Q: What type of properties do we manage?
A: We manage all types of rental properties both residential and commercial. We specialize in residential single family and commercial medical complexes. Single family residence include: condos, townhomes and single family homes.
Q: What type of properties do we not manage?
A: We don’t manage homes with chronic conditions that might negatively affect the health and safety of an ordinary tenant. For example, a home without locking windows or a home that does not have and owner will not allow installation of safety and locking mechanisms as required by Texas Property Code.
Q: Are you licensed?
A: Yes, we are licensed real estate Broker and Real Estate sales agents.
We are members of:
- Houston Association of REALTORS
- Texas Association of REALTORS
- National Association of REALTORS
- National Association Residential Property Managers
- Houston Independent Real Estate Brokerage Association
Q: What experience and credentials do we have?
A: Dorothy J. Wanko, President, Broker, International Property Specialist. Dorothy has been in the Real Estate Industry since 2005. In 2009 acquired her Brokers License and started TEXdot Realtors Inc., In 2007 started Wanko Property Management Inc., (WPM) that was later changed to TEXdot Property Management, combined with TEXdot Realtors and later combined as TEXdot Property Management & Realtors. Since 2005 Dorothy has worked with hundreds of satisfied customers in Real Estate, Residential Property Management, Commercial Property Management and Associations. Dorothy is also active in real estate investment and leasing of investment properties owned.
Thomas J. Wanko, Vice President, Licensed Realtor & Handyman specialist. Thomas spent the majority of his career in the consumer goods industry in areas of wholesale and retail sales, distribution, and marketing before joining the TEXdot Family in June of 2017.
Q: What are the most important things you can offer property owners thinking about using your company?
A: The single most important thing we can offer is personal professional service. We are personally active with our customers and the properties we manage for them. We treat their properties like our own and are only interested in maintaining a quality product to get owners the most possible return on their investment from rent and sale. Serving our customers is our number one priority and we handle that personally.
Q: How do you market my property for lease?
A: TEXdot Property Management is known in the industry for managing well maintained quality properties that yield maximum returns for owners. We have the experience and resources to get your property in a condition that will bring maximum rent and resale return. Our experience in Real Estate sales ensures that your property will be well marketed in a manner that says quality and professionalism. From our yard sign to how it is marketed will be best in class so your property rents quickly and for top dollar.
- LISTING SIGNS – TEXdot Property Management sign will be placed approximately 30 days prior to the property availability date.
- PHOTOS – Professional photographs are taken of the interior and exterior of your property.
- MARKETING – Your property is marketed on Realtor.com, Chron.com, Zillow.com, Homes.com, Broker/Agent Web sites and Trulia.com
- WORD OF MOUTH REFERRALS – TEXdot is known for having quality products that are well maintained and managed. We rent to or receive referrals from many past satisfied customers, Brokers and Real Estate Sales Agents.
- PRICING – We perform a thorough market analysis of each property we list to ensure it is priced correctly and moves quickly while getting the maximum rent return.
- OVERALL PREPARATION – Properties need to be in good condition, priced right and marketed well to move. If one element is missing it can slow down the process and lower rent return. TEXdot works to ensure you have the right combination to get you property rented in a reasonable time and for the right price.
Q: What do you do to qualify a tenant after application is received?
A: We require proof of income and pay close attention to rent to income ratio to ensure a candidate can actually afford the property.
We perform thorough credit and criminal background checks.
We require copies of driver’s license and social security cards. We call and check on employment and past rental history. We reserve the right to deny tenancy based on legal status, convicted felonies or renters with credit scores below 530.
Q: What is the duration of the lease?
A: Typical leases are for a period of one or two years but because of the quality of the property and management of the property typically tenants stay longer. On occasion we will write month to month or six month leases depending on the situation. For example the time market conditions may be right to sell the property so you don’t want to be tied up in longer term lease.
Q: How do you make sure the tenant will and is taking care of the property?
A: Careful tenant selection is the first step. Once a tenant is selected we conduct a face to face meeting to review the contract and their obligations to maintain the property. Bi-annually we do a property review and address any issues that are seen with the tenant to correct the behavior. The right to do the property reviews is written in the lease to ensure we will be given access to perform the reviews. Properties are also inspected when any maintenance is done on the property.
Q: What is done if a tenant is not taking care of the property?
A: Everything is documented with pictures and with correspondence to the tenant. They are given an opportunity to correct the situation and they usually will. If problem persists we will make a decision with your consent as to the appropriate corrective action.
Q: How will I know what’s going on with my property?
A: We believe you hire a property management company to manage the property for you so we don’t inconvenience you with any day to day, normal activity. In the rare case that something out of the norm is occurring we will communicate the situation to you and come to a decision together on what actions are needed. Normal property maintenance does not typically qualify as out of the ordinary. Most contracts allow us to take care of without approval from the owner needed repairs of less than $500 although this can be changed based on owners direction.
Q: I have a guy that can do home repairs; will you use him if my property needs something?
A: We have a full list of qualified, insured and registered contractors that we use. We know how their rates are versus the industry standard and we know the quality of work they do. We would encourage you to let us use these proven contractors. If you insist that we use “your guy” they will have to be able to prove insurance coverage and that they are a registered business. If they can do that we will give them a chance if their rates fall within industry standards. We cannot take the chance of letting anyone that is not insured or registered to work on a property we manage. The risk is just too high.
Q: What if I want to use my own plumber or HVAC serviceman?
A: Same as above, if you insist we use them we will give them a try if they are insured, registered and their rates are within the industry standard.
Q: I want to use a home warranty for all repairs, is that ok?
A: If a home warranty is already in place, we will work with that company on any repairs possible. If the property does not have a home warranty but you want to purchase one, you may. The majority of our homes do not have home warranties. There is a HUGE problem with home warranty companies that the general public is become wise to. They just don’t cover most repairs or they can make the repairs but there is additional costs. Warranties are typically purchased by home sellers or their agents to avoid lawsuits if something breaks in the first year. There are many loopholes in these contracts that keep the warranty companies from having to pay for repairs in full such as pre-existing.
We recommend keeping your home well maintained at all times to reduce need for costly repairs. Hold $1,500 for normal repairs so it’s there when you need it but isn’t spent when it’s not needed.
Q: When do you mail the owners checks and statements?
A: Rent is due on the 1st of each month and Texas law says we have to provide tenants a grace period. Therefore tenants have until midnight of the 3rd before they are considered late with their rent. If rent is on time, it has to be deposited in the bank account and has to clear. As a rule we will have statements and deposits complete by the 15th of each month, depending what day of the week the 15th lands on depends on if Landlord deposits are made before the 15th or after.
Q: Can you deposit money directly into my bank account?
A: Yes, we prefer all of our Landlords open a bank account with Wells Fargo. This allows us to make transfers easily, efficiently and timely.
Q: What bills related to my rental property do you handle paying for me?
A: We handle payment of the recurring bills related to your rental property (i.e. lawn service, pool, or any other invoices generated as a result of repairs). We handle HOA annual fees as well. Tenants typically pay all utilities and user fees for neighborhood amenities (i.e. pool tag, tennis court key).
Q: What will I receive with my monthly statement each month?
A: Statements will include all expenses for that month.
Q: What will I receive with my operating statement each month?
A: Operating statements will include a year of monthly statements, rent (i.e. late fees, pet nonrefundable, and negotiated early termination fees), refundable security deposits, and Landlord reserve.
Q: What is your monthly management fee?
A: The fee depends on how much your property rents for. We have a flat fee of $85.00 for properties that rent for $1,199.00 per month or less and $95.00 for properties that rents for $1,200.00 per month or more.
Q: Are there any additional fees other than the monthly management fee?
A: Yes, but not on a recurring basis. When repairs are needed and work is performed by a contractor we charge %15 above invoice to coordinate, oversee and handle billing and payment. When work is done by TEXdot there is no additional fee above invoice, just the labor cost. When no repair work is needed, the flat fee to collect rent is the only fee you pay. When the property is vacant and no rent is coming in there is no fee. You don’t pay anything when rent is not coming in or no repair work is needed.
Q: What is the leasing fee?
A: 8.334% of the gross rents to be paid under the lease.
Q: Are there administrative fees or other service charges?
A: No, there are no other fees such as trip charges, mileage etc...
There is a fee $35.00 fee for replacement of a rent proceeds check.
Q: Can TEXdot Property management help me sell my property?
A: Yes, TEXdot is a full service real estate brokerage. We can provide market conditions and inform you when it may be the right time to consider selling your property if you so choose. If the decision is made to sell, we will work with you on every step to selling including: make ready, listing and closing.
Q: Can TEXdot Property management help me get my property ready for lease or sale?
A: Yes, TEXdot is a full service real estate brokerage. We specialize in make readies. This sets us apart from the rest!
Q: Is the management agreement you use a standard, widely accepted form?
A: Yes, we use the Texas Association of REALTORS Residential Leasing and Property Management Agreement. You can also review the standard Residential Lease we use with tenants and our rental application form if you wish. These forms are posted on our website for public review.
Q: Who holds the tenants security deposit?
A: If you are currently holding your tenants deposit, you will need to send that to use at the time we take over management of the property. Security deposits are held in a trust account to comply with regulations and the contract.
Q: How much security deposit do you charge?
A: Typically the security deposit is equal to 130% of one month’s rent. This deposit is held through the term of the lease. It is then returned to the tenant within 30 days of the lease ending date if there were no funds needed to cover repairs that do not fall under normal wear and tear. If work is needed to correct deficiencies that would not fall under normal wear and tear, funds would be taken from the security deposit to cover these costs.
Q: How soon can TEXdot start managing my property?
A: We can start immediately. Please contact us so we can get more information, answer questions and come to a decision with you if TEXdot is the right Property Management Company for you.