Owner Frequently Asked Questions
What type of properties do you manage?We manage Single-Family Homes, Duplexes, Condominiums, Townhouses, Commercial, Multi-Family, Apartment Communities, Homeowners Associations and Foreclosures.
Are you licensed?Yes, we are a licensed Brokerage Firm and members of the Corpus Christi, Texas and National Apartment Associations, Corpus Christi, Texas and National Association of Realtors,Community Association Institute, American Hotel and Lodging Association, Chamber of Commerce and Visitor's Bureau.
What are your experience and credentials?Broker/Owner Gary Graham, a long time Island resident, has been licensed in Real Estate since 1980. He served as a Board member of the Corpus Christi and Texas Apartment Association for 11 years and was President for the Corpus Christi Association for two terms. He has taught many classes for both the Apartment Association and the Corpus Christi Association of Realtors including swimming pool compliance, fair housing, guest relations, property facility management and the Texas Property Code. Gary Graham and his company have enjoyed providing professional Real Estate Services to the Coastal Bend for over 25 years.
Where do you advertise?Since many Residents find their homes by driving through the neighborhoods where they desire to live, the placement of signs with our company name and telephone number is one of our best means of attracting potential Residents. We also strategically place your property in online listings with syndication to all major search engines and networks, web searches such as: AHRN (military housing database), VRBO, Poslets, Trulia, Zillow, Rent.com, Hotpads, etc, walk-in business and referrals from satisfied Clients.
What is your Qualifying Criteria for Applicants?Each Applicant must demonstrate a history of being a good, responsible Tenant, verify their income is at least 3 times the monthly rent, have no sex offense or felony convictions and have a FICO score of 600 or higher. Please see our Resident Forms page to review our detailed Qualifying Criteria.
What are your standard Lease Terms?A lease term is typically one (1) year. A shorter or longer lease term may be negotiated to accommodate the sale of the property by the Owner, a Resident's housing need or to set the lease expiration date to a season more favorable for rentals.
What happens if the Resident does not pay their rent?On the 4th of the month the Resident is contacted by phone and/or email. Then on or about the 5th, a Notice to Vacate is posted at the dwelling. If no payment or arrangement has been made by the 10th, a formal eviction will be filed in the appropriate JP Court.
How involved may an Owner be in managing their property?We believe that an Owner hires a Property Manager to manage their property, not to assist them with managing it themselves. It is our job to make the experience of being an investment property owner easy. We will handle the day-to-day operations and notify Owners regarding any issues that may significantly impact their monthly proceeds. Examples of such issues may include: authorization for a repair exceeding $200, a Resident failing to pay rent or submitting a Notice to Vacate, a Lease Contract coming up for Renewal, etc.
What is the process for maintenance service requests?Services requests may be initiated by an Owner, Property Manager, or Resident. Residents have the added benefit of submitting work orders online via their Tenant portal. TRMC has a 24/7 live answering service which will contact TRMC personnel for maintenance emergencies. An Owner will receive email notification of the requested service. Depending on the nature of the issue, TRMC will either dispatch our on-site maintenance technician or one of our preferred vendors. Should a single repair exceed our $200 maintenance threshold, we must contact an Owner for approval. The only exception to this policy would be if the repair if of an emergency type nature and/or we are unable to reach an Owner for approval.
What if an Owner prefers to schedule their own repair services and/or use their own contractor?If a Property Owner prefers to use and directly pay their own contractor/vendor, they may do so as long as repairs are made timely and in accordance with the Texas Property Code. Our concern is to always resolve repairs without any delay using the most qualified vendors available.
What if an Owner has a Home Warranty?Because of the extreme delayed response times of Home Warranty programs, TRMC will use another vendor in the event of an emergency or during peak seasons.
When and how does an Owner receive Owner Statements and monthly proceeds?Owners statements and disbursements are sent out between the 10th and 15th of each month. Owner Statements are sent via mail or email and include all income and expenses for the accounting period. For secure, convenient and faster distribution of proceeds, TRMC offers direct deposit (ACH) to check/savings accounts.
What is the Management Fee?Our management fee is are based upon the type of rental i.e. long term lease, daily, weekly or monthly rentals.
Who retains the Resident's security deposit?TRMC retains the deposits for managed properties. Deposits are held in an escrow account.