Rental recognizes the importance of accurately collecting and disbursing funds. The property management software used by Ace Rental is specialized software designed to handle the many facets of property management and accurate record keeping, and complies with the requirements of local, state and federal laws.
Ace Rental Management, LLC holds your account in a trust fund mandated by law. Ace Rental accounts for each owner’s funds separately in the trust account and does not co-mingle funds with broker or personal monies.
Ace Rental Management, LLC posts monthly statements to owners via their owner portal. If you have difficulty reading your monthly statement, please contact our management team. We are happy to assist you and answer your questions.
Ace Rental Management, LLC disburses available funds to owners on the 10th of each month UNLESS either day falls on a Saturday, Sunday or Holiday, in which case disbursements are processed on the following Tuesday. We do not disburse funds on weekends and holidays. Ace Rental does NOT issue owner checks unless there are sufficient funds in the owner’s account. It is vital to accurately post rents, pay vendors, and disburse funds for your account before your owner’s disbursement . Therefore, it is vital that Ace Rental Management, LLC adhere to this schedule to ensure servicing every owner’s account.
Ace Rental Management, LLC distributes owner funds in two ways:
Owners will receive a Schedule E Report to reflect what has transpired throughout the prior year, such as management fees, leasing fees, landscape, utilities, repairs and maintenance, etc. The amounts will not reflect any funds issued through the owners personal account. Owners can submit the Schedule E Report to their tax person along with other information from their personal account for income tax reporting. Ace Rental Management, LLC does not issue statements to the owner’s tax preparers.