Dear Property Owner, We appreciate your recent inquiry concerning your property management needs with Sulthar Properties. We are a customer service focused company specializing in property management for single-family homes, condominiums, townhomes, duplexes and fourplexes. OUR MISSION STATEMENT Sulthar, Service and Satisfaction - Sulthar Properties provides property management and real estate brokerage services to property owners and investors at an affordable cost. We believe and practice great customer service at every level of the organization so that our property owners and tenants are very satisfied. Our commitment to our property owners, investors and tenants is to increase the value of the properties we manage. The 3-S logo represents what we believe and practice. We provide an exceptional residential property management experience. When you use our services: We explain every aspect of our property management services Determine a fair market rent for your property Offer a detailed inspection of your property for the purpose of it being in Rent Ready condition. No Hidden Fees We utilize a teamwork approach with our owners in managing your properties. We know that business is about relationships we will want to get to know you and learn your preferences and goals for your property. If there is anything that can be improved we want to know and trust that you will communicate with us freely along the way. We have prepared a booklet that outlines the benefits and services you as our client can expect from Sulthar Properties LLC. By knowing about our internal processes, you will come to better understand how we operate and discover all the matters we handle for you behind the scenes. Thank you for your interest in Sulthar Properties LLC, we look forward to serving as your property management specialists and living up to our 3-S logo, SULTHAR, SERVICE & SATISFACTION. Please contact us at 972-SULTHAR, 817-GO-SULTHAR or 512-GO-SULTHAR. We look forward to hearing from you. Sincerely, Mohamed Yakub Sulthar President/Broker Sulthar Properties LLC 972-SULTHAR Ext. 101
THE SULTHAR PROPERTIES MANAGEMENT DIFFERENCE Our people make the difference with experience and knowledge of the industry Management in a proactive, not reactive, style 24-Hour Emergency Maintenance Service No more after hours/weekend calls for you! New tenant orientations Superior Tenant Screening = minimized chance for risk and property damage Clear and concise monthly accounting statements Highly qualified property management specialist Flexible communication methods Our services are a tax deductible expense to offset your rental income Our People Make the Difference - We know that the key to our success is in the relationships that we have developed with our clients over the years. It is our intention to get to know your goals, motivation, and style and to allow you to be involved as much or as little as you desire in management decisions. As time passes, we get to know our owners on a personal basis too. To us, property management is much more than just managing property. Management in a Proactive Style In general, most of us do not like to spend money until we have to, but the key to retaining the value of a residential asset is keeping the property in top condition. As properties age, repairs can be expected the key is controlling the timing of them. We can help you plan a preventative maintenance program suited to your individual property and assist you in working out a budget to meet those plans so that you can be prepared when replacements are needed at the very worst times. When you plan to spend money on your home, you are in control! 24-Hour Emergency Maintenance Service After hours, weekends and holidays, you can rest assured that we are still on the clock to handle maintenance emergencies that arise. When tenants move in, they are given instructions as to what constitutes a true emergency and how to reach us if needed. New tenant orientations Communication is the key to letting people know how you operate and what you expect of them. When our tenants come in to pick up keys and pay their first month s rent, they undergo a 30 minute orientation that covers rent collections, property condition and maintenance, and their responsibilities as a tenant in the care of their rental home. It s a valuable Q&A time that helps minimize future problems.
Superior Tenant Screening In selecting the right residents for your property, we believe that doing our homework in the beginning reduces risk and potential property damage thereby minimizing your headaches later. We require each adult (18yrs and older) that will live on the property to complete a thorough Texas Association of Realtors (TAR) application. We then evaluate rental and employment history, verify current income and analyze credit history following written guidelines to assure equal and fair treatment of each applicant this is also a protection against a Fair Housing violation! Because of our superior tenant screening process, most rent jumping tenants (the ones who don t pay rent, damage property and move out in the middle of the night) prefer to apply directly to property owners who don t have the resources that we do and won t find out until it s too late. We hope this hasn t happened to you! Clear and concise monthly accounting statements We use the top property management software in the industry PROMOS plus a custom in-house developed software program. Our property owners receive a detailed monthly statement showing all financial activity occurring on or before the 10 th of each month. Our easy-to-read statements make tax preparation easier too. Highly Qualified Property Management Specialists In order to provide the best available services to our clients and to maintain our unsurpassed reputation within the profession, Sulthar Properties LLC set out to hire highly qualified property management specialists within the industry. Not only do manage other owners/investors properties but we also have a vested interest by owning and managing properties that we own. We also believe that education is an integral part of our success. Through our membership with the National Association of Property Managers, National Association of Realtors and the National Apartment Association; we are committed to ongoing education for our managers in the current trends of our profession and changes in the laws that affect the properties we manage. Flexible communication methods With the majority of our clients living out of the state and/or country, we use a variety of means to stay in touch; we love email when it comes to communication with owners residing in time zones opposite ours. Our services are a tax deductible expense to offset your rental income The choice is simple: you can do the work yourself (collecting rent, dispatching maintenance, handling the accounting, researching the housing laws), for which your time is NOT deductible; or you can leave it all to us, enjoy more free time, and deduct the cost of our services from your taxes. At Sulthar Properties LLC, we provide Sulthar, Service & Satisfaction! Why wait? Call us now, at 972-SULTHAR, 817-GO-SULTHAR or 512-GO-SULTHAR, to get started immediately!
SULTHAR PROPERTY MANAGEMENT SERVICES Sulthar Properties offers the following property management services: Leasing Tenant Application and Screening Rent Collections Maintenance, Repairs and Make Readies Eviction Services Financial Statements Property Inspections Brokerage Services LEASING Upon execution of the property management agreement, Sulthar Properties performs the following steps to lease out your rental home: Inspect and recommend any repairs to make the property ready for leasing and bring the home up to the Texas Property Code (TPC) Handle necessary make ready repairs on your behalf Place an attractive yard sign showing the home for lease Place a lock box at an accessible location for easy Realtor access Take digital photos of the interior and exterior of the property for marketing purposes Provide a Comparative Market Analysis (CMA) of the neighborhood and recommend a rental amount for your home List your home in the Multiple Listing Service (MLS) for lease List your home with the Centralized Showing Service (CSS) to organize showings of the property. You will receive showing feedback and Realtor comments via email Create a custom flyer for online marketing purposes The home will be added to the www.sultharproperties.com website as a featured listing Synchronize your rental home through Point2 Listing Synchronization gateway. Your home will be listed on a variety of websites TENANT APPLICATION AND SCREENING Prospective Tenants may contact Sulthar Properties through www.sultharproperties.com, Craigslist, yard signs and from numerous other sources such as www.realtor.com, www.hotpads.com and Referral sources. Tenant prospects are tracked in Sulthar Property Desk which is an in-house custom developed contact management software program. All prospective tenants are prequalified to make sure tenant needs match the rental homes prior to showings. Our dedicated professional leasing agents schedule appointments
to show houses to tenant prospects. Sulthar Properties uses the Texas Association of Realtors (TAR) 4- page lease application. All applications must be completed in full. Sulthar Properties requires application fees in certified funds prior to processing the rental application. We also perform the following 5-point tenant screening process: 1. Credit check -check FICO score 2. Criminal check 3. Eviction record check 4. Rental verification 5. Income verification Upon rental application approval, the prospective tenant must sign the lease and provide one full month's rent or more as security deposit to lease the property. Sulthar Properties uses the Texas Association of Realtor (TAR) lease and all addenda. Sulthar Properties uses electronic signatures by www.docusign.com to sign documents online. RENT COLLECTIONS Rent is due on the first of the month and considered late by the 4th. Currently Sulthar Properties only accepts rent payments in certified funds, electronic bank drafts and online bill pays from banks. If rent payments are not received in timely manner, Sulthar Properties will contact the tenants for collection. Sulthar Properties will notify owners of rent payment status and send appropriate notices to tenants. Most of our tenants pay the rent on-time due to the excellent tenant screening process Sulthar Properties follows. Sulthar Properties deposits rents on a daily basis through our automated check deposit system. Rent is disbursed to owners or investors on or before the 10th of every month. Owners have two options to receive rent payments: direct deposit (ACH) to your bank account or a paper check. MAINTENANCE, REPAIRS AND MAKE READIES As part of our property management services, Sulthar Properties handles maintenance, repairs, and make readies of your rental properties. After you sign the property management agreement, if the property is vacant we will walk through the property, suggest any necessary repairs to make the property ready for leasing and bring it up to the Texas Property Code. Upon leasing Sulthar Properties handles any maintenance and repairs. Each owner is required to maintain a repair reserve of $250 per property. Sulthar Properties requires property owner's written approval for any repairs exceeding $250. Sulthar Properties uses independent contractors to perform all necessary repairs. Once a tenant moves out Sulthar Properties will walk through the property and handle the property make ready for you prior to a new tenant move-in. Sulthar Properties handles utility services on your behalf.
EVICTION SERVICES We offer Eviction Services for property owners. This is a fee based service and below is a list of what s included: Collect documentation which includes unpaid rent owed to the owner Serve Legal notice to tenant and all occupants, typically called a 3 Day Notice to Vacate by Regular Mail, Certified Mail and/or in Person. We guarantee all legal paperwork to the tenant and to the court is 100% accurate. File legal paperwork and pay filing fee with Justice of Peace Court Attend Court on your behalf and seek judgment of eviction & possession Writ of Possession filing - see explanation below. For more detailed information concerning Eviction Services, please see our website at www.sultharproperties.com FINANCIAL STATEMENTS Sulthar Properties provides you the following statements: Monthly income and expense statement with copies of repair invoices Yearly tax statement Yearly income and expense statement Sulthar Properties deposits rents on a daily basis through our automated check deposit system. Rent is disbursed to owners or investors by the 10th of every month. Owners have two options to receive rent payments: direct deposit (ACH) to your bank account or a paper check. PROPERTY INSPECTIONS As part of property management services, Sulthar Properties inspects your rental properties periodically. After you sign the property management agreement, Sulthar Properties will perform the first inspection. If the property is vacant, Sulthar Properties will also prepare a list of necessary repairs before marketing the property available for lease. After a tenant turns in a move out notice, Sulthar Properties will inspect the property and list the property for lease. After tenant vacates, Sulthar Properties will perform a move-out inspection and prepare a list of any necessary repairs. Charges will be deducted from the security deposit for any tenant caused damages beyond normal wear and tear. Sulthar Properties will send an itemized statement of security deposit to the tenant as per Texas Property Code, the property owner and one will be kept on file.
BROKERAGE SERVICES In addition to property management and eviction services, Sulthar Properties also offers the following real estate brokerage services: Represent new home buyers as buyer's agents Represent sellers of investment properties and owner occupied properties as listing agents Assist investors and property owners in acquiring investment properties Provide turn-key solutions for investors beginning from acquisition of rental properties to full service property management FEES 1. Property Management Package Initial setup fee - $0 Vacant property management fee - $0 Management fee - 8% of rent collected subject to $80 minimum per month Leasing fee - 70% of one full month's rent Lease renewal fee - 10% of one full month's rent Eviction fee $200 plus any associated costs such as court filing fee Direct deposit fee - $2 (optional, paper check is free) Maintenance Reserve - $250 2. Leasing Package One Full Months Rent without Property Management Package 3. Evictions Services Package Eviction Service Fee is $350 plus all court cost without the Property Management Package The parameters of our relationship are defined in the written agreement between you and Sulthar Properties LLC, companies acquired by Sulthar Properties LLC, and/or agreements established by assignment to us. All terms, conditions and provisions outlined in this handbook are subject to change or withdrawal without prior notice we periodically review our procedures in order to fine tune and improve them.
FREQUENTLY ASKED QUESTIONS (FAQ) Do I lose control of my property once you start to manage it? No. We work for you and our written management agreement sets the parameters not defined by law. Do you insure my property when you manage it? No. You maintain your own insurance agent. However, we will gladly negotiate for you and provide competitive quotes as you direct us to. If a tenant doesn't pay the rent, do I have to go to court? No. We take all the legal steps to enforce payment. We will attend all arbitration or court sessions on your behalf as allowed by law. Will you help me find a qualified tenant without me signing a full management contract? Yes. We can provide just a leasing service for your property but understand that after the property is leased, you will be responsible for maintaining the property including but not limited to deposit escrow, maintenance, make readies, evictions & any other obligations under the tenant rental agreement. Can Sulthar Properties LLC manage my property and save me money? Yes. In most cases we have found that our fees are more than offset by our ability to obtain higher rents, less delinquency, and faster turnaround of vacating units. We also maintain a pool of qualified repair people who offer us the best price available due to the large volume of business we can offer them. What happens to the tenant's security deposit? Do you keep it? Yes. In compliance with Texas Law the tenant's security deposit is kept in an escrow account. The move-out inspection and digital pictures document the condition of your property and any damages beyond normal wear and are deducted from the security deposit along with any other money owed by the tenant. The balance is returned to the tenant within 30 days as required by Texas Property Code. The new legislation is confusing. Do you keep up with the changing rules and regulations? Yes. Sulthar Properties LLC is a member of the National Association of Residential Property Managers (NARPM), the National Association of Realtors and National Apartment Association. These organizations are constantly monitoring industry changes and legislation. Do you advertise vacancies? Yes. We will place a sign on the property and list the vacancy on the Sulthar Properties website at www.sultharproperties.com so prospective tenants can view and receive all the details of the property. The property listing is also available on a variety of websites including Hotpads.com & Craigslist.com. We also receive referrals from current and past tenants and from other agents with whom we network.
Do you handle problems late at night? Yes. Our 24 Hour Emergency Maintenance Hotline will take all calls and will page us in case of an emergency. We will talk with the tenant to determine how best to proceed. Do I know what is going on with my property? Yes. We will communicate with you throughout our contract. We will inform you when a qualified tenant is found; we will contact you at reasonable times to discuss repairs; we will notify you of the tenants vacate request. Plus, throughout the contract, we will keep you aware of any issues that may arise. Do you manage only residential property? Yes. We specialize in the management of residential properties. Our portfolio contains single family, duplex and small multi-family properties. Do you screen all applicants that want to rent my property? Yes. Our application is designed to generate complete information from each prospective tenant. We process all applications in house and verify all information on each application. In general, an applicant must have good rental history (not from friends or relatives), have 3 times the rent rate in stable and verifiable household income, and possess an acceptable credit history. Can I still use my favorite plumber or HVAC Company? Yes. We will gladly contact the company you specify as long as they are actually licensed, insured and in the business of performing the required work Do you mail my monthly statement and check as soon as the tenant pays the rent? No. Sulthar Properties deposits rents on a daily basis through our automated check deposit system. Rent is disbursed to owners or investors by the 10th of every month. Owners have two options to receive rent payments: direct deposit (ACH) to your bank account or a paper check. Do you pay the bills for me? Yes. We will gladly pay your utility bills or have them serviced through Sulthar Properties LLC account. There must of course be sufficient cash flow from the property to cover such expenses and we may require you to set up a reserve fund for this purpose. Are your management fees competitive? Yes. Our Full Service Management fees are 8% of the gross collected rent each month with a minimum of $80 per property. A leasing fee of 70% of one month s rent allows us to offer compensation to other licensed real estate agents through our extensive network. Does your management agreement give you exclusive right to sell my property? No. We can help you sell your property if you would like us to, but it is not a requirement of our management contract. Do you charge for Certified Mail? Yes.
Are there administrative fees or other service charges? No. We don't charge for copies, long distance calls, mileage or other incidentals and we don't mark up maintenance or repair costs. Do you charge the tenant a security deposit? Yes. Our policy is that the security deposit is equal to one month s rent or more based on our tenant screening criteria. What about a pet deposit? Yes. Pets are not allowed without your permission and an additional pet deposit of $200 is required plus an additional $200 non-refundable pet fee. We may charge a higher pet deposit at the owner s request. We do not allow aggressive breed animals or any animals mixed with aggressive breeds. Are you licensed? Yes. Sulthar Properties LLC is a licensed broker by the Texas Real Estate Commission. We are also members of the National Apartment Association, National Association of Realtors and the National Association of Residential Property Managers and an accredited member of the Better Business Bureau. Can you start managing my properties today? Yes. We can start the process immediately. Contact us at 972-SULTHAR, 817-GO- SULTHAR or 512-GO-SULTHAR so we can get the necessary information.
TESTIMONIALS A few months ago, I took a promotion at work and had to relocate to San Diego. I contacted Sulthar Properties about leasing my house, but decided to sell it and go with a "big name" real estate company. Months passed and I continued to hear from Stephanie (she never gave up on me). I am so glad she didn t because after my house was not getting hardly any showings, I finally contacted her and told her about my situation. She and Tracy immediately got to work. They came over to look at the house, provided me with contacts and services I may need and had the paperwork ready in no time. They immediately began marketing my house and kept me up to date on status. They were so responsive to my calls and emails. In 11 days, my home was rented! I couldn t believe it! If I knew the service I was going to get with Sulthar, I would have gone with them versus listing my house with a bigger company in the first place. Thank you so much for all your help, Stephanie and Tracy! JoAnn D, Property Owner Hi Mohamed, Thank you for all of your help. I really want thank Tracy also, between the two of you; I've been really happy with your property management. As you know, I have a number of other properties and when you are an out of state investor having a good, reliable, trustworthy property manager is KEY! I had spoken with a few property managers before I chose Sulthar and I am so grateful that I did. Danielle E, Property Owner Sulthar Properties have good clean homes, excellent customer service, and will go above and beyond your expectations in order to make sure you are more than satisfied. I have already told about 15 different people about Sulthar Properties. When my friends and family come over their comments about my home is "WOWWW... This is really nice". Thank you Sulthar Properties!! Jessica J, Tenant Hello Tracy, I want to thank you for your efforts in getting this lease completed. You were diligent, professional & made this transaction go very smoothly. I look forward to working with you in the future & will refer my Realtor friends to you. Michael T, Real Estate Agent We just wanted to say a big thank you for everything you have done for us. We love the house. JoAnn C, Tenant