Owner FAQ

Owner

FAQ

Here at Ely Properties, we are happy to answer any questions you may have about Property Management

Don’t see your question here? Email us at info@elyproperties.com

Ely Properties General Info

We are proud members of the Austin Board of Realtors (ABOR) and the National Association of Realtors (NAR)
We work our hardest to go the extra mile and ensure that we provide stellar service to both our owners and tenants!

General Property Management Operations

We have quarterly inspections for each of our tenant occupied properties, and we walk our Home Owner Associations two to three times a week.
We post our listings on over 60 realty sites through our leasing software, along with quality MLS listings.
As long as we can be showing the property, and the property is priced appropriately to the market, it could take anywhere between 10 to 30 days.
We provide our owners with all of our observations made during our quarterly inspections, along with notes of any issues found when maintenance requests are submitted.
We collect rent on the 1st of each month, and we work to disburse money to all managed owners before the 25th of each month.

Working With Applicants and Tenants

We screen all of our tenants to make sure they fit our credit criteria and tenancy verification. In addition, if the tenant is a student, a qualified guarantor must commit to the financial obligation.
Any issues caused by tenants will be repaired by our maintenance crew, and will be billed to the tenants accordingly.
We will insure that all necessary work is performed, and anything that is caused by tenants will be charged to the tenants, starting with their deposit.
Typically we have a "no pet" policy, though this can vary from unit to unit.

Property Maintenance

We have our own in-house maintenance team, and we hire licensed technicians for electric, plumbing, and HVAC as needed from our trusted vendors.
While we do not require you to use our vendors, the cost is usually significantly cheaper.
It varies on what is being repaired, and we recommend that you put away 10% of the money you bring in for maintenance. For reference, the IRS depreciation for a single family residence is the value divided by 27.5 years. Meaning a $150,000 home would on average cost over $5,400 per year to be maintained appropriately.
We work our hardest to ensure quality of living for our tenants, and will perform needed repairs if the owner does not respond to our attempts to contact them.

Costs and Getting Started with Ely Properties

On average we charge 7-8% of the gross monthly rent of all of the properties we manage.
Get in touch with us! We will send you our management agreement via docusign, and then we can collect all property details and keys.
Typically we sign a 12-24 month agreement, but if at any time you are dissatisfied with our services we will accept a termination of our services with at least 30 days notice.