Owner FAQs

Answers to your frequently asked questions

• Am I required to make my property available to Section 8?

  No, each owner is allowed to make that choice independently for each property they have.

• Are you licensed?

  Yes, my Texas state license No. is #301311

• Can I reach you after hours?

  Our business hours are from Monday - Friday, 9:00 AM to 6:00 PM and with an answering service to assist you around the clock 7 days a week.

• Can you put the money directly into my account?

  Yes. You can choose which bank account you would like to attach to your Owner Portal so you can both deposit and receive funds.

• Do I get to see the lease or sign it?

  The Property Management Agreement (PMA), allows us to act on your behalf. We will do so per the PMA contract and your wants and needs while presenting them to prospective tenants. Once the residents have signed the lease agreement a copy of the executed lease will be sent to you to have for your records.

• Do you sell real estate too?

  No. Though our agent team members hold real estate licenses, our focus is property management services and creating sound rental investments for our owners.

• How and when do I get my checks?

  Through the Property Management Software we use, we are able to link your bank account of choice to electronically transfer the rent funds to you. Rents are disbursed from the 3rd through the 7th of each month, depending on calendar cycles.

• How is rent collection handled?

  Rent is due the 1st of each month. Late fees are assessed if the resident fails to pay the monthly rent by midnight the 3rd day of the month.

• How long of a lease do you sign?

  The lease terms will vary based on what you, the owner, want and need. We have month to month agreements (at a premium), six month contracts, 1 year, or even 2 year lease terms if you prefer.

• How much security deposit do you charge the resident?

  The Security Deposit is usually one month’s rent, plus an additional non-refundable cleaning deposit of $350.00, and if you allow pets on your property, an additional $250.00 non-refundable pet deposit is collected, per pet.

• How soon can you start managing my property?

  We can begin managing and marketing your property as soon as a Property Management Agreement (PMA) is signed.

• What type of properties do you manage?

  Single Family Homes, Duplexes, Fourplexes, and Condominiums at this time.

• What type of reports do I get and how often?

  You will receive a monthly statement showing income and expenses incurred for the period from your property manager. In addition, each year you receive a 1099 for income tax purposes. You, as the owner, can access your owner portal to see several additional types of reports such as a balance sheet, cash flow statement, and a general ledger report, just to name a few.

• Who holds the resident security deposit?

  The security deposit is held by Heritage Property Management Company in their bank trust account. You are able to view the deposits held via your owner portal at any time.