Owner FAQs

Question 1

Do you require residents to have renter’s insurance?

Answer

We offer all applicants residential benefit package which covers up to $300k.

Question 2

Do you report tenant payments to credit bureaus?

Answer

Yes, we report the tenant’s payments to all three credit bureaus monthly.

Question 3

Am I required to make my property available to Section 8?

Answer

No, in the state of Texas, landlords have the right to choose.

Question 4

Are you licensed?

Answer

Our team is fully licensed with both a broker's and real estate license. We go beyond the minimum requirements by requiring all licensees to earn advanced certifications in leasing, property management, and investment sales advising - ensuring our clients receive the highest level of expertise and service.

Question 5

Can I reach you after hours?

Answer

Yes, several team members monitor the tenant calls and act on emergencies.

Question 6

Can you put the money directly into my account?

Answer

Yes, all landlords are paid within 72 hours after the tenant check has cleared via EFT (electronic fund transfer).

Question 7

Do I get to see the lease or sign it?

Answer

Leases are signed by NewGen Properties and uploaded into the Owner Portal.

Question 8

Do you sell real estate too?

Answer

Yes, we have a variety of licensed realtors. Ask us about our current discount and promotions.

Question 9

How and when do I get my checks?

Answer

You will receive them electronically, within 72 hours of the tenant's good funds.

Question 10

How is rent collection handled?

Answer

Tenants pay through a tenant portal on our website.

Question 11

How long of a lease do you sign?

Answer

Anywhere from 12-24 months.

Question 12

How much security deposit do you charge the tenant?

Answer

Security deposits are typically equal to one month's rent; however, the final amount may vary based on creditworthiness.

Question 13

How soon can you start managing my property?

Answer

Within 1 hour after the paperwork has been completed.

Question 14

What type of properties do you manage?

Answer

Single-family properties
Condos
Townhomes
Duplex’s
Quads
Small Multifamily

Question 15

What type of reports do I get and how often?

Answer

Profit and Loss (P&L) reports as well as rental owner statements are available to landlords 24-7 through the owner portal “reports” page.

Question 16

Who holds the tenant security deposit?

Answer

NewGen Properties holds funds in a trust account for the tenants.