Owner Frequently Asked Questions
About Tyson Property Management
Tyson Property Management was founded by Bob Huneycutt in 1997. We have been in business now over 20 years. In 2010, we earned the GAAR Excellence in Property Management award and in 2019 we earned the Best of 2019 Albuquerque Property Management award. We are members of the National Association of Residential Property Managers, the Greater Albuquerque Area Realtos Association, National Realtors Association and Better Business Bureau. Some of our clients have been with us since our start in 1997 and our average client has been with us for over 5 years.
Presently we have five full time licensed Brokers, four Coordinators, one Bookkeeper and two Property Inspectors. Our staff is organized in a departmentalized structure which include our Accounts Department, Leasing Department, Maintenance Department, Inspection Department and Bookkeeping Department. To learn more about our staff, visit our About page.
Tyson Property Management is located within the Albuquerque Metro area. We are easily accessible and within 20 minutes to most locations within Albuquerque and Rio Rancho. Our office is 5 minutes from Paseo del Norte Blvd and 10 minutes from Alameda Blvd NE (highway 528).
Our address is 4421 Irving Blvd NW, Suite A, Albuquerque, NM 87114. Our company can be found on the south end of the building. Parking is available in front of the building.
For our hours and driving directions, please visit our Contact page.
No, we do not have our own maintenance or "handyman" staff. Many companies that have their own inhouse maintenance often do wo without the use of licensed contractors and/or they add significant mark ups to their invoices.
We hire outside, qualified, licensed contractors, subcontractors, and licensed specialists to conduct all repairs on our properties. These Vendors are required to have workman compensation insurance and liability insurance in place before they can work in our rental homes. Many of these Vendors have worked with us for over ten years. They value our business and provide us with timely service and very competitive rates.
There is no mark-up on the billing amount from these Vendors and Property Owners take full advantage of any discounts offered by the Vendors. Tyson PM bills the owner exactly what the contractor bills us.
Each time any work is completed on your home, the Vendor invoice is posted to your online account. You can log on 24/7 to your online owner account and see copies of any invoice charged against your escrow account. At the end of the year you can log on and retrieve a compilation of the calendar year's income and expenses, which you can use to prepare your Schedule E for the Internal Revenue Service.
We are very responsive. Our company motto is “Communication is Key” and we get back to phone calls, emails and texts as soon as possible. The best way to reach us is via Department emails. Our Accounts Department email is firstname.lastname@example.org, our Leasing Department email is email@example.com and our Maintenance Department email is firstname.lastname@example.org. These emails are monitored by all Department members which ensures a quick response.
First, let's talk about what we do not charge: We do not charge a vacancy fee, placement fee, renewal fee, lease-up fees, accounting fees, or maintenance service charge. Placement fees charged by other companies can be as high as 50 - 100% of the first month's rent and then if the lease renews, they charge you another 50% of the rent for renewal fees. In this case, if you keep your rental home for five years, and you place five applicants, those other companies will charge you five placement fees, which can add up quickly. When you're comparing rates, be sure to add in all additional fees as some companies charge lower monthly commissions but make up the difference in additional fees.
Some management companies also have 'hidden' fees within their contract and will charge you special fees to post three day notices, seven day notices, or take your tenants to court for non-payment of rent or possible eviction. Another practice is to charge a vacancy fee. This is a fee applied against your home while it is empty and being marketed. It is occasionally a percentage of the anticipated rent or a flat amount. Some firms charge an extra fee each month to provide you with a month end / year end accounting. (This process is a simple by-product of our software and is provided at no charge.) Other companies which have their own maintenance staff will often charge their own house rates to cover materials and labor.
Tyson PM has no hidden or surprise fees. Any and all charges are listed on our Pricing page. It is important to note, at Tyson PM, we only get paid if you get paid!
Our services include managing your home and interacting with your tenant. We answer all inquiries about repairs and schedule all maintenance. We pay bills and manage all accounting needs. We have highly trained, licensed professional property managers who have numerous years of experience in property management. For full details on our fees, visit our Pricing page where we have various packages available for you which you can choose from to best suite your particular needs. Our most popular package is our Full Service Package and for this skillful management, we charge a flat 11% of the collected rent plus New Mexico Gross Receipts Tax, which is currently 0.79%.
It is important to distinguish this. We only get paid if you get paid. Some firms charge a percentage of the anticipated rents or other vacancy fees.
Each month before we mail or direct deposit your rent check, we will deduct from your account any repairs and our management fee. Your own monthly, personalized statement will reflect all expenses deducted from your trust account each month.
No, when a repair is made to the home you own, you will receive a separate bill for it.
We feel that extensive advertising is critical and will ultimately help in renting your property. Tyson PM advertises primarily online as that is where over 90% of prospective Tenants begin their rental search. Our internet advertising is the most extensive in the city. We typically always show up on page one of a Google search. In addition, to advertising on our own personal website, we also advertise with several fee based Internet search engines that specialize in rental properties.
We also utilize the services of a professional photographer to take the best quality pictures of your property as pictures are the #1 thing prospective tenants look at when considering a property. We also have floorplans drawn up of the property to help Tenants understand the property layout without having to visit as many Tenants make a decision to rent before they even visit the property.
To be able to provide these Premium Advertising services, our advertising fees are $125 for the first month of advertising and then $50 per month until the home is rented. Our homes rent in an average of less than 30 days, so most Owners will only pay the first month's advertising fee.
In order to minimize expenses to Property Owners, we help take on the cost of evictions and legal fees for non-paying Tenants. We are able to do so through our Eviction Protection Program. For only $4/month, less than the cost of one cup of coffe, you will be enrolled in this program and in the event we need to file in court or pursue an eviction, Tyson PM will cover all legal fees up to $500.00 that result from said court filing or eviction. This includes court costs, process server costs, lawyer fees (if needed), sheriff fees, etc.
Yes, when you hire us you have given us the job of scheduling maintenance and taking care of your property. We require a $400 escrow deposit into your trust account. This $400 balance will stay in your account and will always be available for repairs or small incidentals as they arise. If this amount becomes depleted, it will be replenished from your rent income and documented on your monthly owner's statement.
When your tenant vacates the property, we will raise your escrow by an additional $400.00 from the last month's rent payment in order to cover any needed repairs to turnover the home and get it ready to put back on the rental market. Once the home re-rents, your escrow will be returned back to $400.00 and any excess balance will be sent back to you with the first rent disbursement.
Yes, there is a trip charge of $75.00 if an employee has to meet an appraiser. Usually your tenant will be willing to meet with an appraiser and you can avoid this charge.
Tyson PM is open five days a week to deal with any emergencies that may arise with a property. We do not have an emergency line available 24/7. However, true emergencies are rare. If there is a flood, Tenants are told to call the water utility emergency numbers to turn off the water. We will deal with all other needed repairs immediately upon our actual receipt of the repair request. We do monitor repair requests submitted by Tenants over the weekend and holidays.
Please read our compensation termination paragraphs in our Management Agreement for full details about terminating your contract. In all cases, we require a 30-day Written Notice to terminate your contract with Tyson PM.
Please note, if you cancel with us after we have started marketing your property but prior to us obtaining a tenant, there is a termination fee of $250.00 that will apply. If you terminate the contract while a tenant with an existing lease is in the home, a termination fee of ½ of our remaining commissions is due.
Tyson Property Management requires a 30-day Written Notice to cancel the management contract. We will provide you a full accounting of your funds within 60 days of the end date of your management contract.
Yes, every year. These will be provided electronically through your online portal as well as mailed to you. If you have any changes to your contact information or property ownership during the year, please make sure to send these updates to us at email@example.com before December 31st.
Tyson PM sends out checks for owners between the 10th and 20th of each month, after rent (which is due on the first of the month) has been paid and processed. Disbursements are sent out on the Monday, Wednesday or Friday seven days after the tenant has paid rent in order to allow proper time for funds to clear the bank.
If rent is not paid on or before the third, a late fee is assessed and then processed. If your Tenant's rent is late, we will send you an email notification letting you know. By the 12th of each month, we will post a statement to your online portal so you can see your Tenant's rent payment, any expenses and your disbursement. Your full monthly statement will be uploaded to your online portal on the 1st day of the following month, along with invoices for any costs incurred. We recommend paying your mortgage one month in advance so a delay in your tenant's rent due to a holiday, weekend or non-payment will not cause you to be late on your mortgage payment.
Advertising Vacancy Policies
When a property is in good condition it attracts the best quality tenants, can rent for a higher amount, and will typically rent more quickly than if it is in fair or poor condition.
In general the home should meet the following requirements before posting a rental listing:
- The house should be clean, walls should be painted (we recommend neutral colors), carpet should be commercially cleaned.
- Blinds are required on all clear windows throughout the house.
- All appliances and features should be in good repair, and we recommend that, if at all possible, refrigerator, washer, and dryer should be provided.
The lawn should be kept trim and neat if there is grass, and should be watered.
Upon taking up management responsibilities for your home, we will conduct a walk-through and inspect the condition of the property so that we can suggest anything that might be done to improve the condition of the property and make it more appealing to potential tenants.
If tenants don't see your property, they won't know that it is available - so we make sure that they do!
Over 90% of prospective Tenants begin their search online. We are also very active and aggressive in our internet marketing as shown by this website. Tyson PM networks with several different web sources and that helps keep us at the top of the search engines. We also utilize the services of a professional photographer to ensure that your rental property makes the best first impression.
We advertise through our own website and on many national websites such as freerentalsite.com, ahrn.com (a respected military website), Realtor.com and the MLS (Multiple Listing Service). In addition, these websites may feed out to multiple other “sister” websites, too, including Zillow and Trulia.
Naturally, we also market to local government, corporations, and relocation departments. View our current rental inventory on our Rental Search page.
You can specify whether or not the tenant is allowed to have a pet but you may not discriminate against any protected class under the Federal Fair Housing Act or local housing laws, such as limiting family size (beyond the fire safety limits imposed) or not allowing single tenants. Because of this, it is best if the selection process is left to Tyson PM. We have guidelines and run background, credit, and criminal checks to ensure a responsible tenant is placed in your property. Regardless of conviction date, no applicant with a felony conviction for an act of violence, sex crime, or illegal manufacturing or distribution of drugs will be accepted.
Yes, there is a criminal as well as a background check conducted during the application process on all adult applicants. Tyson PM's extensive criminal background check searches the databases of 50 states and some governmental agencies. Other local management companies limit their criminal search to New Mexico only, but we feel it is necessary to search nationwide.
Due to Fair Housing restrictions, we do not involve our Owners in our screening process. Tyson PM makes the sole decision based on the Tenant’s qualification under our guidelines.
We use a point system to determine if a tenant is qualified to rent a home. Our process includes thorough credit screening, background checks, criminal history checks, income verification and rental history verification. Regardless of conviction date, no applicant with a felony conviction for an act of violence, sex crime, or illegal manufacturing or distribution of drugs will be accepted.
Due to Fair Housing restrictions, we do not involve our Owners in our screening process. Tyson PM makes the sole decision based on the Tenant’s qualification under our guidelines. We use a point system to determine if a tenant is qualified to rent a home. Our process includes thorough credit screening, background checks, criminal history checks, income verification and rental history verification. Regardless of conviction date, no applicant with a felony conviction for an act of violence, sex crime, or illegal manufacturing or distribution of drugs will be accepted.
We show properties using self-showing lockboxes. This maximizes the available timeframes in which properties can be viewed by prospective Tenants and helps us rent properties much quicker. Prospects must schedule an appointment and provide identification prior to receiving a one-time use only code that can only be used during their schedule showing time. We can track when the home was accessed and by whom and our system automatically sends out showing feedback forms upon the completion of the showing.
No, as the owner of your property it is your decision whether to allow pets or not. Some Property Owners will unequivocally not allow a pet; others will approve only small dogs, while others will accept a dog of any size. Some allow cats while others do not. Some will allow only one pet and others will allow multiple pets. We will discuss your pet restrictions and comfort level prior to listing your home on the market.
If you decide to allow pets, Tyson PM charges the tenant a $250 non-refundable pet fee per animal living in the home and an additional $25 per month pet fee per pet. These fees are maintained by Tyson PM due to the increased liability for managing properties with pets. We conduct additional screening and inspections on all pet properties to help avoid problem issues. Our Inspectors and Vendors also face increased risk in entering properties in which pets are present. The cost of these services and increased risk are passed onto the Tenant so we can keep costs down for Property Owners. Tenants assume all risk of damage and liability for their pets and will be charged for any and all pet damage upon their move-out. We also have a Pet Protection Program in place for Property Owners which is described in detail in our Management Agreement.
If you decide not to allow pets within your home we would like you to be aware that you will be eliminating almost 62 percent of the rental market and it could be substantially more difficult to rent your home.
Yes. We encourage all Tenants to pay online through their Tenant Portal.
As per our policy, rent is late on the third day (3rd) of the month. If the rent is not received by end of business on the third day of the month, our firm will send the Tenant a three (3) day notice to pay. If a tenant fails to pay rent within the allotted amount of time set by law, a court order will be sent to them and the eviction process will begin.
Tyson PM's management style is very proactive. We identify late paying tenants early and take aggressive legal action so that our owners do not lose money. Tyson PM's policy is to only allow a tenant to be filed upon in the courts two times. Upon the first court filing, the tenant has to pay all monies owed in full, including any outstanding utilities.
In subsequent months, if a tenant is late and has to be filed upon a third time, Tyson PM will seek a judgment/eviction and will seek to terminate the lease, even if the tenant offers to satisfy the unpaid rent.
Our policy regarding spraying for insects is that the Property Owner will provide one intial spray at the beginning of each Tenancy, thereafter it’s the tenant obligation unless there is an infestation or point of access that needs to be addressed.
Tenants must put all gas, electricity, water, and trash into their names before keys will be given at lease signing.
If your home is located in the City of Albuquerque, the water company will not put the water bill in your tenant’s name. The water bill is always sent to the physical home address. If your home is located in Albuquerque, please make sure the water bill is being mailed directly to the property address, Attention Current Resident. We will sign up to receive an electronic copy of the water bill to monitor the payments. In the event that the Tenant is not paying the bill and the amount due exceeds $200, we will take further action to collect the past due amount.
If the rental home is located in Rio Rancho, the tenant will be charged $235 for one year's refuse at lease signing. At lease renewal time another $235 will be charged. Visit our Owner Forms page for more detailed information on the utility procedures.
You do not want your personal mail to be delivered to your rental home. The potential for losing important papers and the cost to avoid high postage is a big incentive to get your mail routed to your personal home address.
One of the first things you need to do is notify the United States Postal Service of your change of address. You do not want your builder’s mail or your closing papers going to the tenant’s address.
To do this simply go to USPS.com, click on the second row of banners that go across the page left to right. Select the blue banner labeled “Receiving Mail” with a subtitle of “change of address” and then just follow the prompts.