W-9 Form & Direct Deposit Form
Once the Property Management Agreement has been signed, McCaw Property Management will send a W-9 form and Direct Deposit form for the Owner to complete and return to our office. The W-9 form (Request for Taxpayer Identification Number and Certification) is for the rental revenue received and the Direct Deposit form is for an electronic direct deposit of rental payments.
Appliances
When onboarding property, we will need a complete list of the appliances that will be included for tenant use. We discourage providing a refrigerator, a washing machine or a dryer at the property (if you do provide these appliances, tenants will be responsible for repairs).
Cleaning Prior to Marketing
Properties must be cleaned at the Owner’s expense prior to coordinating with photographer to take marketing pictures. We have vendors available if you’d like assistance with cleaning services. Keep in mind the property may need a ‘Sparkle Clean’ prior to move-in due to the traffic from marketing the property.
Owner Draws & Owner Statements
Our goal is to pay Owners with 1-5 properties by the end of the second full business week of each month and Owners with 6 or more properties by the end of the third full business week of each month. We do not have a specific date as this is determined by rental income, vendor payments, utility payments, and other Owner bills. Once all that is accomplished, we begin working on Owner Draws and Owner Statements.
General Maintenance / Work Orders
When a tenant submits a work order for repairs, our maintenance department will troubleshoot the issue over the phone prior to sending a vendor. If a vendor is still needed to visit the home to correct the issue, they will be dispatched to property and you will be notified by e-mail. Per the Property Management Agreement, we are allowed to make repairs up to the agreement limit without approval. Should the repair be over the limit we will contact you to discuss further action. If it is an emergency, we will schedule repair.
HOA
If you have any properties in a Homeowners Association (HOA), please share the HOA’s management information and the rules and regulations for tennants to our office and share our information with the HOA. Please direct them to send any violations to our office so that we may work with the tenant to correct.
Insurance
A. At all times during this agreement, Owner must maintain in effect:
- a public liability insurance policy that names Broker as a co-insured or additional insured and covers losses related to the Property in an amount of not less than $300,000 on an occurrence basis; and
- an insurance policy for the Property in an amount equal to the reasonable replacement cost of the Property’s improvements and that contains endorsements which contemplate the leasing of the Property with vacancies between lease terms.
B. Not later than the 15th day after the Commencement Date, Owner must deliver to Broker copies of certificates of insurance evidencing the coverage. If the coverage changes at any time during this agreement, Owner must deliver to Broker a copy of the insurance certificate evidencing the change not later than 10 days after the change.
C. If Owner fails to comply with Paragraphs 10A or 10B, as stated in Property Management Agreement, Broker may: (1) purchase insurance that will provide Broker the same coverage as the required insurance under Paragraph 10A(1) and Owner must promptly reimburse Broker for such expense; or (2) exercise Broker’s remedies under Paragraph 17.
Please request your insurance provider to add McCaw Property Management as an ‘Additional Insured’ to Owner policy. (see Exhibit 1)
Lawn Maintenance Prior to Lease Agreement
In order to market the property, the lawn must be manicured and in top condition. We have venders who will provide lawncare and will continue to maintain the lawn while vacant. If you have a company you currently utilize, please share that with our office during the onboarding process. We will take any feedback that we receive back from prospective tenants and agents and will address to avoid unneeded time on the market. Our Lease Agreement with the tenant states that they are responsible for lawn care upon move in and during the term of the lease unless otherwise stated.
Make-Ready / Repairs Prior to Tenant Move-In
Should your property require a make ready or repairs, please note we are able to provide vendors to complete this for you. We require that Owners make a 50% contribution upfront to start the project and then pay the remaining 50% upon the completion of the project. Owner’s are able to make contributions online through their portal.
Owner Portal
Owner will receive an invitation to activate the portal in AppFolio, the property management software we use. This is where you can view rental payments, work orders, make contributions and view monthly Owner statements online.
Pets
About 72% of U.S. households have at least 1 pet. Not considering pets can greatly decrease your tenant pool and may lead to increased vacancy time. As a general policy, McCaw Property Management recommends no more than 2 pets per household. While onboarding, please let us know if you approve pets and if you have any restrictions. Please note we do not allow certain breeds due to insurance purposes. ESA animals are not considered pets and must be allowed in your property. We require all tenants to register pets at www. petscreening.com.
Photography
We hire a professional photographer specializing in Real Estate photography to take the marketing pictures. There is no cost to you as this is part of our marketing expense. We typically receive the professional pictures within a 24-hour turn-around time period and will publish listing.
Property Reviews
We perform an annual review of each property we manage a least once a year. The annual property review will include a thorough inspection of the interior and the exterior. A comprehensive report with pictures will be provided to you. Should any areas require correction – our Maintenance Coordinator will communicate those to you. We require two annual inspections for each HVAC system at each property we manage. This is a preventative measure to preserve the lifespan of the unit(s) – thus saving you money in the long run.
Property Re-Key
Per Texas State Code Section 92.156, all properties will be re-keyed and brought to code at the expense of the Owner within 7 days of move-in.
Property Showings
While a tenant still occupies the home prior to move-out/ non-renewal OR Owner is a new client and still resides in the property, the showings will be booked with prospective tenant accompanied by their realtor. We typically ask the agent to request their showing 24 hours prior to appointment.
Once the property is vacant, we are able to utilize ‘self- showings’ – this allows more people to see the home (after qualifying questions and verifying ID) and apply quickly. We use the Century Electronic Lock Box system.
Recommendations for Successful Owners
- Equivalent of two months of mortgage payments
- $2,000 set aside for unexpected expenses (hot water heater, HVAC)
Rental Inspections & Required by City
Please note, if your property is in one of the following cities, you will be required to register your property and pass a Rental Inspection to obtain a Certificate of Occupancy prior to the approved tenant’s move-in: Balch Springs, Caddo Mills, Cedar Hill, Farmer’s Branch, Forest Hill, Garland, LAke Worth, Lancaster, Lewisvillle, Little Elm, Mesquite, North Richland Hills, Roanoke, Rowlett, Watauga, White Settlement.
Please check with your city if not listed above to confirm if an inspection is required.
Rental Payments
- Month One – Tenant to pay entire rental amount
- Month Two – Tenant to pay prorated rental amount (Rental Amount / 30 Days x Prorated Days = Prorated Amount)
- Remaining Months – Due on the 1st of each month
Late Rent Collection Process
- Late notices sent after grace period of 3 days u Termination of Occupancy sent with 7 days to move out of home
- Eviction filed through Nationwide Eviction (once filed, we CANNOT accept any payments)
- Court date is normally set within 3-4 weeks of filing u If possession is awarded, tenant has 6 days to move out of home
- If the tenant does NOT vacate, writ can be filed. Constable will then call within 5-7 business days to schedule move out
- Collection notice sent with the remaining balance due
Most of our leases give a 3-day grace period for rent payments. Delinquency reports are normally run the 4th of the month, depending on the day of the week (we do not run reports on weekends).
If the tenant has not paid by the 4th, we send a late notice via email. The notice gives them their total due and 3 days to pay the rent. If rent is not received within 3 days, a Termination of Occupancy is sent via certified mail giving them 7 days to vacate.
If the tenant does not vacate, we file eviction with Nationwide Eviction. Keep in mind we usually need to send someone to the property to verify if they are there.
Our goal is to collect rent each month and to keep tenants in the properties. It is very difficult to evict tenants that are only past due one month. The courts are very pro-tenant— we have seen many cases where tenants are allowed to stay and pay rent even once eviction is filed. Many factors can interfere with the eviction process and tenants always have the option to file a Paupers Appeal with the courts.
If a tenant is evicted, a collection letter (demand letter) can be sent. If no payment is received, the Owner has the option to file a lawsuit themselves.
Tenant Portal
Tenant will activate the portal in AppFolio. This is where they can make rental payments, submit work orders, and correspond with the McCaw Property Management office.
