When Your Property Leases
Tenant Requirements
The law requires us to post our Tenant Selection Criteria. RPM has posted the guidelines in our office, on our website and with each application. To review RPM’s requirements, please click on the link above.
Security and Pet Deposits
RPM requires a security deposit equivalent to one month’s rent. With a security deposit posted, RPM will hold a property off the market for up to 30-days. Usually once a deposit is received and the tenant is approved, the tenant will lose their deposit if they back out of leasing the property. In the State of Texas security deposits must be kept separately from rent and are not to be considered as income on your property.
Unless otherwise specified, RPM accepts pets with the exception of German Shepherds, Rottweilers, Dobermans, Chows, and Pitt Bulls. A pet deposit starts at $300 and can be adjusted depending on the number, type and size of the pets. Any destruction caused by the pet(s) will result in loss of deposit. This includes flea infestation, urine damage to carpet, landscaping damage, etc.
HOA Violations
The standard lease agreement signed by RPM’s tenants’ mandates compliance with HOA rules and regulations. We specifically instruct them on lawn maintenance, satellite dishes, basketball goals and trashcans. Should you receive an HOA violation notice, please forward it to RPM as soon as possible. For the same type of violation (such as lawn needs edging), RPM will send a letter to the tenant notifying them of the violation. If a second violation is received, RPM sends out a warning letter notifying the tenant that any additional infraction of this nature will result in RPM resolving the problem at their expense. RPM does pass along fines to tenants when they have failed to take action on previous violations. It is important that all violations are sent to us in a timely manner or we may not be able to recover the fines from the tenant.
Lease Agreement and Renewal Process
RPM uses the standard Texas Association of Realtors (TAR) lease. After a lease is signed for your property, a copy of that lease will be transmitted to you with two weeks. RPM keeps the original lease on file in the office. RPM requires a lease to be at least 12-months in duration for the first year but will allow month-to-month status thereafter at a higher rental rate.
Lease renewals are sent out 45-60 days prior to the expiration of the lease. If you do not want to renew your tenant’s lease, please be sure to contact RPM in advance of this time period. We must give your tenant at least a 30-day notice that their lease will not be renewed. Tenants are given the option of renewing their lease for 12-months or month-to-month. RPM evaluates the rental market and sets the renewal rate according to the prevailing market in that particular subdivision. If your tenant decides to move, you will be notified in writing of the move out date. If the tenant renews their lease, your owner’s statement will reflect a lease renewal charge for your tenant. No other notification will be provided.
