Justiss & Justiss Dallas Property Management: Eagle Scout Owner, Expert and Affordable

Frequently Asked Questions...

"WHERE DID WE LEARN A SYSTEM THIS WORRY-FREE?
THE SCHOOL OF HARD KNOCKS."

We take Realtor courses and updates to stay current and ensure compliance with the latest legislation and codes. But our best teacher has been experience. Twenty-plus years of it. The stock lease forms most property managers use from a tear-off pad, for instance, lack at least ten key items covered in our copyrighted lease; items that could--and have—cost owners dearly if omitted.

OTHER FAQ's:

LEASING AND MANAGEMENT:

1.   What if the tenant doesnt pay rent?
2.   What if a tenant has a solid excuse for not paying rent?
3.   What if a tenant doesn’t pay rent, claiming the house needs maintenance?
4.   OK, how long does the eviction clock tick?
5.   How much deposit do you collect?
6.   Do Metroplex renters pay first month’s rent, last month’s rent, and a security deposit up front?
7.   What kinds of things could I get in trouble for if I manage a property myself?
8.   Who performs maintenance for your company?
9.   How do they charge for their work?
10. If a tenant moves out and forfeits his security deposit, how much does the manager keep?
11. How do you decide whether to let the tenant have pets, smoke, use his own appliances, etc?

SALES:

1. How can I find out what my house is worth?
2. My neighbor’s asking far more than you say anything has sold for in my neighborhood. Should I be excited?
3. The market’s strong—couldn’t I just sell my house myself?
4. How will I know my closing costs?
5. As a buyer, how can I find out how much home I can afford?
6. What is the Capitol of Vermont?

LEASING AND MANAGEMENT:

Q: What if the tenant doesn’t pay rent?

A: We automatically notify him that the clock has started ticking toward eviction. If he beats the clock by paying all overdue rent, penalties, and fees, he may stay, provided he doesn’t repeat. Otherwise, he’ll be forced to move and will forfeit his security deposit.

Q: What if a tenant has a solid excuse for not paying rent?

A: We’re sympathetic, but the eviction clock starts ticking.

Q: What if a tenant doesn’t pay rent, claiming the house needs maintenance?

A: We take action on the maintenance, and the eviction clock starts ticking.

Q: OK, how long does the eviction clock tick?

A: Once filed with the Justice Court, about 15-20

days.

Q: How much deposit do you collect?

A: Normally the equivalent of a month’s rent.

Q: Do Metroplex renters pay first month’s rent, last month’s rent, and a security deposit up front?

A: No, here the custom is to collect first month’s rent and security deposit prior to move-in.

Q: What kinds of things could I get in trouble for if I manage a property myself?

A: For starters, you’d better know the latest security device laws. You may be civilly or criminally liabile if you turn down an applicant and don’t advise them of certain rights. And that’s just for starters.

Q: Who performs maintenance for your company?

A: A wide base of independent contractors, from handymen to locksmiths. We purposely staff no full-time maintenance people because we’ve found they soon take the job for granted and inflate their charges. We spread the work around to a few good people who appreciate the work.

Q: How do they charge for their work?

A: It varies by the complexity and time spent. On big jobs, we get a written quotation in advance, approved by the owner. Many maintenance professionals charge us low, wholesale rates because we send them so much work. Our clients get 100% of this benefit. We only get a good reputation, but that’s enough.

Q: If a tenant moves out and forfeits his security deposit, how much does the manager keep?

A: None. The owner gets it all.

Q: How do you decide whether to let the tenant have pets, smoke, use his own appliances, etc?

A: This is all covered up front in our first meeting with every client. We know exactly what to ask and make a written record of the answers. They also get entered in our computer so we can refer to them wherever we are, even at the property itself.

SALES:

Q: How can I find out what my house is worth?

A: It’s worth what current market conditions will support and what a buyer will pay. Our best guide is what comparable homes in your immediate vicinity have sold for recently. We thoroughly research this data and present and interpret it for you, giving you all the guidance you need to make your decisions. If you’re considering a sale and will consider granting us the honor of listing your property, we’ll work up a market analysis for free.

Q: My neighbor’s asking far more than you say anything has sold for in my neighborhood. Should I be excited?

A: You should be wary. Anyone can ask anything they choose. Asking a price too far beyond what homes have recently sold for in the area is usually counter-productive: it can cause the optimist to finally sell his home for less than he would have, had it been priced competitively from the start. The best guide is what properties have SOLD for, and with us, it will be a matter of record that we’ll share with you.

Q: The market’s strong—couldn’t I just sell my house myself?

A: Of course. And you can also change out the transmission in your car yourself, re-roof a building yourself, and troubleshoot a radio transmitter yourself. But would you want to if you lacked real skill and education in these areas? These days, State Law requires sellers to meet numerous legal requirements. You’d be taking a chance if you weren’t up to speed on these. And then there’s the full-time job promoting the property, fielding calls live and in person, and showing it at the drop of a hat. If you can’t do that, you’ll lose potential buyers.

Q: How will I know my closing costs?

A: With every listing we take, and again with every contract we produce, we provide our owners with a statement of "Seller’s Estimated Closing Costs and Net Proceeds." No matter what type of financing’s involved, you’ll see an educated guess as to the amount you can take to the bank based on the sale price or the contract’s terms.

Q: As a buyer, how can I find out how much home I can afford?

A: We’ll meet and ask you the five customary questions a mortgage company would. Our analysis of your answers should give you a good idea of your buying power. Then we’ll suggest several lenders you can consult for a more detailed screening or pre-approval.

Q: What is the Capitol of Vermont?

A: Montpelier. My gosh! Is there nothing we can’t answer!?

For more information about Justiss & Justiss, Realtors
please e-mail us or call (214) 946-3333.

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Justiss & Justiss, Inc. and Ken Justiss are licensed real estate brokers.

Photography: Ken Justiss