Austin Property Management Blog

[Video] For Lease: 1150 Arbor Knot Drive

System - Tuesday, February 20, 2018


Rental Homes: What's a Good Cap Rate?

System - Sunday, February 4, 2018


As with any investment, everyone wants to know roughly how long it will be for them to earn their initial back, otherwise known as cap rate. It’s a term that is widely used in the real estate investing world and the higher it goes the better.  Usually when discussing cap rate, investors are dealing with a multi-family project or commercial building, but what about rental homes? What’s a good cap rate for an investment property?

No two rental properties are the same, and there is no blanket answer for cap rate. To accurately calculate the cap rate of your investment property one must consider a multitude of external factors as well as the home itself.

Where the property is located will have a big say in how lucrative your investment will be. As they say, “in real estate, location is everything.” How strong is the rental market where you are looking to purchase a rental home? Typically, large metro markets with great universities and younger population make for prime rental home locations. By knowing where you want to purchase a rental home investment property you can begin to see the bigger picture. How much will the property cost in your chosen market? What’s the unemployment rate of the area? Median household income? Where you chose to buy will play a large impact on your rate of return. By answering the above questions, you’ll be able to narrow down desired markets to purchase within.

With all of that stated, what are investors getting as cap rate for their rental home investments? In a market like Austin, Texas’, a good cap rate for a single-family rental home is in the 6-8% range. This is generally regarded as a good return, as Austin has a strong rental market. According to Nolo, 4-10% is a reasonable range to earn from your investment.

Do you own rental properties and not sure what your cap rate is? Just subtract your annual expenses from your annual rent collected and then divide that number by the purchase price of the property. Per the formula below:

(Annual Rent – Annual Expenses) / Purchase Price

This number will give you an accurate representation of how long you have or have left till you’ve recouped your initial investment from a rental property purchase. While cap rate is an important statistic to track, basing an a rental home acquisition off this number alone won’t give you the full picture you’re in search of. You should still run regular price comps in the area your rental is located. Your home can also appreciate in the years following a purchase and this number isn’t factored into cap rate.

If you’re an investor and have interest in finding different markets with great cap rates to play in, you should consider a city with a strong rental market like Austin, Texas. The rental market is incredibly strong and the influx of people outweighs those that are leaving. Even if you’re not in the region, partnering with an Austin property management company or property manager in your area can make rental home investments a breeze. 


[Video] 424 Canadian Springs Drive | Austin Homes For Rent

System - Sunday, January 28, 2018


424 Canadian Springs Drive, Leander, Texas 78641

New construction home in Leander available now! Be the first to live in the home!

What to Expect From an Austin Property Manager

System - Thursday, January 25, 2018

When it comes to your Austin rental properties you want the best. A rental property is an asset proven to be a great investment over time and you want to make sure it’s cared for in a way that ensures longevity, as well as income. You’ve considered your options and have decided being a full-time landlord isn’t for you and we totally understand. The instant you put occupants in the property that asset is no longer just your rental property, but also someone’s home that you must start considering when making decisions regarding you’re Austin, Texas rental property.

So you’ve decided to partner with an Austin property management company. A quick Google search reveals you have options when it comes to property managers, so how do you decide who to hire? Well, it turns out not all Austin property managers are created equal. Like any industry, you’ll find a spectrum of companies in Austin offering different services, claiming to be the #1 Austin property manager and the best financial option for you.

So what should you be expecting from your Austin property manager?

Simply put, a lot.

Property management has a lot of moving parts that need to work in unison for you to experience a stress-free time. Partnering with a dedicated team with years of experience should be the first thing you look for in an Austin property manager.

A Dedicated Team

While there are individuals successfully managing properties for others, having a dedicated team for property management makes everything seamless. For your property(s) to run smoothly, it takes a team effort from everyone, marketing to maintenance. Your property experiences various stages of the rent cycle as the time passes. At times it’s vacant and needs marketing, at times it’s occupied and your tenant’s need support, and sometimes your property is experiencing difficulties and needs repairs. Partnering with an Austin property management company that has you covered regardless of the stage your property is in can leave you with a stress-free rental property!

Stone Oak’s highly experienced Austin property management team consists of individuals from different professional backgrounds dedicated to keeping your investment up to par year-round.

Marketing

What is your current property manager doing to market your property? It’s 2018 and the times are changing. The internet now dominates the market and your probably still being told the usually ‘MLS’ spiel for marketing your property.

Marketing your Austin rental property goes beyond just putting the property on the Austin MLS and letting it syndicate to the various websites tenants may have chance of finding your property on. Sure, you can find tenants this way, but how much of an effort is being made and how fast is it happening? Stone Oak approaches rental home marketing differently. We have an in-house team that are Google Partners & hold certifications in the most-used digital marketing platforms, such as Facebook. We actively target potential renters using various media channels and are constantly putting your property in front of 1000’s of potential Austin renters. Our website, www.stoneoakmgmt.com, experiences 1000+ unique visits a week from Austin area renters looking for rental homes just like yours! Our efforts here allow us to offer Stone Oak’s 30 Day Rent Guarantee.

Potential tenants are rigorously screened and vetted before being put in your property. When Stone Oak places a tenant in the property, we have full confidence that the tenant meets all desired criteria and could be in the property for beyond just one lease term.

Communication

What’s important to you is most important to us. Over the years, in speaking with hundreds of different Austin property owners, communication is every landlord’s #1 characteristic thing they look for in a property management company. Stone Oak practices single-point-of-contact management. Once you sign up with Stone Oak Property Management, your property(s) is assigned a portfolio manager. This individual will be the sole person you contact for everything involving our services. No hoops to jump through, no being put on hold to talk to another department, just you calling a live person every single time who is going to take care of anything you need done. Your tenants even have a dedicated individual to contact regarding maintenance for their property. This individual coordinates the entire thing from start to finish, resulting in quick repair times and happy tenants!

Owner and tenant satisfaction is our #1 priority at Stone Oak. If there is ever an issue at hand you can expect a quick resolve for all parties involved.

Transparency

Your Austin property manager should be completely transparent and run an ethical business. Resorting to Google and Yelp, should help you get an idea of what other client’s think of the various property managers in Austin, Texas. It’s a good way to make sure that not only do owners like working with this property manager, but also that their tenants like renting from them and having them as landlords.

Stone Oak and our entire staff are dedicated to running an ethical business with transparency for all involved. As a property owner with Stone Oak, you’ll have the means to track all financial reporting tied to your property and keep tabs on what’s happening with your property in real time. Our software allows you to login and check on all of this from anywhere. Your property management company is basically an extension of yourself and has the power to make financial decisions for you, how transparent is your current manager?

Convenience

Convenience for your tenants is key. Your Austin property manager should have systems in place to allow for the payment of rent as well as notify the manager of maintenance or any issues. As the owner of the property, you should be provided with the means to check in on your property and the status of it.

Stone Oak utilizes the best software suite in the business, providing convenient tools for both owners and tenants. Your tenants can pay their rent, report maintenance issues, and connect with the entire staff with the click of a button. You can track financials and the details of your property in real time via our owner portal on our website.

So you’ve decided to hire an Austin property management company to help with your rental portfolio. Now that you have a better idea of what to expect from a quality firm, be sure to shop around options and speak to everyone that seems like a good fit for you. Be sure to remember that your property manager is an extension of yourself and partnering with a team you can trust is key!

Renting is Over Taking the Housing Market

System - Sunday, January 14, 2018

According to the Urban Institute, single-family rental homes are growing faster than any other demographic of the housing market. Their research shows that the single-family rental market outpaces both single-family home purchases as well as apartment purchases.

“Young people are waiting longer to get married and have children, which can make renting more economical”, says Sarah Strochak of the Urban Institute as she expanded on how single-family rentals have risen 30% in the last 3 years.

As younger generations become more active in the housing market we should expect to see these figures climb.

The rise in renting

The 2008 financial crisis had a devastating effect on U.S. markets, especially the single-family housing market. While we’ve climbed back to traditional levels for things such as foreclosures and underwater mortgages, one thing that hasn’t recovered is the American population’s willingness to buy a home. The American dream of owning a home slowly began to wither and has gone from an investment everyone hoped to make to one that younger generations, such as millennial, all of a sudden have to question. Today, SFR’s and townhome rental properties make up 35% of the country’s rental properties compared to just 31% in 2006.

Without a doubt, millennials are the demographic leading this trend of renting over buying and a myriad of factors contribute to that fact. That myriad of factors includes everything from stagnant incomes, student loan debt, lack of commitment to an area and much more. For a generation that was coming of age during and just after the 2008 crisis, the hesitation to commit to a 30-year mortgage note isn’t unfounded.

However, it’s not only millennials who are affected by this ongoing shift in the housing market. Americans over the age of 55 have grown more accustomed to renting. According to RENTcafe, renters aged over 55 has grew by a total of 28% between 2009 and 2015. In areas such as Miami, Houston, and Minneapolis, more than two-thirds of new single-family renters were 65 or older.

Why did renting become so popular?

This trend in the rental housing industry was born when the recession took place. During the crash, the prices of nearly ever asset fell, including real estate. This opened the door for powerful firms and individuals to gobble up properties at huge discounts. Institutional investors were able to purchase the majority of the homes that fell under foreclosure and hard times. For example, from 2007-2010 in Phoenix, Arizona, the number of homes occupied by owners – not renters – fell by 30,000.

Renting instead of Buying

Renting can be a sensible choice over buying when looking to segment away from the apartment lifestyle, maybe even considered a stepping stone to actually purchasing. The attraction is obvious – buyers don’t need a hefty down payment to enable the sale. Traditionally, 20% is needed on a purchase but some metropolitan markets are becoming so expensive that just a 5% down payment can seem daunting to individuals.

What to know before renting a single-family residence

If you’re an individual thinking of making the switch from an apartment to a SFR, there are a few things to keep in mind. In a single-family home, utilities will be considerably more expensive. Maintenance also becomes a bigger issue when you find yourself in a home. Usually, it will be written into your lease agreement if you have any maintenance obligations to stay on top of. Renter’s insurance is important once you’re in a SFR, as your landlord’s policy more than likely won’t cover damage to or theft of your property.

If you’re an individual looking for some of the best properties to rent in Austin, Texas, be sure to check out Stone Oak Management’s available Austin rental properties

Austin Property Management in 2018

System - Sunday, January 7, 2018

2018 has arrived and ideally you’ve placed a tenant within the last few days on a 12 month lease and won’t have to worry about your Austin rental home for the next 12 months. That sounds ideal for a lot of us! If only rental properties and rental income were that easy.

For the upcoming 2018, put your property in hands that you can trust with Stone Oak Property Management. Your property investment is nothing to joke around with and partnering with a premium management service is in your best interest. Austin property managers do much more than just collect the rent, and handle maintenance requests from your tenants.

  As we begin the New Year, maybe it’s time to consider a better property manager. Some benefits of Stone Oak:

  • Property Management without breaking the bank. Stone Oak’s service charges 7% of your monthly rent without charging any of the outrageous fees. It’s a better deal on better management.
  • NO CONTRACTS TO SIGN. You’re obligated to work with no one!
  • Stone Oak has had 20k+ prospective tenants visit our website in the last 12 months giving your property the exposure it deserves.
  • Our service is backed by 4 guarantees!
  • Like dealing with a dedicated, responsive team. Owner and tenant satisfaction is our #1 priority and we take that very seriously. Our owners are given the tools to keep track of everything as well as the direct phone lines to those on their account. Tenants in Stone Oak properties enjoy online tools to pay their rent, have maintenance taken care of swiftly and much more!

Learn more about Stone Oak’s Austin property management services!

Looking for the best service for your Austin rental property in 2018? With Stone Oak Management, you can enjoy increased ROI, shorter vacancies, responsive management, no contracts to sign and more! 

Avoidable Mistakes Landlords Make with Rental Agreements

System - Thursday, December 14, 2017
avoid these mistake when drafting a lease agreement

While universal leases are available, such as the Texas Association of Realtors’, they can’t possibly satisfy every type of lease term and if you own properties you’ll know every lease is different.

While utilizing a universal lease form is possible, it’s imperative to note that regardless of if you hire a property manager or self-manage your Austin rental property, there will be specifics that need addressing when drafting up a lease with a potential tenant.

As a landlord, there are many factors to consider when filling a vacant rental. If you don’t think you have the time, shopping property managers and what they offer can help out big time. When owners get in a rush to fill their vacancies due to shortage in income mistakes can be made in drafting the lease. In this rush to fill the home, dire mistakes can be made in the rental agreement.

Don’t let the below errors be a detriment to your property for the entirety of the term.

Not Property Identifying & Vetting the Tenants

Regardless of how obvious this may seem, you’d be surprised how many landlords we hear from whom self-manage and were in a bind with a vacant property at one point. Instead of practicing patience, a lot of these landlords resort to craigslist and the many other available resources to find tenants and seem to place the first individual who shows interest in the property.

You must remember, a rental agreement is a legal document that holds significant weight. You must always refer to the tenants by their full legal names in the agreement. No nicknames, no shortened names – Bob is Robert in most cases, so make sure Robert is shown. Good practice is asking the tenant for their driver’s license or identification that will state their legal name.

We partner with Texas Tenant Evictions, and after hearing some stories from our friends over there, we cannot stress this part enough. Failing to do so can result in a tough time in enforcing your lease in the event of a landlord-tenant dispute.

No Due Diligence in Setting Your Rental Rate

A key element, and probably one of the most important to you as the owner, is the rental rate. In most metro markets, rents are on the rise year after year. Failing to do your due diligence on the market and what it will allow your property to rent for is a mistake that is easily avoidable.

This error can cause one of two things – an overpriced rental that doesn’t get the traffic it deserves, or an underpriced rental that will lock a tenant in place and earn your less than what your Austin rental is worth.

If you overprice your Austin rental property, the pool of potential tenants can decrease significantly, and your vacancy can last much longer than you’d prefer. If you under price your property, you’re hurting your bottom line. A great way to ensure your Austin, Texas property earns the MAX rental rate, is to talk to a Stone Oak Management market expert. As a certified property management company and real estate brokerage, we have access to tools that assist in providing an accurate rate.

It’s good practice to re-evaluate your rental rate every time you place a new tenant to ensure you’re in-line with the current market trend and receiving the max rate.

Using a ‘Cookie-Cutter’ Lease Agreement, Instead of Personalizing It

Universal lease agreements are a base model that ensures the bare minimum is covered. While filling in the blanks can get you a tenant, this is a bad idea and one that Stone Oak Property Management discourages. You, or your property manager, should use this opportunity to be as specific as possible. Some examples of clauses to include may be:

Will the tenant be responsible for some of the home’s maintenance, and for which ones?

Pets, which ones will you allow or disallow? Will you have pet rent on top of the normal rate?

Tenant’s like to feel at home in their new place. What changes are you willing to let them make to the property?

Do you enjoy when your tenants smoke in the property? Probably not.

Personalization is key to a successful rental term, both while it’s happening and after the tenant moves out. This is your chance to set some rules and outline the consequences for breaking said rules. However, be sure to follow your state’s fair housing laws and the like.

Failure to do so can result in some legal trouble headed your way.

Not Addressing Late Rent in the Agreement

Above, we mentioned that setting the rental rate accurately is incredibly important. It’s just as important to address the issue of late rent. Imagine this – your mortgage provider is very lax on when your payment is due. Do you worry about paying that bill on time every month in that case? Maybe, maybe not. The same applies to your tenants. We live in the age of consumerism, and people love to spend their money on unimportant things. In fact, 69% of Americans have less than $1,000 in savings. You need to make sure you get what’s rightfully yours and that starts in the lease agreement.

Be sure to include the rental rate, a grace period, late fees, and an eviction process for non-payment of rent in your agreement. In the event you ever run into an issue with your tenant, you now have a legal document backing you up that states both parties agreed to the terms and essentially has your back as the owner.

This is important, as your rent probably helps cover the mortgage on your investment property. Failure to address these key factors in the agreement can set you up for continuous late payments.

Not Setting a Term for the Lease

It’s important you set a designated lease start and end date. With this your tenant knows when they can move in and when they have to move out, in the event of non-renewal by both parties.

While it seems easy enough there are a few things that are easily overlooked and can wreak havoc later on down the road. You and your Austin property manager should carefully consider including into the lease.

  •          Automatic renewals – everyone can be a charmer when you meet them for the first time. A year from now? No telling. Avoid automatic renewals to protect you, the owner.
  •         Instead, consider drafting a month-to-month renewal option into the lease. They are easy to get out of for both parties and are a safe option for you down the line.
  •         Include a set amount of days that notice is to be given if the tenants want to move out. Failure to do so can allow your tenants to up and leave at the end of a month with no warning and leave you in a bind with a property earning no money.

Now, these mistakes aren’t necessarily the end of the world, but they can provide you with a lot less stress down the road. Your lease is a reference point you or your tenants will refer to in the event of an issue. The more thorough you are in preparing it the better you are covered. A proper lease agreement protects not only you, but your tenants and can satisfy all parties.

If you own a rental property in Austin and need helping drafting a legally compliant, comprehensive lease agreement the contact Stone Oak Management today! Our extensive experience and knowledge of landlord-tenant laws will leave you feeling that you’re in good hands.


[Video] For Lease: 2428 Green Meadows Lane

System - Tuesday, December 12, 2017


1,506 SF | 3 Bed | 2 Bath

The Benefits that Make Real Estate a Great Investment

System - Tuesday, November 28, 2017

Investing can mean a multitude of things to someone and comes in all shapes and sizes. Some individuals invest in stocks based on their perceptions of a company and the business they are doing. Others have recently jumped on the latest cryptocurrency craze, riding Bitcoin to incredible success. The word investing wears many hats and there are hundreds and thousands of ways to invest your money. One of the most proven, long-term investments that exists is real estate investment.  We regularly work with real estate investors here at Stone Oak and have heard a multitude of reasons for getting into the industry. What makes investing in real estate so beneficial?

Tax Benefits

Investing in real estate continues to be one of the ideal ways to generate wealth and cut taxes. As an investor, you’ve probably mastered tax season by now. If not, it’s not too late to learn. Real Estate offers many benefits to those who can play the system. 

You have the ability to recover the cost of income generating property through its depreciation, using 1031 exchanges to defer profits, borrowing against your equity to gobble up more investment real estate, and you can also deduct mortgage interest come tax time. Investopedia wrote a great article that goes more in depth on the tax benefits of real estate.

Appreciation

With time all real estate appreciates. From 1968 to 2009, the price of homes increased by an average of 5.4% annually. This article provides more info about the historical appreciation of U.S. real estate. This is the nationwide average so that number will fluctuate as you look at different markets. If you had purchased real estate in Austin, Texas in 1968 you would have one hell of a portfolio in the year 2017!

With other investments, there isn’t a lot you can do to personally increase the value. If you invest in stock, you are at the mercy of that company to continue increasing the value of your shares. Real estate is a completely different asset and allows you to manually increase the value of a property. Upgrades to homes can boost the value of that home. This is why wholesalers, with a keen eye for what a property requires can make a great living off flipping properties for profit.

Rental Income

Now you’re talking our language. If you find yourself with a portfolio of homes or even just one home in a good rental market you can begin earning residual cash to cover the home’s mortgage and line your pockets. We like to equate this type of investment to dividend paying stocks, because that’s about as close as it gets. The more of that stock you own the higher your dividend, this can also be said about rental homes - the more you own the greater the payout! 

Dubbed 'rent-estate' by some - rental properties are a great source of wealth generation!

However, becoming a landlord isn’t as simple as finding a tenant and earning cash. If you’d like to explore rental income with your portfolio and don’t have the time to deal with tenants, maintenance & upkeep, and other necessities we suggest you shop around property managers in your area. A great property manager doesn’t cost, it pays!

Getting in Under Market Value

Have you ever come across this? You’re in your car at a busy intersection and you see a stick sign on the side of the road stating “We Buy Homes” or some other iteration of this. Surely you’ve seen these signs around, especially if you’re in a metro market. This is due to the barrier of entry on real estate not having a set point. Sure, you can get on the MLS or any home search site in your area and find thousands of homes priced at market value, but this isn’t all that is out there. As an investor you can buy up properties from owners who need a quick pay day, bank foreclosures and quick sells, through wholesales in your area, as well as other sources. You can even utilize platforms like Facebook and find investment groups to join who regularly offer properties under market value and the like - we’ll leave it to you to find these groups for yourself. This isn’t the case when buying stock or most other investments. Real estate offers you the unique ability to negotiate on your purchases! I once bought a distressed home in Austin, Texas for $1 – which I had to pay in quarters because that’s all I had on me at the time. Granted, this was the early 2000’s and a deal like that is one in a billion now. Most other investments require a purchase at face value – not real estate!

There are many more  investment options today, but it’s hard to come across a more safe or lucrative investment than real estate. Every investment has risk, but if you’re knowledgeable and cross your T’s and dot your I’s you’ll come out ahead in the long run. A small amount of investment opportunities in the world can provide you with the kind of financial benefit that a real estate investment can. Whether you have an existing portfolio or have yet to start in real estate, now is the time to look into real estate investments! 

5 Tips for Owning Your First Stress-Free Rental Property

System - Wednesday, November 15, 2017

5 Tips for a Stress-Free Rental Property


For those who don’t, owning a rental property can seem like this great asset that’s going to bring you residual income month-in, month-out. However, for those who do own rental properties, you know this isn’t the truth. Rental properties are more in a category of their own when it comes to types of investments. You’re not only dealing with an asset that you purchased for X and expect Y as a return, but instead you’re dealing with an asset closely tied into others lives as their home. We don’t blame you if you’re in it for the money - a rental portfolio is still a great way to build wealth – but never forget that to your tenants your investment is home.

So, you’ve decided you’d like to start building your rental portfolio. The first step is getting that first property. Then what? Our Austin property management team has thrown together these 6 tips for owning your first, stress-free rental property.

Hire a Property Manager

Of course we’re biased; we’re a property management company after all. There is no denying the return on investment a great property manager can bring to an owner. Effectively putting your investment on auto-pilot, a property manager allows you to be as hands off as you’d like with your property. It doesn’t get much more stress-free than that.

Rental Home Owner Speaking with a Property Manager
A property manager can custom tailor solutions to fit your property's needs

Property managers provide many benefits to you compared to self-managing your rental property. They have the systems and practices in place to run your property like a machine. From leasing your property to handling the midnight maintenance calls, a good property management doesn’t cost – it pays. A to Z, partnering with an experienced firm can have you earning residual income for years to come with little to no responsibility.

Be wary though, not all property managers are the same. Some charge a percentage, some a flat fee – but chances are if the deal seams to good to be true, that’s because it is. We regularly talk to owners who have burned by a property manager in some way or form. Always shop around your market for a property manager and don’t go with the first company you contact. Instead, go with what you feel is best for you and your rental property. If done right, this first step can render the next 5 steps useless as a property manager would take care of them all!

Undecided on whether a property manager is right for you? We've covered this topic in our blog before and you can read it here!

Accurately Price Your Rental Home

Accurately setting your rental rate is an important factor in owning a successful rental property. Set your price to high and you’ll be passed up by quality tenants, set your price to low and you could be in for earning significantly lower than your property’s worth for the next 12 months. Every owner we’ve ever dealt with wanted to try getting more for their property than realistically possible, it’s human nature. If self-managing owners made up the majority of the market it would be interesting to see the fluctuations of prices by neighborhood alone.

Every single property manager you come across is almost definitely offering a ‘free rental analysis’ – as a hook to get you in. Use this to your advantage and get comparisons from them all. Property Managers, at least in the state of Texas, are required to be licensed Real Estate Brokers. They have a suite of tools they use that gives information not made available to the general public.

Put yourself in the position of the tenant. No one likes paying a large sum of money every year, relative to their income, just to live. Tenants are looking for the best deal in whatever neighborhood they want to live. If you’re competitively priced you’ll have more luck shorter vacancies and less stress knowing you won’t have to float the mortgage while you get passed up by every tenant on their search! 

Maybe you own properties in Texas! You can visit here to learn what your property's rental rate is. 

Routine Inspections

As an investor you know you have to stay up to date on your investments, especially a rental portfolio. This investment wasn’t a cheap one so don’t treat it as such. Always have an idea of what’s going on at the property and perform regular inspections. However, if the property is leased, avoid being intrusive of your tenant’s privacy. No one likes the crazy landlord who won’t leave them alone – avoid this stereotype at all costs. If you’ve elected to go it alone and self-manage your property, emailing your tenants every once in a while to check on things isn’t a bad idea, and can show them your dedicated to providing them with a quality living experience. Tenant’s talk and this can do you some real good down the road.

Maintenance

Things are going to break, there’s no way around it. As the owner of this rental home, if your tenant’s AC goes out in the middle of the hot summer then you’re up to the plate. You’re human, and sometimes you want to put things off, but be wary of doing so when it comes to your tenant’s maintenance issues. A happy tenant allows for a stress-free rental. No matter what you do, if they aren’t taken care of you are in for a bad time.


Vendor relationships are vital for the longevity of your property and wallet.

Vendor relationships are also a high priority. If you utilize a property manager, they’ll normally have established relationships with local vendors at a discounted rate that they pass on to you. However, if you’re thinking of self-managing it’s important to build these relationships early on. Having reliable vendors in your rolodex is a must. These companies or individuals will be your saving grace on those hot, AC-less days.

Make Everyone’s Life Easier

In a world dominated by tech, we now have software that helps us with practically anything! This most definitely applies to you and your rental property. From accounting to rent collection software, the tools to make your rental property even less stress exist. Again, if you’ve chosen to follow tip #1, your chosen property manager should have a complete suite of tools they offer. If you self-manage, these types of software systems are available to you on the open market.

Your tenants will be offered the time-saving abilities to pay rent and request maintenance online, and you’ll have systems that make the backend of your investment a breeze. You’ll be able to track expenses and reports with accounting software making tax time a breeze. However, once you stack a couple of these software costs on top of one another you’ll be close to approaching the monthly fee of your property manager as well as being left to do all of the actual work.

Owning an asset such as a rental property can be a greatly rewarding experience if done right. Consider these tips to make this venture as stress-free as possible! You can join large online communities such as Bigger Pockets, ActiveRain, or Let’s Talk PM and connect and interact with individuals across the nation within the real estate industry. Within no time you’ll be a real estate pro with connects across your industry and market. Still, we recommend hiring an excellent property manager, essentially rendering your properties as a source of passive income! If you have any questions about property management or getting started with a rental portfolio contact us! We’re really passionate about what we do and helping others out!


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Contact Us

Stone Oak Property Management
13497 N Highway 183, Ste. 700
Austin, TX 78750

Phone: 512.617.6766
Toll Free: 888.892.7940
Fax: 512.994.2300

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