Property Owners FAQs

Property Owners Frequently Asked Question

If you are looking for a residential property management company servicing Forth Worth, Texas, you’ve come to the right place!

When you work with us, you won’t need to worry about knowing each and every landlord-tenant law in Texas. We follow all local, state, and Federal Fair Housing laws and legislation.

Please take a look at our Frequently Asked Questions below. Call us at 817-249-5483 and let us know if you have any additional questions.

Will I lose control of my property if you manage it?

Definitely not. You are involved on all aspects regarding the management of your property. We’ll factor in your instructions as well as your guidelines.

How do I apply to rent a unit?

First, you must be eighteen years of age and over. Next, you must fill out a rental application form. Last, if you are single you must pay an application fee of $40 (non-refundable) each. If you are a married couple sharing the same last name, the fee is $50. It’s also non-refundable.

How do you calculate a unit’s rent price?

At Property Management by Pat Gray, we understand that charging the right rent amount is key to a successful rental business. It’s because of this that we make use of a variety of tools to calculate a unit’s rent amount.

One tool is the comparative market analysis, or CMA. The tool allows us to compare the rents of properties located in the same area and come up with the most competitive one.

How long does it take to fill a vacancy?

Rental vacancies are every landlord’s nightmare. It means zero income at the end of the month.

With more than 30 years of experience in the business, we fill rental vacancies promptly and professionally. We’ll advertise your property to the largest available rental markets. We will list your property on popular rental listing sites like realtor.com, hotpads.com and others.

Do you screen prospective tenants?

Yes, we do. We always strive to find the best tenants for our clients for their properties. Our screening process involves processes like employment verification, credit checks, background checks and more.

A good tenant will consistently pay rent on time, which ensures that your investment property continues to deliver an ongoing income stream to you, the owner.

Should I allow pets?

You don’t have to. But from our years of experience managing properties, we suggest leaving this option negotiable. The reason? The majority of tenants are pet owners. In fact, research suggests the number could be as high as 70%.

So, if you say, “no pets,” you’ll only be able to rent to the 30% of tenants who don’t own pets. This could extend the time your rental stays unoccupied.

Should I allow smokers?

Smokers are not a protected class under the Fair Housing Act. As such, we have complete control over whether to allow them in our properties without discrimination concerns.

At Property Management by Pat Gray, we don’t allow smoking on any of our rental units. Although smokers make up 16.8% of adults in the United States, the long-term property concerns far outweigh the benefits.

What do you collect from tenants before they move in?

Once we approve a tenant, the first thing they need to do prior to lease signing is to place the full security deposit amount in a trust. Then, at the lease signing, they must pay the first month’s rent as well as any additional fees like pet fees.

Once everything is done, we then release the key to the tenant.

What happens if a tenant fails to pay rent on time?

Nonpayment of rent is a serious lease violation. The first thing we do when this occurs is send the tenant a notice. The notice tells them that they are behind on paying rent and that they should pay immediately.

If the tenant pays after they receive the notice, we’ll only charge them a small late fee. However, if they don’t, we’ll be left with no other option other than to begin the eviction process following Texas laws.

What process must a tenant go through to be released from their lease?

The first thing that a tenant must do is notify us of their intention to move out. Once they actually move out, we then conduct a thorough move-out inspection. The inspection helps us assess whether the tenant has caused excessive property damage.

If they pass the inspection, we release them from the lease and return their security deposit.

What happens if something were to break in my property?

We’ll notify you immediately and we’ll begin doing the repairs. We have a list of contractors and vendors to make the needed repairs. We guarantee that the work done will be completed on time and will be of top quality.

A property that is properly maintained usually attracts better quality tenants, and in the long run much better returns.

What measures do you take to ensure my property is cared for?

We normally inspect our clients’ properties four times during each lease term. The inspections are:

Move-In Inspection. We conduct this prior to the tenant moving in. It helps document the property’s condition.

Move-Out Inspection. We conduct this inspection immediately after the tenant moves out. It helps check whether the tenant has caused damage exceeding normal wear and tear.

Seasonal Inspection. Each season brings its own set of maintenance challenges. For example, winterizing the pipes during the winter season.

Drive-by Inspection. This helps check the exterior condition of the property.

With these inspections, you can rest assured that your property is being taken care of.

What happens if there is a middle of the night call?

Our team is always ready to handle any calls, whether they are emergencies or not.

What if I would like to sell my investment property?

Property Management by Pat Gray can help! We can help you list and sell your property. We’ll also give you insights on the market trends and help you appraise your home.

Will I need to change my insurance coverage?

No, you don’t. But it definitely helps to check whether you are carrying adequate insurance for your property needs.

For all properties we manage, we require current proof of insurance to be on record in our office. In addition, we require to be named as additional insured on your policy.

We also require tenants to have a renter’s insurance prior to lease signing. Although not required by law, it can prove beneficial in the event a tragedy strikes.

When should I expect my monthly report and check?

We usually process monthly statements from the 10th of the previous month to the 10th of the current month. We’ll notify you via email when it’s ready. You’ll only need to log into the Owners Portal to access it.