Owner FAQs

We are a detail-oriented company with over 40 years of experience in residential property management. With Award Property Management, we provide reliable, efficient property management services that you can trust.

We manage single family homes, townhouses, condos, and 2-4 Plex Multi Family homes.

Managing a property can be risky and time consuming. If you lack the time commitment and expertise that is required to take care of Tenants, a professional property management company such as Award would be best to satisfy your needs. Properties are a large investment and a professional property management company can take away the risk involved.

We actively market your property by posting it on the Multiple Listing Service (MLS) and advertise it on multiple websites such as Realtor.com, Zillow, Trulia, and many more. We take professional pictures of the property and show the property to potential renters.

We do a detailed market analysis on each and every property and prior to each renewal to maximize potential rent income.
Link: https://www.awardpm.com/fort-worth-property-management

Tenants are promptly notied when a lease violation occurs. If the issue is not resolved within the specied timeframe, we will take all legally appropriate actions to address the matter and ensure compliance with the lease agreement.

Homeowners receive their rent disbursements via direct deposit through our ACH program by the 10th of each month. There could be a delay if this date lands on a weekend or a holiday. If this should be the case then payment will be processed the following business day. At the same time, a detailed monthly statement is made available through the online portal, providing a complete accounting breakdown.

Absolutely. Homeowners can log in to their online portal to access detailed statements and updates about their property. We understand every homeowner's needs are unique, so you are always welcome to email or call us for any additional updates or specific information you need.

This is a fear of most owners. Our management agreement let you know exactly how much we keep in your account at all times. Maintenance and repairs that are less than $500 are paid out of your account and will reflect on your monthly statement. If a repair is going to exceed $500, we will contact you. If for any reason we are unable to contact you we will approve repair work even if it is higher than $500. The following issues would get approval from management if we cannot get an approval from an owner:

• An issue that affects the health or safety of a resident
• If the property will incur damage if immediate action is not taken
• No A/C when the temperature exceeds 90F
• No hot water
• No Heat when the temperature falls below 40F
• Leaking Roof

Our contractors have been informed to contact us for any repairs that are going to exceed $500.

Property inspections are conducted once a year during the final 60 days of the current lease term. A detailed report with photos is provided to the homeowner, which helps in determining whether to offer a lease renewal to the tenant. Additional property inspections can be arranged at the homeowner's request to ensure peace of mind and address any specific concerns.

We make sure to carefully select responsible tenants when processing applications. During the lease term, we may have occasions to enter the property for repairs or maintenance issues and will use this opportunity to examine the property. We will also schedule a renewal assessment of the property prior to renewing a lease contract. This will let us know exactly how they are maintaining your property as well as protect both you and your property.

Our monthly management fees are tailored to the package that best suits your needs. We offer flexible options designed to provide exceptional value and service. For more information, visit our pricing section or contact us directly for a personalized quote tailored to your property.

We carefully screen for responsible residents by processing a detailed application that includes a thorough review of credit reports, criminal history, employment verification, and rental history. Once we identify applicants who meet our criteria, their applications will be submitted to you for review, allowing you to make the final approval decision.

The standard lease term is 12 months. However, in some cases, an applicant may request, or we may recommend, a longer or shorter lease. In these instances, we will consult with you, and the final decision will be yours.

If a tenant does not pay rent by the 4th of the month, we send a late notice. If payment is still not made by the 10th, a 3-day notice to vacate is issued. Whether we proceed with a formal eviction depends on the circumstances. If the non-payment is due to a one-time financial hardship and the tenant has a good prior history, we may allow them time to catch up if it seems likely they can do so. However, if there is a pattern of late payments, broken promises, or evasiveness, filing for eviction is usually the best option.

Each case is handled uniquely, with decisions made in the best interest of the homeowner and the property. Regardless, we always issue the required legal notices for eviction, even if the filing is postponed due to the tenant making a genuine effort to resolve the issue. In Texas, evictions are straightforward legal matters if rent remains unpaid and notices are properly executed. When necessary, full evictions are typically completed in less than eight weeks.

We will contact our owners when a repair is going to be over your owner reserve of $500. We will also contact you if your resident has not paid rent and we have to take further action. Owner will also be notified when the residents lease is going to expire or if a 30-day notice is submitted. We want to make sure that the owner is aware of any turnover so they are aware of related expenses and be prepared for it.

We understand that every property owner has different preferences for involvement. You are welcome to be as involved or as hands-off as you’d like. We will always keep you informed of significant events and decisions related to your property, such as lease renewals, maintenance issues requiring major repairs, or tenant concerns. However, it’s important to trust our expertise in handling the day-to-day management and leasing details.
Our systems and procedures are designed to give you peace of mind by efficiently managing your property without requiring your constant input. While we value your interest and are here to address any concerns, we cannot accommodate a high level of involvement in minor decisions. By entrusting us with these details, you can enjoy the benefits of property ownership without the stress of daily oversight.

The tenant must submit a work order through their tenant portal. Once the work order is submitted our 24-hour maintenance service will contact the tenant to help determine the problem before sending out a contractor. We want to make sure that it is not something the resident can fix themselves (ex: tripped breaker, reset button on the disposal, etc.) before there is a charge for a service call. After determining that it is an issue that needs to be handled by a contractor then we will send out the appropriate contractor. We tell our tenants that in most cases basic repairs will be handled within 1-3 business days. We continue to follow up with the tenant and the contractor to ensure the repairs have been taken care of. If a tenant experiences an after-hours emergency, they are instructed to contact our designated emergency number to promptly report the issue.

We do not use the cheapest contractors! Our contractors are competitive in price, competency, and reliability. We save our owners money by using these contractors for the majority of multi-trade and make ready tasks. An additional benefit to using these contractors is the opportunity for checking out the general condition of the property.

We keep a $500 owner reserve per property in your account to insure there are always funds to pay the contractors.

Unfortunately, we only use our qualified and approved vendors. We are not able for liability reasons to use your friends or relatives to perform work on you home unless they are in fact licensed vendors.

We strongly advise against using Home Warranty Companies for repairs at rental properties. In our experience, these companies often provide slow and inefficient service, particularly during emergencies, which can be frustrating for both tenants and our maintenance team. Additionally, not all items are covered, and they frequently delay necessary replacements, leading to extended downtime and dissatisfaction. Home warranty companies often impose additional charges for uncovered items, and their costs tend to exceed what our trusted vendors would charge. Due to the extra time and effort required to coordinate maintenance through a home warranty, we apply a service fee for each claim processed through them. To ensure prompt, reliable, and costeffective service, we recommend relying on our established network of professional vendors.

We will be happy to invite them to join our vendor list if they are qualified and insured, but we cannot promise that a specific contractor will be dispatched to your home for certain repairs. If a company you prefer wants to be added to our contractors list, they can contact us and we will let them know what documentation and references we will need. However, we cannot guarantee that your favorite company will be sent on all service calls to your property but we will do our best to contact them first and give them priority to accept the work order. Our concern is always to resolve repairs problems in the timeliest way possible with the available contractor at the time.
Our professional reputation, with both tenants and owners, is largely, if not entirely, determined by how well we handle maintenance. Therefore, we follow a practice that is most likely to insure the best possible response and resolution to problems.

Our fees are very competitive and unfortunately not negotiable. We do understand that you can find a cheaper property management company but price should not be the only factor in determining who you hire to manage your property. Choosing a property management company should be determined by other things than the fees we charge such as the efficiency and manner in which we handle your property. We believe that our experience, expertise, systems and service offer a great value at the fee structure we have established.

Yes, our property management agreement as well as the residential lease agreement are promulgated forms provided by the Texas Association of Realtors®.

Any deposit that is paid by a tenant will be held in a trust account and will not be released until the tenant gives up possession of the property. If you have collected a tenant’s security deposit, you send it to us at the time we take over management of the property.

We usually collect a security deposit that amount to one month’s rent.

We ask that you avoid direct communication with the tenant and refer them to our office. It is best for management to handle any request they have.

Not a problem. We recommend that owners give management at least a week notice of when they will be wanting to tour the property so we can make arrangements with the tenants.

We can start immediately. Please contact us so we can get some more information about you and your property and to see if we would be a good match for your wants and expectations. Feel free to contact us if you have any other questions or if you would like to discuss managing your property in more detail.

Yes, we pride ourselves on managing properties but we are here to handle all your real estate needs.