Utilizing up to date market data, capital return rates and projections, our team researches and identifies ideal investment opportunities in the Central Texas region. AIR Property Group specializes in single family, condominium, multi family, and commercial real estate. We partner with multiple lenders offering the best rates. Each property is analyzed for the best return. This includes identifying the ARV and premium rental rates, offering the best ROI in our hot market.
It's important to stay informed during and after the purchasing process. We keep you updated on changing market conditions, and offer comparable market data highlighting your property's estimated market value. We also remind you of important deadlines regarding filing exemptions and property tax protests.
AIR Property Group offers full service property management. We manage short and long term single family homes, condos, duplex, triplex, fourplex and apartments. Offering tenant and owner portals for efficient communication and quick owner disbursements. Please reach out to our team today schedule your consultation.
We close our books on the 15th of the month. Your owner portal allows you to access each monthly statement and all receipts in a PDF format 24 hours a day. Your ACH fund transfer occurs as soon as possible, after all funds from tenants have been collected and cleared, usually by the 10th of the month. However, delays can occur, and we must allow for holidays and weekends. Management statements include a monthly and year-to-date profit & loss statement for each property, a detailed activity page showing each transaction for each property, and a copy of invoices. This is important as most property management companies do not provide copies of invoices. We believe in transparency.
We carry General Liability insurance and Professional Liability insurance (commonly known as Errors and Omissions).
While it's not required to operate as a property management company, AIR Property Group is currently seeking the Texas Residential Property Manager certification. This certification may save you money on your home owners insurance. We'll notify you once this certification is complete. Several classes were postponed due to Covid.
Requirements for companies to get the TRPM certification are :
Be a member of Texas REALTORS®
We strive to keep informed about a property's condition through several systems. This includes striving for well-qualified tenants, annual property manager surveys, and our in-house maintenance tech visits.
The biggest key to a property being well cared for is leasing to a well-qualified tenant. We find that well-qualified tenants are motivated to take care of the property to remain "well qualified".
Your property manager will be available annually to discuss the property condition and if a lease renewal is in order.
NOTE: The on-site survey is performed by your property manager. This requires your property manager to have firsthand knowledge of your investment.
We have experienced maintenance technicians on our team that respond to maintenance requests within 24 to 48 business hours, perform quality guaranteed repairs, completes a 7-Point Maintenance CheckUp during each visit, and can also perform several different trades in one call. A less expensive way than calling different vendors.Over time, a property’s systems and appliances will deteriorate. By evaluating these, you will be more prepared for needed improvements and more likely to discover potential maintenance items before they become larger, more expensive problems for you. Also, when it's time to exit, a well-maintained property sells more quickly.
Maintenance of rentals involves more than simply responding to service requests and sending out a repair technician to remedy the problem. Similar to maintaining a vehicle, a structure and its components have life expectancies e.g. heaters, air conditioners, range, carpet, and paint. The life expectancy of these components and the building exterior components vary, as examples the roof covering and paint. These also change with the type of tenancy and location involved, say college students compared to young professional singles, and from coastal properties to those in the panhandle, and from West Texas to East Texas. Texas is a vast state with various climate conditions unique to each area and the location impacts not only the exterior but also the interior components of each dwelling.
The impact of the property location influences the normal wear and tear on the structure and on the building components. For instance, a rental property located in Corpus Christi where it is often hot and has salty humidity may have to be painted more frequently than a similar property located in Dallas. Likewise the air conditioning in coastal climates can be expected to wear out sooner than those in similar properties located in West Texas which has cooler evenings and a shorter hot season, which means it doesn’t need to run as frequently. It is important for the property manager to be aware of what these life expectancies are for their area so they can inform the property owner of what to expect concerning maintaining the building and the need for various kinds of maintenance. This is especially true for out of area owners who will often be unfamiliar with the location of the investment property. Regardless of the of property location, all properties will experience five different kinds of maintenance issues:
These maintenance tasks involve no service request from tenants and are ordered by the property manager on a scheduled basis. Routinely, if required by the lease agreement, the lawns may be mowed on a monthly schedule and fertilized on a biannual schedule, and storm gutters may be cleaned monthly. Similarly, if provided in the lease, the property manager may arrange for scheduled swimming pool service on a schedule to properly maintain chemical levels and cleanliness of the pool.
These tasks are unlike routine maintenance tasks as the activity isn’t intended to provide a direct service to the property but is instead implemented to prevent a building component from failing. Examples of preventative maintenance include servicing the HVAC equipment at the start of summer and winter, inspecting and cleaning fireplaces of combustible residue accumulations in the chimneys at the start of winter, and the annual pumping of septic systems to reduce the likelihood of sewage backing up into the residence.
A lot of the property manager’s time is spent on handling corrective maintenance issues. The proper handling of service requests quickly and in accordance with the property code is expected by both tenants and owners alike. When a property manager evaluates a service request and moves it forward for service, it is a corrective maintenance function. This covers anything between repairing a fence that is falling to replacing the roof covering that is causing a leak.
In order to improve the overall appeal of the rent property, the property owner may wish to make general improvements to open it to more potential renters. For example, a rent house may be located in a superb neighborhood, be in sound condition, and have great interior amentias. If the yard is not in good condition, the property manager may suggest to the landlord that a new lawn with irrigation system be installed or that a covered patio be installed so that the yard can be enjoyed. Adding ceiling fans to the living room and bedrooms, or wainscoting to a wall to accent it are other examples of cosmetic maintenance items.
When a property does not receive maintenance to keep it functioning properly or when it is allowed to slide to the point of being an eyesore, the term used to describe the condition is called deferred maintenance. This condition is not limited to rent properties as many homeowners allow their residences to experience deferred maintenance either from a lack of knowledge as to how to properly care for a property or due to a lack of money to fund the maintenance. Many astute real estate investors look for homes with deferred maintenance to purchase as they often know that the owner may not have the money to make the repairs and so are a good candidate to approach about selling the property. Deferred maintenance items are almost always repairable and can be returned to the sales or rental market for profit.
Experience has taught us that the better the condition your property is in, the better the tenant you will attract. The better the quality of the tenant, the lesser the likelihood of a property is intentionally damaged. They have worked hard to get to where they are and they don't want to mess up their credit.
This means that the property should be:
Many residents begin to make up their mind about your property the moment they pull up to the curb. If the yard, entrance area, and interior look sharp, the agent will be much more successful in leasing your home. A quality resident is motivated to take care of your home and will leave it in good condition when they go. This means lower operating costs for you!
Federal Fair Housing laws are demanding and the fines are huge. Our job as your agent is to protect you from discrimination lawsuits. We take Fair Housing laws very seriously reserve the right to select and approve the most qualified applicant. We can call and present the applicant information to you if requested, but we have the final say. If an owner refuses to approve the applicant because of discriminatory practices we will unfortunately be forced to cancel our property management contract immediately.
In Texas, most residential leases require a security deposit. A security deposit helps cushion the landlord against property damage caused by a tenant’s negligence or carelessness. In most cases, the security deposit is equivalent to one month’s rent.
According to the Texas security deposit laws, landlords must follow specific rules when handling a tenant’s security deposits. If they don’t, there are bound to be consequences.
No, it does not. Landlords have a right to charge whatever amount they see fit.
While this may be the case at a state level, city and county laws may have limits on the exact security deposit amount. Landlords may also negotiate the amount according to certain criteria. For instance, they may charge according to the tenant’s rental history.
No, they don’t. Landlords don’t have to give the tenant a written receipt for the deposit.
Unlike other states, Texas security deposit law doesn’t dictate how landlords should store a tenants security deposit.
The previous owner must forward all security deposits to the new landlord when a property changes hands during the lease period.
The previous landlord will still be held accountable for the security deposit so long as the renter hasn’t received a Change of Management/Ownership notice from the new owner. Under Texas rental laws, once the notice is given the new owner is solely responsible for the security deposits.
The notice should state the new landlord is now in possession of the security deposits and also state the exact amount of security deposit received.
No, it isn’t required. A walk through inspection when both the tenant and the landlord go through the rental unit to inspect it. This is because a renter needs to leave the rental property the same condition as when they moved in.
Yes, they can. Like in other states, Texas landlord-tenant law specifies that landlords have a right to keep all or part of the tenant’s security deposits depending on certain situations.
Landlords may keep all or some of the security deposit at the end of the tenancy if the renter:
Examples of normal wear and tearExamples of property damageTarnish on bathroom fixturesKeys not returned at the end of the tenancyDirty groutMissing outlet coversA few small nail holes in the walls from hanging picturesMultiple holes in the wallsLoose door or handles on kitchen or bathroom cabinetsBroken windows, doors, bathroom vanity, and so on.A small amount of mildew forming in grout lines in the shower tilesExtensive water damage to hardwood floorsA few small stains on the carpetHuge stains on the carpet–Damaged or missing smoke detectors
In this case, the landlord has a right to mitigate. Texas rental law states that a landlord can charge reletting fees of up to 85% of one month’s rent. Or they can deduct their actual costs to find a new renter when a lease isn’t fulfilled.
Unless the security deposit was claimed to cover loss or damage, landlords must return the security deposit at the end of the lease.
On the day the tenant moves out of the rental unit, the landlord has 30 days to refund the deposit to the tenant. The only exception to this general rule is if the landlord doesn’t have the tenant’s forwarding address. In this case, the landlord must wait until the tenant provides it.
The landlord can also demand an advance notice of the move as a condition for refunding the deposit. That being said, a landlord can only do this if this requirement was highlighted in the lease or rental agreement.
If there is damage to the property, the landlord has a right to make deductions. In this case, the damages must be in excess of wear and tear. Examples of property damage that warrant security deposit deductions include:
A landlord must send the renter an itemized list of such damages, their estimated cost of repair and the balance of tenant’s security deposit. If the landlord doesn’t, then they forfeit the right to make any deductions from the security deposit.
The landlord may also need to pay for the financial loss the tenant has suffered in his or her efforts to recover the deposit from the landlord.
However, the landlord doesn’t need to give the tenant the list of items to be deducted if:
Wrongfully withholding a tenant’s security deposit may attract penalties in Texas. These penalties usually include paying for the tenant’s attorney fees plus paying the renter three times the security deposit amount.
This overview of the security deposit laws in Texas is only meant to be informational. For specific questions, please seek help from a qualified Texas attorney. You could also review section 92.101-109 of the Texas Property Code for the full scope of the law.