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Austin Landmark Property Services

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September 2014

Address
11573 Jollyville Rd.
Austin, TX 78759

Mailing Address
PO Box 202344
Austin, TX 78720

Contact Us
Phone: 512.794.8171
Email: info@alpsmgmt.com
Website: www.alpsmgmt.com

Our Services

  • Real Estate Services to Buyers and Sellers
  • Out of State Property Management Company Referrals
  • Maintenance and Make Ready Services for our Owners and Referring Agents

Managing For YOUR Success

Rick Ebert, REALTOR®, MPM®
CEO

512.794.8171 X 217
alpsmgmt@alpsmgmt.com

Karen Ebert, REALTOR®, MPM®
COO
512.794.8171 X 215
karen@alpsmgmt.com

Mike Ebert, REALTOR®, RMP®
Director of Property Management

512.794.8171 X 211
mebert@alpsmgmt.com

Marc Witmer
REALTOR®, RMP®, MPM®
Property Manager

512.794.8171 X 222
marc@alpsmgmt.com

Pam Fite
Assistant Director of Operations
512.794.8171 X 214
pam@alpsmgmt.com

Mike Gonzales, REALTOR®
Property Manager
512.794.8171 X 218
mike@alpsmgmt.com

Yvonne Dougherty, CTA
Leasing and Management Coordinator
512.794.8171 X 220
yvonne@alpsmgmt.com

Rebecca Panacci, REALTOR®
Assistant Property Manager
Accounts Coordinator

512.794.8171 X 216
rebecca@alpsmgmt.com
click here

Jeff Ebert
Maintenance Coordinator
512.794.8171 X 224
jeff@alpsmgmt.com

Shelly Longoria, REALTOR®
Executive Assistant to Director of Property Management
512.794.8171 X 210
info@alpsmgmt.com
front_desk@alpsmgmt.com

Our Associations

ALPS Associations

Best Practices

Check Your Insurance: Events can happen - flood, extreme heat, earthquakes, fire, and more! It is important to check your insurance to obtain the best coverage possible and ensure that it is current.Review now with your insurance agent before a disaster/emergency occurs.

If An Emergency Occurs: Please be patient and avoid tying up critical phone lines and our time. Our first priority during any emergency is to handle the situation, taking any necessary measures for the safety of your property and your tenants. Then, we will contact you as soon as we are able.

Companies Finding Austin
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  • More and more companies are realizing they should start their businesses or expand them in Austin versus their own locales.
  • The software company Personify to expand operations from D.C. to Austin due to the friendly business atmosphere.
  • Softwave, a software firm supporting HomeAway, RentMeNot, Bazarrvoice and Dell, has chosen Austin over Florida for its expansion.
  • The city of Austin is to build on 107 acres west of the Airport to establish light manufacturing. The bottom line is 1250 jobs.

Important Questions
to Ask Your Insurance Agent

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There are important steps that investors must take to ensure the success of their rental property; one of the most critical is that of procuring the right property insurance.

As your property management company, we cannot advise you specifically on what insurance policy to purchase. The purpose of this article is simply to make you aware of common insurance facts and questions that are important to ask your insurance provider. Failing to know what coverage you have could lead to major financial loss in the future.

Does my property have the right insurance for an investment/rental property? This is THE key question to ask. Many people do not realize that a normal homeowner's insurance policy is generally invalid within 30 days after vacating the property and converting it to a rental property. A different policy should be put in place as soon as possible.

In addition, the best insurance for a rental policy will give you additional coverages, such as loss of rent. The type of insurance coverage for landlords generally falls under the umbrella term "property and casualty insurance."

What type or types of insurance do I currently have on my rental property? Building coverage, hazard and fire Insurance, as well as liability insurance, are always needed for the physical property. However, there are additional insurances that can be carried, depending on the location of the property, age of the property, and other extenuating factors. Other insurances to investigate are flood insurance if you are in a flood plain, sewer backup insurance, workman's compensation, terrorism insurance, and loss of income insurance. Question your agent on your current insurance and what other policies are available that would be appropriate for your investment and worth the cost.

A big key to obtaining the right insurance is to provide your agent with ALL the facts - age of the property, condition, area problems, special use, etc. It is very important to be specific on what "type" of investment property you have (for example, horse property, condominium, single-family, apartment etc.). Most landlord insurances are for 1-4 units and multiple units above this number are handled on a different basis.

I have outbuildings on my rental property, are they covered? Most policies generally do not include additional structures, unless specified. This is another reason why you need to disclose all the information to your insurance agent and obtain quotes.

Is my property covered for loss of rent? Covering rental loss, under the right circumstance (such as a building fire), is one of the pressing reasons for obtaining a good landlord/rental policy. There is no coverage for tenants giving a standard notice to quit and vacating the premises. However, it may cover vandalism during an eviction or vacancy - but you need to ask. Have your agent discuss in detail the paragraphs in your insurance paperwork which pertain to vacancies / income loss and what is your actual coverage.

Is my property covered for disasters such as fire, tornado, hurricane, tsunami, flood, and more? Normally, most natural disasters are not covered. However, the insurance company may make a determination that many damages are covered. For example, although a flood isn't covered, there may be coverage for "water damage." Another example, a house fire is usually covered for damage as long as the landlord has not shown neglect which caused the fire. The insurance company will have a list of criteria for what is and what is not covered for extreme conditions under the existing policy. Again, find out the facts, ask questions.

How can I reduce the cost of my landlord policy? Landlord insurance is more expensive than a homeowner policy and the main reason for the increased cost is that a landlord doesn't have any control over a tenant's actions, implying additional elements of risk. In spite of the higher cost, landlord insurance can be made more affordable through discounts for having security alarms, especially monitored ones, burglar alarms, deadbolt locks, and fire extinguishers. Ask your agent for recommendations on cost-saving items you can do. Remember, landlord insurance IS worth the cost.

It is of utmost importance and your responsibility to consult your insurance provider regarding your coverage. It is also part of your contract with us that you provide our company with proof of insurance.

There are many insurance companies and plans available and it pays to compare coverage. If your agent cannot spare you the time to answer your questions, seriously think about shopping for another agent and/or company. Review your policies at least once a year, require that your agent provide you with the facts, and take out the best possible policy for your specific investment property to protect your investment.

The material provided in this newsletter is for informational and educational purposes only. It is NOT legal advice.
Although we believe this material is accurate, we cannot guarantee that it is 100% without errors.

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