What is the Frontline Property Management, Inc. philosophy?
Our goal is to maximize the return on investment for our clients while maintaining quality housing for our residents. While it is not always an easy thing to provide tenants with units in excellent condition and save owners money to maximize income, our mission is to offer personalized and professional services to both our clients and customer. We do this by building strong relationships, utilizing the latest technology, implementing effective marketing strategies, and following consistent systems, all with honesty and integrity throughout every facet of our business. We strive to stay on top of market changes and industry trends and adapt accordingly.
What is the advantage of renting through Frontline Property Management, Inc.?
- Our Staff is professional, courteous, informed and experienced. All of our team members hold a Texas Real Estate License. Agents are required to keep current on all legal aspects of property management. Our staff take continuing education classes to stay apprised of legal updates.
- Since we manage a large number of properties, we are able to capitalize on the concept of economies of scale; we can offer multiple services that would be cost prohibitive for individual owners and smaller companies.
- We utilize the most up to date marketing techniques available in the industry.
- We stay on top of changing trends and legal issues to protect our client's interests.
- We have emergency maintenance providers on call 24 hours a day to stabilize emergency issues that could lead to much larger problems or increased liability for the owner.
What is Frontline Property Management's role as a property manager?
Our role is to achieve our client's objectives while preserving or increasing the value of an investment property and generating income for our clients. We advertise our properties, screen tenants, negotiate leases, collect rent, schedule maintenance for your property, keep accurate records, and provide regular reports and communication with our clients.
What types of properties does Frontline Property Management, Inc manage?
We manage all residential properties including multi-family apartment complexes, single family homes, condominiums and town homes throughout the Tarrant and Dallas County area. Our commercial division manages retail and office space. Visit www.svnvisions.com for more information.
What expectations does Frontline Property Management have for leasable properties?
We operate in strict compliance with the Texas Property Code. Before we offer a property for lease, we thoroughly inspect the property to ensure that all governmental ordinances are complied with. We also advise our clients with recommendations that will maximize their return on investment. We have found that by offering a quality product, maintenance requests and complaints are minimized and resident retention and satisfaction are increased.
How does Frontline Property Management market our vacant properties?
View our Marketing program.
What are the fees for Frontline Property Management to manage my property?
Multi-family properties (apartment communities) are done on a proposal basis. Please visit us at a www.svnvisions.com /ourteam.html for a proposal.
For single family homes (including townhomes, condominiums, and duplexes) our fees are 10% of the gross rental income or $55.00 per month, whichever is greater. Other property expenses include: advertising expense of approximately$100 to $200 per vacancy (this can vary according to lease up time and medium chosen to advertise your property), leasing commission of 75% of 1 full month's rent, $100.00 lease renewal fee, and a $75.00 close out fee at the end of management. No management fees are incurred while the property is vacant based on the above fee structure. Should you have specific needs, please contact us so we can develop a program to meet your needs. View a sample of our Property Management Agreement.
Does Frontline Property Management require an expense reserve?
Frontline Property Management requires each client to maintain a balance of $300.00 per unit for properties with four units and over and $500 for each single family unit. These funds are deposited in the property's trust account for expenses associated with the management of the property. All client funds are held in a Trust Account in strict compliance with the Texas Real Estate Commission Escrow Laws. We can put a plan in place to build up your reserve accounts over a specified period of time in order to alleviate the need for these funds right away.
What is our collection process?
All rents are due on, or before, the first of each month and are considered late after the fifth of each month. We send out a first letter of delinquency on the sixth, followed by a three day notice to vacate letter on the thirteenth. For those residents that have not paid in full by the seventeenth of the month, we initiate the eviction process. We do make rental payment agreements on a case by case scenario.
What are the court costs involved with an eviction filing?
Court costs are determined by the court system and typically cost a minimum of $90, depending on the number of defendants. These costs are charged to the resident and if not paid, will be deducted from the resident's security deposit upon vacating the property. If a WRIT of Possession is filed (tenants do not adhere to the 5 day vacate after eviction won), this cost can be anywhere from 120.00 to 175.00 depending on the county filed.
When are equity distributions made?
Equity distributions are made no later than the last business day of each month. Net proceeds, less reserve and security deposits, are directly deposited into our client's accounts through the Federal Reserve's electronic ACH transfer system. Monthly statements are e-mailed by the 6th day of the following month. If there have been any maintenance items or other expenses, invoices can be emailed to you upon your request at any time. All maintenance expenses are outlined on your monthly communication log which is a personalized portfolio communication emailed directly from your property manager monthly.
Download ACH Authorization Form.
How is maintenance handled?
Frontline Property Management, Inc endeavors to ensure a minimal amount of inconvenience to all of our residents by providing 24 hour emergency services as well as a quick response to routine repair and maintenance requests. In compliance with Texas Property Code, maintenance requests must be submitted in writing. Maintenance requests are handled by My Labor Resource, LLC www.mylaborresource.com with skilled, licensed, and insured subcontractors. We strive to exceed the minimum standards and have found that by providing a quality home we can attract a higher quality resident and command higher lease rates. View our maintenance section.
Is insurance required?
Our insurance carrier requires that all clients carry a commercial general liability insurance policy for the protection of any claims arising out of the operation, leasing, and maintenance of the property. We do require a valid certificate of insurance, listing Frontline Property Management, Inc as an additional insured party to be on file at all times – there is usually no additional cost associated with this.
What happens when a resident gives notice that they will be moving out?
- We visit the property to update any marketing materials and do an assessment as to the anticipated turnover time.
- We send a letter to the resident notifying them of their duties upon vacating and include an expected cost menu for any items not taken care of by the tenant prior to moving out.
- We modify the reserve in the owners account, if necessary, to ensure that funds are available to perform all turnover items necessary to get the property ready for the next resident.
- Should the property be ready to market, we implement our marketing plan.
- The appropriate arrangements are made for the transfer of utilities.
What is done after a resident moves out?
We perform a move–out inspection of the property usually within a day of the tenant move out. During the inspection, we identify items that should be charged to the former resident. We also will make recommendations to preserve the value of the property and decrease the vacancy time. We document the condition of all our properties with digital pictures.
- We supply a summary of the inspection to the owner as quickly as possible.
- We begin obtaining the make ready quotes for owner approval.
- Once the property is ready for marketing, we allow prospective residents to view your property.
How does Frontline Property Management, Inc. screen prospective residents?
We perform a credit check, criminal background check, employment verification, and rental/mortgage payment history on every adult prospective resident.
- We evaluate the lease rate/income ratio. Our tenants must earn three times the monthly rent.
- Upon approval, the prospect is given 72 hours to sign the lease and pay the security deposit.
What does Frontline Property Management, Inc. do before a new resident moves in?
The tenant is given a Move In Condition Notification (link to form) form upon move in. It is the tenant's responsibility to return the report to FLPM within 7 days of move in. This form is not for maintenance work orders. This form is for notification of property condition only. We will then validate the form and keep a copy on file. We utilize this form upon move out to determine preexisting conditions which may have been prevalent before the tenant moved in. With our notes, we are able to validate pertinent charges to the tenant.
- As required by law, all smoke and carbon monoxide detectors must be tested and the batteries replaced regardless of how new they are. We abide by the Texas Property Code for the proper number and location of smoke detectors.
- Furnace filters will be changed, as needed. Not only does this help protect your investment, but sets the benchmark for new residents. Per the terms of our lease agreement, residents are required to replace them throughout and at the end of their tenancy.
- The property will be re–keyed to ensure the safety and security of both the property and new resident.
Do owners have to accept pets?
Pets are accepted on a case by case basis, as determined by the property owner. There is a onetime non–refundable pet fee paid by the resident, which may vary depending on the number and size of pets. Pets that are classified as a vicious breed are not accepted at any time. For more complete information about accepting pets please contact us.
How do we communicate with our clients?
We believe in prompt and thorough communication with our clients. Every staff member has their own telephone extension, voice mail and e-mail. We send out monthly statements and communication logs in an effort to keep our clients informed. Below are some of the instances of when we will initiate additional communication:
- Eviction filings
- Acceptable applications
- Notice to vacate from tenant
- What to expect when tenant moves out
- Lease renewals
- Extraordinary maintenance items
How much can my investment property lease for monthly?
Your lease rate is going to be determined by several factors including the condition of the property, location, and the rental rates for competing homes in the immediate area. The markets that dictate lease rates vary vastly from the markets that influence the value of properties. Please contact our office and we can discuss this with you as it relates to your specific property.
Can Frontline Property Management, Inc. help me buy or sell investment property?
Yes, our licensed agents will be happy to assist you with acquisition and disposition of investment property. Should you have an established relationship with another REALTOR, we can assist you by working with them to make it a smooth transition.
How are Security Deposits handled?
Frontline Property Management, Inc. requires a security deposits from all residents; usually the amount is equal to one month of rent. These funds are accounted for separately at an insured bank within Texas. Security deposits cannot be disbursed until the resident vacates, and can only be disbursed to the owner or resident.
How much notice does a resident have to give before they can properly vacate a property?
Our lease provides that the resident give a minimum 60 day written notice that the lease will be terminated.
What does Frontline Property Management need to start managing my property?
To begin management of your property we will need the following:
- Executed property management agreement
- TAR – 2501 Information about Broker Services form
- Keys to the property, including mail box keys, if applicable
- Garage door openers, if applicable
- Certificate of insurance, with Frontline Property Management, Inc as an additional insured
- IRS W–9 (link)
- TAR – 2206 Owner's Notice Concerning condition of property under Property Management.
- ACH Authorization
- Lead Based Paint Disclosure Addenda, if the property was built prior to 1978
How do I pay management fees?
Management fees are deducted from your monthly equity distributions.
Will you pay my monthly bills for me?
Currently we will pay HOA dues for our clients whose properties are in a Home Owner's Association. However due to liability purposes, we do not pay mortgage payments. All other bills associated with direct operation of your property, we will gladly pay. We do require that your account have a minimum balance in excess of the estimated monthly payments in order to take advantage of this service.
Please download the appropriate form to begin this service.
May I view my account online?
Yes, our clients have full access to their accounts. You will see the same data that we have in the office and be able to prepare your own customized reports, 24 hours a day, 365 days a year.
