Owner Welcome Letter
Welcome to Uptown Dallas Properties
You are being sent an Owner Portal Activation Link
Your Owner Portal will allow you to:
- Enter in your bank account information for direct “rent” deposit
- Be involved with all maintenance decisions
- Submit a prepayment, if we are to do any make ready work
- View your owner statements for end of year accounting
- View your work order labor summary
We will need your IRS W9 form filled out for either your social or EIN Tax ID
We have attached a Blank W9 for your convenience or go to https://www.irs.gov/pub/irs-pdf/fw9.pdf
Maintenance Authority of Broker Owner grants to Broker the following authority
All maintenance requests are submitted through their tenant portal and go directly to us
Maintenance supervisor (Andy Wilkinson)
- You will be “Bcc’d” on all correspondence
- Maintenance issue is determined
- We dispatch appropriate vendor to resolve the issue. Generally, if the issue can be resolved for a nominal expense, we will authorize the repair while on-site to save money on multiple service calls. For the more expensive issues, owner will be contacted with an estimate for approval
- (Important) Management will always pay the vendor for the Repairs
- Repair amounts are deducted from owners monthly rent
- Management fees are deducted from owners monthly rent
Landlords are required to have full coverage (liability) insurance for the value of the property as a rental/investment property.
**An insurance agency that a lot of owner’s use is www.nreig.com
For any questions or issues
Owner Free Conveniences
Simplifying your decision to hire us
Management contracts are on a month-to-month basis
Allow us to prove ourselves first and every day
Eases investors’ fears, since most owners will have little knowledge of the company they have chosen to hire!
You may choose to terminate at any time (never any locked in contracts)
Our Philosophy… ”to take care of the ones who take care of us”
Free Turn-Key Tenant Eviction Service
Allow us to save you Time and Headache
Guaranteed… For the Entire Length of All Leases
- File court docs
- Represent the owner on court date
- Obtain writ of possession for the property
- Meet the constable at the property
- Handle process of removing all the junk left in the house
Our Mission.. do “whatever it takes” to keep our owners & tenants happy
Free 24 hour “on-call” in-house maintenance
Maintenance never closes, paying $300/month for nighttime call service
Owner Free conveniences also include:
Easy-to-read monthly statements for your Taxes
Owner direct (Rent) deposits into owner bank account
Tenants pay rent directly online
Fast “turn arounds” of vacant units
Verification of Applicants:
- rental history
- credit check
- criminal background
- sex offender
- employment history
Compose all Leases
Complete rehabs of units
Provide Market Analysis
Work with investors in buying and analyzing properties
Owner Fee Pricing Structure
Uptown Dallas Properties management and Leasing fees
differ depending on….
A property’s rental price value
The number of properties you’d like managed.
We will work with you and make every attempt to meet your budget.
Management and leasing fees are a percentage of the rental amount,
For Example, a Property Leases for $1,000 a month.
If the Management Fee is 7% = $70/month management fee
If the Leasing Fee is 70% = $700 one-time payment for finding the tenant(s)
We will also split the cost for a Professional Photographer
to Market your Property (Cost: $50).
Uptown Dallas Properties fee structure differs from owner to owner,
Greater discounts are given for higher priced rentals and owners of multiple properties
We will make every attempt to meet your budget…
Plus, we do not want to miss out on a good client over a few dollars
So, let’s talk, I am sure we both can work out a rate reasonable for both sides.
Owner Optional Services
Optional Services Provided to the Owner for a Fee:
- Obtaining a multi-tenant license $350
- Help with obtaining a certificate of occupancy $65/hour
- Working and scheduling with the city for property inspections $75
Rental Qualification Guidelines
To promote equal treatment of all applicants to tenancy at a property managed by Uptown Dallas Properties, please be advised that our brokerage is required under fair housing to adhere to a standard protocol to approve or deny any application submitted. All person(s) applying to live at one of our properties must meet the following minimum requirements:
Credit Check, Criminal Background, Rental History & Income Verification
Your landlord will not give us any rental history until you give 30-day notice.
To apply for a property; please go to UptownDallasProperties.com
- Upload a photo your driver’s license & picture of all pets
- Pets on case by case basis with owner’s approval & $20/month pet fee
- Aggressive breed pets, or aggressive breed mixes, are prohibited
Income must be at least 3 times the rental amount
- Upload documentation of income at the bottom of the online application
- Recent paycheck stubs or bank statements
- If you are self-employed: upload last year’s tax return/last 6 months of bank statements
The combined income of all applicants must equal three (3) times the amount of the gross monthly rent. A guarantee or guaranties may be used to qualify.
Applicant must show that at least 50% of all their current credit accessible accounts are in good standing. No available credit will be considered as good credit but will require at least one guarantee and/or an additional deposit may be required.
All applicants must be able to show a minimum of six (6) months verifiable employment history with his or her current employer and/or show that applicant is currently a full-time student. Without one of the two options, a lease guarantee will be required.
- Applicants under the age of eighteen (18) will be listed as occupants only and will not be considered a leaseholder
- Each applicant must provide a copy of his/her government issued ID and allow it to be photocopied
- A misdemeanor or felony conviction for ANY sexual related crime will result in automatic denial of application.
- A felony or misdemeanor conviction for any drug related crime (distribution or worse), violent crimes or crimes against persons may result in denial of application.
- Falsification of any item pertinent to the application will result in automatic denial of application.
A Lease Guarantor must
- Make at least 5 times the amount of the monthly rent
- Agree to complete and submit a separate Guarantee Agreement
Notwithstanding local, state or federal housing ordinances, familial status is defined by HUD as children under eighteen (18) years of age domiciled with parents or legal guardians with legal custody and/or someone who is pregnant and/or in the process of gaining legal custody (with written permission of the courts).
Total Maximum Occupancy will be as follows:
- 1 Bedroom= 2 Tenants/Residents
- 2 Bedroom= 3 Tenants/Residents
- 3 Bedroom= 4 Tenants/Residents
- 4 Bedroom= 5 Tenants/Residents
Tenants are required to pay a security deposit. Please refer to the Residential Lease (Paragraph 10) to confirm this amount, as well as, other provisions in the lease upon which said security deposit is NOT refundable.
If pet(s) are an option, the pet fee can be $250 – $500 per pet, depending on that owner. Pet deposits are refundable, we want to give you incentive to take care of your home. Tenant may at no time permit, even temporarily, to have a pet or animal of any type on the property without approval, a pet agreement and a pet deposit. If Tenant fails to comply with this provision, there is an $400 initial and $40 per day fine and landlord remedies set-forth in paragraph 9 of the lease.Contact Us
For any questions or issues
Call your insurance agent and tell them your home is now a rental
Landlord policies generally cost about 25 percent more than a standard homeowner’s policy because landlords need more protection than a typical homeowner.
Landlord policies provide property insurance coverage for any physical damage to the structure of the home caused by fire, lightning, wind, hail, ice, snow or other covered perils. It also offers coverage for any personal property you may leave on-site for maintenance or tenant use, like appliances, lawnmowers and snow blowers.
The policy also includes liability coverage; if a tenant or one of their guests gets hurt on the property, it would cover legal fees, due to injury claims, and medical expenses.
Most landlord policies provide coverage for loss of rental income in the event you are not able to rent out the property while it is being repaired or rebuilt due to damage from a covered loss. This coverage is generally provided for a specific period of time.
Uptown Dallas Properties always require Renters Insurance
As the landlord, your coverage is only on the structure itself and your financial interest in it. Your tenant’s personal possessions are not covered under your policy. In order to avoid disputes in the event of damage to the renter’s belongings, many landlords require a tenant to buy renters insurance before signing a lease.
Multi-family License Inspection Checklist
Multi-Family License Inspection Checklist
- Registration is up to date
- Certificate of Occupancy (CO) is up to date
- Weather stripping
- Keyless deadbolts and peepholes on all doors
- Leaks under sinks
- Toilet flushes
- Hot water is 110 degrees
- Holes in walls
- Exterior wood peeling
- Brick cracks are filled in
*Strange, but smoke detectors are not checked
Sample Deposit Return Itemization
This itemization is provided for tenant protection. Amount of any deduction will be honestly and efficiently calculated. Below are approximate item costs upon move out. Leaving the property in the same condition as it was at move-in, allows the tenant’s deposit to be totally refunded. Tenant is not responsible for normal wear and tear. To schedule your final walk-thru, email maintenance: Tony Castro (firstname.lastname@example.org)
If the tenant does not schedule a final walkthrough; the amount of the deposit returned is at owner’s discretion.
End of lease date:
Tenant(s) forwarding address:
Total deductions to the security deposit $:
The deposit return (will be mailed within 30 days) in the amount of $:
Represents the balance of the security deposit you tendered under the above-referenced lease The deductions $0 exceed the security deposit tendered. Landlord hereby demands payment of the excess. In accordance with paragraph 10 of the lease, the tenant must pay the excess within 10 days after tenant receives this notice. Failure to pay the excess may expose tenant to additional cost and liability such as collections, court costs, and attorney fees.
- 1,000 sq. ft.($250)
- 1,000 – 1,500 ($300)
- 1,500+ ($350)
- Dishwasher ($40)
- Oven/Stove ($60)
- Refrigerator ($60)
- Microwave ($25)
- Tub ($80)
- Refinish hardwood floors ($2.00 – $2.50 per sq.ft*)
- Floor scratch repair or damage* (TBD)
- Replace carpet ($35.00 – $45.00 per sq. yard*)
- Small hole ($30 per)
- Fist size holes ($100 per)
- Paint walls ($75 – $125 per wall)
- Small hole ($30 per)
- Unreturned keys, garage/gate door openers ($75)
- Pet violation (TBD)
- Get key from owner, Sign in yard, Lockbox
- Marketing on MLS, Realtor.com and on over 50 Leasing Specific Websites
- Free…25 Digital Property Pictures on Every website
- Free…Process all Evictions
- Credit-Criminal, Sex Offender, Income, Rental History verifications
- Rekeys, Keyless Deadbolts, Install Smoke Alarms, Peepholes
- Move out Cleaning Charges Outline and itemization of Security deposit
- Make Ready’s Scheduled (Cleaning, Painting, etc…)
- Direct Deposit Available for Owners & Direct Withdrawal Available for Tenants
- Drafting and Signing the Lease
- Tenants Sign and Commit to our Move out Cleaning Charges
- Verify Tenants transfer utilities into their name
- Property Manager takes 50+ Pre-Move in Pictures for documentation
- Inventory and Condition form given to tenant
- Keys and garage door openers are given
- Property Manager inspects house (smoke alarms etc..)
- Establish lawn and pool service if required
- Report to landlord maintenance and repair issues
When the Landlord can Keep the Deposit and First Month’s Rent
A tenant for a property I manage entered into a lease with the landlord and paid a security deposit and first month’s rent. The day before the date the lease period began, the tenant notified me that he had changed his mind and no longer wanted to rent the property. The tenant asked me to send the security deposit and first month’s rent to his new address, but the landlord wants to keep the funds. Can the landlord do this?
Maybe. The landlord has an obligation to secure a satisfactory replacement tenant. A tenant may also attempt to locate a replacement tenant. If a satisfactory replacement tenant who can move in by the lease’s commencement date is not found, the landlord may hold the tenant in default and exercise the remedies in Paragraph 27 of the Residential Lease. This may allow the landlord to keep the security deposit and first month’s rent.
On the other hand, if the landlord does find a satisfactory replacement tenant who can move in by the commencement date, the landlord may only deduct from the security deposit and the first month’s rent either a sum agreed to in the lease as a cancellation fee or actual expenses incurred by the landlord in securing the replacement tenant.