Our Mission ERA Five Star Realty is a licensed full service brokerage company that provides property management services to our investor clients. We handle the day to day issues and activities of property management by helping to maximize our client’s investment income, and minimizing their expenses while maintaining the occupancy of their properties. Our Mission is to enhance the value and performance of each property in our portfolio by providing professional management services tailored to the goals and objectives of each owner. We strive to consistently exceed the expectations of both our clients and tenants. Use the links below to learn how you can get the property management service you deserve with ERA Five Star Realty! Getting Started 3 Easy Steps There are only a few steps required to have your rental properties managed by ERA Five Star Realty: Step 1: Contact us to discuss your property and needs at We welcome the opportunity to discuss your personalized needs and review our solutions. When you call our office ask to speak to the “Property Management Department” and speak with one of our friendly property managers. They will take the time required to determine what type of assistance you might need and answer any questions, then we can move on to the next step. Step 2: Property Visit A member of our team will drive by your property and will request access to view the inside of the property and do an assessment. We will be courteous and unobtrusive in our visit if the property is currently occupied. This visit is important to evaluate your property and ascertain the rental market value. This will help us to verify what services are required in order to add this property to our active rental property portfolio. Step 3: Proposal and Agreement Once we have visited the property, we will provide a personalized proposal for our services. This proposal can be delivered by e-mail, U.S. postal service or in person at our Tyler office location. Our property manager will go over the details and answer any questions prior to the signing of all agreements. You may view a copy of our “Residential Property Management Agreement” from the list of forms provided below in our FORMS section. After the agreement, disclosures, and property profile are complete we will begin our management process and add the property to our active portfolio. Activities for New Properties We provide a “Welcome Packet” to all existing tenants which details our processes and contact information. We will also contact each tenant to introduce our company and explain the process for the rent payment, repair requests and answer any questions they may have.
We prepare, advertise, and screen tenants for any vacant property as quickly as possible. Please read the disclosures regarding our company “Privacy Policy” in the FORMS list below.
We will have new leases or rental increases properly documented and signed as needed. Return to Top Fees Monthly Fee: Our monthly management fee is due and payable on the 1st day of each month. It is automatically deducted from each month’s rent. | Management Fee | 10% of gross monthly collected rent | | Minimum Management Fee (Vacant Property) | $25 p/vacant month after 30 days | | OTHER FEES | | Initial Set-Up/Start-Up Fee | $300 due at signing | | Extension or Renewal Fee for same tenant | $150 flat fee for doc prep | | New Lease Fee | ½ monthly rental amount |
Return to Top Accounting Services Every transaction affecting your account is recorded and itemized. Our computerized accounting system enables you to see exactly what has transpired with your property on a monthly basis. Copies of all work orders and receipts are kept on file and are available upon request. We provide duplicate copies of this information at the end of the year to help you with your tax preparations. In addition to the monthly statements we provide with your rental check, we also give each owner a complete summary at the end of the year of all income and expenses. Return to Top Reserves An initial reserve of $300.00 is required in order to start managing a property. The funds held will be used for deposits to turn on utilities (water, power, gas, etc.) and for advertising. When the funds are exhausted, we will contact you to replenish them. When the property is rented, a balance of $300 is required to be maintained for maintenance. Any maintenance or other expenses over the reserve ($300.00) will be made only with the approval of the owner unless it is an emergency. Return to Top Advertising Each tenant has their own way of locating rental homes in the Smith County area, whether it be driving around the neighborhoods, using a real estate agency, browsing the newspapers or local publications, or through the Internet. We will be found any of these ways. Rental signs are placed on the property (if allowed) and pictures of the exterior and interior are placed on our website, as well as many other websites along with rental information. A virtual tour may be offered on properties where allowed. This is included in our services. Owners are responsible for paying for additional print advertising. There is no additional charge to advertise on our website, as this is included in your initial set-up fee. We obtain many tenant prospects through various advertising resources, property management/relocation services, and websites which can be easily found through most search engines. Return to Top Fix Up Our property manager will set up an appointment with you to get acquainted with your property. We strive to have excellent homes and would like to acquire them in excellent condition. A manager will review the condition of your property and may require the homeowner/investor to “fix up” the property to our certain specifications to satisfy state safety laws and liability issues as well as to make your property more appealing to potential tenants. The quality of the property will often determine the quantity of the income received. Return to Top Collections In the event that there are funds due to the account from the tenant after they have moved out, and if they do not satisfy the account, derogatory remarks along with the value that was lost is reported to the credit agency. A collection on the credit report from a real estate company can hinder the tenant from re-renting through another property management company, securing a mortgage, etc. Return to Top Rent Collections Rent is due on the first day of the month and all late fees are addressed in each lease. An initial late fee of $40.00 will be assessed to the tenant on the 3rd day of the month if rent has not been received. An additional $10.00 per day fee thereafter will be charged for any additional days past the 3rd. On the 8th day of non-payment an “Eviction Notice” goes out to any tenant that has not paid the rent plus any late fees. Tenants will also be charged a $35.00 NSF fee on all rent checks returned, regardless of the reason. Tenants must then provide certified funds as payment for rent for at least 12 months before a personal check will be accepted again. Return to Top Tenant Retention Good Owner/Investor Tenants are the key to successful rental property management. We would like to satisfy our owners as well as the tenants and keep them happy by asking them to cooperate with the needs of the other party. Owners are required to keep their home in good condition, and tenants are required to maintain that condition. Return to Top Repair and Maintenance Services We understand your need as a landlord to be kept abreast of property condition both physically and financially. We try to contact the owner’s directly for approval for any maintenance issue that will require an expenditure of more than $100.00 per item, however, there are circumstances where we use our best judgment on repairs without the owner’s authorization for emergency maintenance. Emergency maintenance includes but is not limited to loss of air or heat, water damage, main drain stoppages, or electrical outages. Most emergency repairs can be fixed at the time of the service call. We use preferred vendors for most service calls due to the discounted pricing they give to our owners. There are times when we use other vendors due to scheduling, staffing, or stock availability. All vendors are required to be licensed, insured, and/or bonded unless owners select a vendor that is not. Prompt attention on the owner’ behalf to maintenance issues keeps tenants happy and prevents minor problems turning into high dollar expenses. We also recommend that our owner’ consider a Home Warranty policy on their properties to avoid major expenses on certain covered systems. Return to Top Property Inspections Prior to move-in our property manager will perform a comprehensive inspection complete with pictures to document the condition of the property. At the time of lease signing, the tenants are given a “Property Condition Form”, which is to be completed and returned to the property manager within 10 days after move-in. Tenants are to mark what is damaged, scratched, stained, dented, etc. at the time they move in. We will use this report upon move-out to compare and estimate any damages to the property during the duration of the lease. To enhance our services we include a quarterly inspection of both the interior and exterior of the homes we manage. Tenants are given advance notification of an inspection and are required to give access to our managers. If problems due exist, a picture will be taken and the tenant will be given a specific time frame to correct or repair the problem as noted in the tenant handbook. These inspections are very important and can help identify routine maintenance needed, ie. Exterior paint, roof repairs, deck repairs, etc. Inspections may also be done upon request by the owners. Return to Top Insurance ERA Five Star Realty does not maintain liability or hazard insurance that will cover any real property, property owner, or tenant of any property that we manage. We recommend that each owner contact their insurance providers to make sure they are sufficiently covered for rental property they own. We also require that a copy of the insurance be provided to ERA Five Star Realty at the time of the signing of the Property Management Agreement. This includes copies of any Home Warranty Policy purchased by the owner. We recommend that each tenant purchase “Renter’s Insurance” for their personal property while leasing a property that we manage. Return to Top |