About Asset Management Specialist, Incorporated
Richard Skiles and the team at Asset Management Specialist, Inc. has provided central and south Texas comprehensive real estate management services since 1973. Our current portfolio of properties managed includes single family homes, condominium homes and associations, duplex and multifamily buildings, professional office suites, office warehouse and light industrial properties.
The staff at Asset Management Specialist, Inc. offers friendly, personalized service. The highest standard of excellence and professionalism is achieved through continuous education in every aspect of the real estate industry including law, marketing, management, accounting, business development, risk management, advertising, promotion and public relations. Our fully staffed office remains open to the public Monday through Saturday providing full management services to both clients and customers. Emergency services are provided on a twenty-four hour basis by experienced and reliable in-house personnel or contract vendors.
The fundamental principal behind the relationship our firm maintains with our clients is understanding their goals and objectives for each investment and delivering the maximum sustainable return from each investment while limiting risk and promoting asset appreciation. The application of this principle translates into a management program emphasizing attention to detail and property specific planning.
Both property owners and tenants benefit from our management philosophy and attention to detail. With over 100,000 tenant transactions completed without litigation, Asset Management Specialist, Inc. demonstrates its unwavering commitment to honest, audible and compliant business principals.
If you are seeking clear and dependable communication, reliable reporting, effective marketing, aggressive collections, useful budget development, informed property tax valuation counseling, experienced maintenance and retrofit management, profitable purchasing capability, and practical risk management experience you may wish to consider Asset Management Specialist, Incorporated. As the largest, oldest and most experienced property management firm in San Marcos, we have in place and operational all of the services necessary to maintain, manage and market your property.
What are the basics of Residential Property Management?
There are 5 basic functions of a residental property manager.
- Locating and qualifying a resident
- Unit preparation and ongoing property maintenance
- Rental collection and ongoing resident relations
- Accounting and records management
- Legal and risk management
Asset Management Specialist, Inc. (AMS Inc.) begins our relationship with our clients by inspecting the property. We combine our market experience with the client’s goals to develop a plan for the asset. Marketing begins. Prospective resident screening includes rental history review, credit history, employment history and income verification.
Units are prepared for occupancy and appropriate lease documents executed. Security deposits and move in rents are collected from the incoming resident. Units are inspected to document move in condition and new residents take possession. As maintenance issues arise during the term of the lease, AMS Inc. is contacted and appropriate service providers are dispatched to resolve the problem.
The property is inspected on a regular basis during the term of a lease to evaluate compliance with lease requirements and for safety reasons. If any violations of the lease agreement result in the need to terminate the lease or initiate legal action, AMS Inc. facilitates the process.
Ultimately, there is a change in occupancy. At the end of each lease the property is inspected to document condition. Appropriate charges are assessed against outgoing occupants. The legal parameters associated with closing a lease contract, documentation and notification of security deposits is completed and the process begins again.
Obviously, management of real property is much more involved than stated above. The cost of property management is frequently computed as a percentage of the monthly receipts.
What is Leasing?
Some firms offer residential leasing services. Typically this service includes advertising a property availability, showing the property, qualifying the prospect and completion of appropriate documents for the owner. The agent generally moves the new resident in and immediately turns the new resident and all related paperwork over to the owner. The owner manages the property thereafter. Leasing services range in cost and are generally billed at the time the lease is signed.