Our Leasing Process
Sulthar Properties leasing process consists primarily of four steps:
- Make property ready for leasing
- Put the property for lease, market and advertise your rental home
- Prequalify and screen tenants
- Prepare and execute lease documents
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Leasing Marketing
Upon execution of property management agreement, Sulthar Properties performs the following steps to lease your rental home:
- inspect and recommend any necessary repairs to make the property ready for leasing and bring up to the Texas Property Code (TPC)
- handle necessary make ready repairs on your behalf
- place an attractive yard sign
- place a lock box
- take digital pictures inside and outside of your rental home
- provide you with a market comparitive analysis (CMA) of your rental home and recommend a rent amout
- list your rental home on Multiple Listing Service (MLS) for lease
- list your rental home with Centralized Showing Service (CSS) to organize property showings (You will receive showing notifications and realtor feedback via email)
- create a custom flyer for Craigslist and put your rental home on Craigslist
- list your rental home on www.SultharProperties.com as one of the featured lisings
- synchronize your rental home through Point2 Listing synchronization gateway. MetroTex Association of Realtors provides synchronization service that lists your rental home on many websites as shown in the picture below.
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Financial Statements
Sulthar Properties provides you the following statements:
- Monthly income and expense statement with copies of repair invoices
- Yearly tax statement
- Yearly income and expense statement
Sulthar Properties disburses rent proceeds within a day or two of receipt of the rent. All rent proceeds disbursed by 10th of every month.
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Tenant Application and Screening
Tenant prospects may contact Sulthar Properties through www.SultharProperties.com, Craigslist, yard signs, and from numerous other sources such as www.Realtor.com, www.Hotpads.com and Referral sources. Tenant prospects are tracked in Sulthar Property Desk which is a custom in-house developed contact management software. All tenant prospects are prequalified to make sure tenant needs match the rental homes prior to showings. Our dedicated professional leasing agents schdule appointments through CSS and show houses to tenant prospects. Sulthar Properties uses the Texas Association of Realtors (TAR) 4-page lease application. All applications must be complete in full. Sulthar Properties reuires application fee in certified funds in prior to processing the rental application. Sulthar Properties performs the following 5-point tenant screening process:
- Credit check - check FICO score
- Criminal check
- Eviction record check
- Rental verification
- Income verification
Upon rental application approval, the tenant prospect must sign the lease and provide one full month's rent or more as security deposit to lease the property. Sulthar Properties uses the Texas Association of Realtor (TAR) lease and all addenda. Sulthar Properties uses www.DocuSign.com to sign documents online using electronic signatures.
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Property Management Services
Sulthar Properties provides the following property management services:
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Rent Collection
Rent is due on the first of the month and considered late by the 4th. Currently Sulthar Properties only accepts rent payments in certified funds and online bill pays from banks. If rent payments are not received in timely manner, Sulthar Properties will contact the tenants for collection. Sulthar Properties will notify owners of rent payment status and send appropriate notices to tenants. Most of our tenants pay the rent on-time due to the excellent tenant screening process Suthar Properties follows. Suthar Properties deposits rents on a daily basis through our automated check deposit system. Rent is disbursed to owners or investors by the 10th of every month. Owners have two options to receive rent payments: direct deposit (ACH) to your bank account or a paper check.
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Maintenance, Repairs and Make Readies
As part of our property management services, Sulthar Properties handles maintenance, repairs, and make readies of your rental properties. After you sign the property management agreement, if the property is vacant we will walk through the property, suggest any necessary repairs to make the property ready for leasing and bring up to the Texas Property Code.
Upon leasing Sulthar Properties handles any maintenance and repairs. Each owner is required to maintain a repair reserve of $250 per property. Sulthar Properties requires property owner's written approval for any repairs exceeding $250. Sulthar Properties uses independent contractors to perform all necessary repairs. Once a tenant moves out Sulthar Properties will walk through the property and handle property make ready for you prior to a new tenant move-in. Sulthar Properties handles utility services on your behalf.
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Property Inspections
As part of property management services, Sulthar Properties inspects your rental properties periodically. After you sign the property management agreement, Sulthar Properties will perform first inspection. If the property is vacant, Sulthar Properties will also prepare a list of necessary repairs before makeing the property available for lease.
Suthar Properties will also drive by the property whenever deemed necessary. After a tenant turns in a move out notice, Sulthar Properties will inspect the property and list the property for lease.
After tenant vacates, Sulthar Properties will perform move-out inspection and prepare a list of any necessary repairs. Charges will be deducted from security deposit for any tenant caused damages . Sulthar Properties will send itemized statement of security deposit as per Texas Property Code.
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