14655 Northwest Freeway
Houston, Texas 77040
What Do Our Clients
Think About Us
Ryan S.: Mike is a reputable owner and he uses the most cutting edge strategies to get his properties rented quickly and at the highest possible rental amounts. He leverages online marketing strategies to the fullest...
Susan S.: This company has taken care of my investment property for over 15 years. I live 3 states away from my investment, yet never have a worry. Ignore those other offers for property management. You won't find a better management company.
Linda K.: I had a great experience with Terra Residential managing my rental while out of the country. I had a pretty bad experience with a management company previously, so was cautious, but they got it ready and rented quickly and smoothly handled the move out.
MPM®, RMP®, GRI®
(713) 895-9966 x305
(713) 895-9966 x304
(713) 895-9966 x308
(713) 895-9966 x306
Maintaining Your Investment
There are many ways to reduce problems and liability for your investment. Here are twelve that we know will support and maintain your investment.
1 - Support Fair Housing
This is crucial to successful property management. This covers such a vast area such as advertising, showings, tenant selection, equal opportunity practices for the handicapped, and much more. We always work to avoid Fair Housing complaints but if they occur, we move to settle them swiftly and efficiently. We will also do our best to keep you updated on any new legislation that may happen.
2 - Select good tenancy
We continually strive to improve screening practices. Choosing the right tenant is more cost effective than quickly renting to someone who will become a problem tenant, even if it means a longer vacancy.
3 - Provide reliable documentation
Another key area to reduce risk and tenant problems is using good rental documents. This encompasses rental agreements, addendums, property notices, communications, etc. Setting up the right agreements in the beginning can help prevent future disputes
4 - Maintain the physical property
We continually work to use competent vendors to maintain your property. We probably sound like a broken record on this subject but preventative maintenance is a big key to reducing many maintenance issues. Whether small or large, it always pays to address a problem as soon as possible and resolve them before they escalate.
5 - Tackle mold issues
Ignoring mold issues has produced some of the largest settlements against investors in the United States. We may discover that it is not toxic mold but it is better to clean up any mold before it can become a legal battle.
6 - Take tenant safety seriously
Addressing anything that could endanger tenant safety is an absolute necessity. The courts have zero tolerance for a property owner who ignores maintenance that endangers a resident. This can include unsafe electrical, flooring, plumbing, door locks, walkways, lighting, landscape, and more.
7 - Respect your tenant's privacy
Even the most basic Landlord/Tenant law provides for a tenant's right to privacy. Therefore, we contact tenants in advance and serve the proper notices when necessary if we want to enter their residence. You may own the property but it is the tenant's home and most states have specific laws to address the "right to enter."
8 - Encourage tenant retention
For obvious reasons, it can increase the return on investment (ROI) to keep a good tenant. There are many ways to encourage tenant retention and it pays to show residents that we appreciate them.
9 - Address security deposit issues
Tenants do move and when they do, the security deposit can become a battleground. Although we try to avoid this, a dispute can arise. We settle any deposit issue as quickly as possible.
10 - Provide accurate bookkeeping records
It is important to provide you with an accurate accounting of funds for your property at all times. When you have questions on our bookkeeping, we strive to provide answers to your questions.
11 - Update on new or pending legislation
We cannot provide the best service if we do not keep up with legislation or rulings that affect management of your property. There are many ways to do this throughout the year, such as reading publications, attending seminars, workshops, and conferences.
12 - Continue to keep our clients informed
Keeping you informed on what is happening with your investment is always important. We use various means to do this such as email, telephone calls, letters, bookkeeping reports, website, etc. This newsletter is a vehicle for sharing our property management knowledge and we hope you find this information useful.
We will continue daily with these twelve good practices. Thank you once again for the opportunity to protect your investment.
Check Your Insurance: Events can happen - flood, extreme heat, hurricanes, fire, and more! It is important to check your insurance to obtain the best coverage possible and ensure that it is current. Review now with your insurance agent before a disaster/emergency occurs.
If An Emergency Occurs: Our first priority during any emergency is to handle the situation, taking any necessary measures for the safety of your property and your tenants. Then, we will contact you as soon as we are able.