FAQs - Frequently Asked Questions | Property Management San Antonio TX | Pyramis Company

FAQs – Frequently Asked Questions

Tenants

Can a property manager help me avoid bad tenants?

Yes. We have a very complex qualification system that applicants must be processed through. We can help get some of the best tenants.

What, specifically, do you review in order to qualify a tenant after they have applied to rent my house?

Credit, employment, rental or mortgage information, and criminal background.

How do I know you will select a good tenant for my property?

Our application process does not consider first-in, as we will consider multiple applications for the same property and choose the best one.

How do you make sure the tenant is taking good care of my property?

Regular drive-by inspections by our staff, reports from vendors handling service calls, and inspections occurring after 6 months of residency and continue on an annual basis.

What do you do if they are not taking care of my property as they should?

Any discrepancies found will result in lease violation notices being sent out.

What happens if the tenant does not pay their rent?

We start eviction process around the 10th of the month. It takes about 4-6 weeks for the entire eviction process.

How informed will I be about what happens with my property?

Frequent emails and an occasional telephone conversation should the need arise to inform you about any problems we’re experiencing.

 

Maintenance

How do you handle maintenance requests?

We accept them via phone or email.

Do you use the cheapest maintenance people you can find?

No. Due to the volume of work we give to our authorized vendors, we generally get prices better than you could as an individual. As an example, our HVAC vendor is still charging us the same rate for service calls when we started using them 25 years ago.

Do you hold some of my money for repairs? How much?

Yes. Must maintain a monthly $250.00 reserve. We will not proceed on any work until we have funds in your account to cover anticipated costs.

How do I know you won’t spend my money on large repairs without my approval?

The management contract states that we will get your approval for all repairs over $250. We tell our vendors the same.

My brother-in-law is fairly handy; will you use him to perform repairs?

We sure can. If we are to pay this individual with a Pyramis check, all standard vendor docs must be on file to include certification of required insurance.

What if I want you to use my plumber, A/C Company, etc.?

We sure can. If we are to pay this individual with a Pyramis check, all standard vendor docs must be on file to include certification of required insurance.

I want you to use a Home Warranty for all covered repairs, is that ok?

Yes. The repairs may take longer, though.

My home has a pool. How do you handle the maintenance?

Owners are responsible for the equipment and its maintenance. Tenants are responsible for the cleaning and upkeep.

 

Owners

When do you disperse the owner’s funds and email statements?

Around the 10th and 15th of the month.

Can you put the money directly into my checking account?

Yes we can. We’ll need a voided check to get it set up.

What bills will you take care of getting paid for me, related to my rental property?

Most any related bill you need. Mortgage, HOA, etc.

What will I receive with my monthly statement each month?

Detailed accounting of all income and expenses related to your properties.

 

Fees

What is your Monthly Management Fee?

Fee depends on the difficulty of the assignment and number of properties being managed. Varies from 6% to 15%.

What is the Leasing Fee?

The leasing fee is 50% of the first full months rent.

Why do property management companies charge leasing fees? How are these different from management fees?

A large portion of the leasing fee goes to the real estate agent who brings us a qualified applicant/tenant. This real estate agent is an independent contractor working on a commission basis.

Are there administrative fees or other service charges?

Yes. Move in photos which are used to determine charges at move out, certified mailings, evictions, insurance claims.

 

Property

Can you help me sell my property?

We sure can. We are members of the San Antonio board of REALTORS (SABOR) and Multple Listing Service (MLS). We have all of the same marketing capabilities of the “Big Box” real estate offices.

Can I go by and view my property?

Of course. If it’s vacant, with lockbox. Or, will make arrangements with the resident if occupied.

How soon can you start managing my property?

We recommend 30 days prior to move out or lease expiration. If vacant, we can have your home on the market within 24 hours of a management contract being signed.

What is ‘Additional Insured’?

Must insure that you have liability coverage and policy shows that your insurance company covers Pyramis for any liability that may arise in the management of your home.

 

Property Management

What is a Certified Property Manager?

A Certified Property Manager (CPM) is the highest designation available from the Institute of Real Estate Management (IREM). People who manage real estate must understand and be able to deal with the diverse factors which impact investments: the state of the economy, local and national legislation, tax regulations, energy and operating costs, local market conditions, monetary policies, controls and ordinances, public policies and attitudes, population changes, and consumer trends, to name a few. CPM designees receive training in and have experience with these elements of our complex society and environment. For more information on this, visit our page on Why a CPM Matters.

You guys seem sort of picky about the clients and properties you take, why is that?

We specialize in middle to higher income properties. We prefer not to manage low income or government subsidized housing, which are normally abused more and come with substantially more liability.

Are you a licensed Property Manager?

The only licensure requirement in Texas for property management is a Broker’s license. Craig Acord, CPM®, President of Pyramis, has been a licensed broker since 1985. There are designations available for property management, however. The most prestigious of them is the Certified Property Manager (CPM). Craig is San Antonio’s most tenured CPM in residential real estate.

How long will it take to rent my property?

It depends on the neighborhood and the time of year. We can provide you with data on other homes in your area to manage your expectations.

I am relocating out of the country, can you help me manage my property back in the states?

Yes. Communicating via email works the best for most situations. Skype is always an option, too.

Does your property management agreement give you exclusive right to sell my property?

Only if you are selling to your current tenant. Should you decide to list For Sale, we would draft a listing agreement for said purpose.

How much security deposit do you charge the tenant?

Typically, $100 less than the rent amount.

Why shouldn’t I manage my property myself?

We have quality, licensed vendors that we use regularly. We keep up with all the required codes affecting rental property. We have qualified property managers who are familiar with any situation that may arise. We also provide complete accounting. Tenants take advantage of the home owner, we are the bad guys when needing to get nasty on late rent. We take the calls in the middle of the night and handle emergencies and If an eviction proceeding is required, we know how to do it effectively.

What type of properties do you manage?

Any residential property not requiring an on-site manager.

What type of properties do you not manage?

Low income or government subsidized properties.

What do you do to get my property leased?

Internet marketing (50+ sites), Multiple Listing Service (MLS), our web site, and signage.

What is the Duration of the Lease?

Normally, 12 months. However, depending on when we want the lease to expire, lease terms could be anywhere from 6-36 months.