Lexi and her husband [Matt] came to me by referral. I have been working with them for about a year now. We bought a new house and put the previous home up for lease. We were actually working with someone else at the time. While our previous realtors were great for the property purchase, we wanted to compare them against someone else for the longer term commitment of property management. That is when I got the referral to TRE.
We had used still another company for property management in the past. We were able to keep the property but we lost money on it. That experience taught us to ask a lot of questions before choosing a property management company.
We interviewed Lexi at length and were impressed with her and her husband’s experience and philosophy. We asked the same questions of the group we had been working with and ultimately decided to go with Lexi.
The differences in fees were these. The folks we were looking at were offering a high up front cost, something like 80% of the first month’s rent, but then a low flat rate fee. Basically $99/month. At the time, Lexi was offering a 50% fee of the first month then 8-10% of the rent thereafter. It worked out that Lexi’s fees would be slightly higher, but here’s the kicker. With a flat rate fee organization, those folks had no incentive to reap the best market value for the rent. With Lexi’s percentage based fee structure she has every incentive to get the best rental rate the property will bear. The side benefit to this is that the higher paying tenants will also likely be more invested in keeping the property in good shape. These were all outstanding benefits that helped sway our decision.
Regarding service, Lexi and Matt have a strong regard for the tenants that they place. This makes them more accessible to the tenants as well as to us. They have been tremendously responsive and have a plan for when they are not available. This was something neither of the other two groups had a good answer for.
Their statements are timely and available by web portal. Payments have been timely and issues have been resolved quickly and efficiently. They are everything we could have wanted in a property management company.
We have been very pleased with Lexi, Matt, and TRE. They are good people. They have a plan for growth and we plan to grow with them. We are planning to add a couple of more properties with them this year. I’d be happy to talk more about them if you have specific questions. Oh, and yes, they got top dollar on our property and we are cash flowing.
Joe & Cassandra Brecht
Rental owners of property in Wells Branch- looking to gain additional rentals in the near future