The Tenant Leasing Guide August 2014 Congratulations! The decision to lease home is an exciting one. The experience should be enjoyable as well as get you the perfect home with the least amount of hassle. I am devoted to using my expertise to make your transaction successful! Leasing a home is a very important decision. I would like to help you with honest, accurate information so you can make well-informed decisions regarding the lease of your home. This booklet will give you an idea of what to expect during each phase of your transaction, including important information and reference pages. Please keep this booklet during all house hunting related activities: meetings, house hunting trips, etc. Use it to take notes and to help answer questions you may have. Making this transaction as easy as possible for you is my job. I am happy to serve ALL your real estate needs!
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The Tenant Leasing Guide August 2014
Congratulations! The decision to lease home is an
exciting one. The experience should be enjoyable as
well as get you the perfect home with the least
amount of hassle.
I am devoted to using my expertise to make your
transaction successful!
Leasing a home is a very important decision. I would
like to help you with honest, accurate information so
you can make well-informed decisions regarding the
lease of your home. This booklet will give you an idea
of what to expect during each phase of your
transaction, including important information and
reference pages.
Please keep this booklet during all house hunting
related activities: meetings, house hunting trips, etc.
Use it to take notes and to help answer questions you
may have. Making this transaction as easy as
possible for you is my job. I am happy to serve ALL
your real estate needs!
Pilkenton Real Estate, Inc. 6951 Virginia Parkway, Suite 100
P. O. Box 141
McKinney, TX 75071
(972) 542-2822
PILKENTON REAL ESTATE is characterized by a wealth of experience and backgrounds and
degrees to make this truly a well-rounded full service team. PILKENTON REAL ESTATE is the
largest Real Estate Property Management Firm in Central Collin County and is teamed
with KELLER WILLIAMS REALTY, WHICH has offices in McKinney, Frisco, Allen, Plano and North
Dallas. Teamwork is the concept we share.
PILKENTON REAL ESTATE was founded in 1985 by Ken Pilkenton and has become the leader
in leasing and property management in Central Collin County. PILKENTON REAL ESTATE has
managed as many as 225 properties for an array of 50+ owners.
PILKENTON REAL ESTATE has had great success enabling an owner to retain a property,
make mortgage payments and bridge the gap until the market value and the
mortgage balance allows the property to be sold without “out of pocket” expenses
from the owner. With our experience, we can advise an owner of many options
whether selling, leasing or investing.
KELLER WILLIAMS REALTY was founded in 1983 by Gary Keller and Joe Williams and has
been growing ever since. Within the Dallas/Fort Worth Metroplex, there are 25 market
centers with more than 3,900 sales associates, all of which network and cooperatively
work together. This enables optimum exposure in the marketplace for owners KELLER
WILLIAMS REALTY in McKinney is number one in volume and listed volume in the McKinney
market. There are more than 700 national and international KELLER WILLIAMS REALTY offices
with over 100,000 sales associates. KELLER WILLIAMS REALTY is the largest real estate firm in
America.
In Collin County Texas, Keller Williams Realty accounts for 1,400 of the 5,000 registered
agents.
Besides the high experience level of the agents, another contributing factor to the
success of the offices are the commitment of each individual working there. Every
person is dedicated not only to personal success but to the overall success of the
company. This is very evident in the spirit of cooperation that permeates the office.
KELLER WILLIAMS REALTY has profit sharing within each market center, which further
promotes the spirit of cooperation.
Why KELLER WILLIAMS REALTY and
PILKENTON REAL ESTATE?
Full-Time Professionals: KELLER WILLIAMS REALTY and PILKENTON REAL ESTATE is
made up of top full time agents and supporting staff that were carefully
selected to be a part of our firm.
Knowledgeable: In addition to normal real estate education
requirements for licensing, all of our associates have completed rigorous
and continuous real estate training to keep them up-to-date on current
real estate trends and information. Our training is the most
comprehensive in the industry.
Professional Standards: At KELLER WILLIAMS REALTY and PILKENTON REAL ESTATE,
we have a saying that goes “We don’t do that here” and we stand by it.
Our standards of performance for ourselves are for your benefits and they
are the highest in the industry. Our policy manual guarantees our
professional standards.
Pre-Qualified Prospects: KELLER WILLIAMS REALTY and PILKENTON REAL ESTATE
work to protect prospects and owners by obtaining prequalifying
information on all prospects. This service helps prospects know if they may
qualify for a home.
Inventory Knowledge: In order to be successful in working with prospects,
KELLER WILLIAMS REALTY and PILKENTON REAL ESTATE maintain a large inventory of
brokerage and new homes available. Our associates are always aware
of the available properties throughout the area.
Full Service: Our responsibility does not stop with the signing of the
contract. Our associates maintain a follow-up system with: the other
agents, lenders, inspection services, appraisers, title companies and
others. This assures you that all of the necessary paperwork and activities
related to the transaction are handled smoothly and with as few problems
as possible.
Marketing Center: Our offices are in the marketplace! From this strategic
location we can professionally serve customers and clients better than
any other real estate company.
7-Day Availability: Our marketing centers are open 7 days a week. There
is always a licensed agent available to work with customers.
Total Commitment: At KELLER WILLIAMS REALTY and PILKENTON REAL ESTATE, our
commitment to you is this: We will always strive to provide professional real
estate services to the very best of our ability.
Property Management: PILKENTON REAL ESTATE is open Monday – Friday 9:00
am to 5:00 pm. We are available other times by appointment. We are
available to our tenants 24/7 via EMERGENCY pager.
Ken Pilkenton
KELLER WILLIAMS REALTY PILKENTON REAL ESTATE 6951 Virginia Parkway, Suite 100 P. O. Box 141
McKinney, TX 75071 McKinney, TX 75070
(972) 562-8883 (972) 542-2822
OBJECTIVE: To market properties utilizing sound planning, professional ethics,
persuasive skills, and strong company support.
BUSINESS ACHIEVEMENTS: Texas Real Estate Salesman License 1966
Outstanding Young Men of America 1977
Who’s Who of Religion 1978
“Angel” Award (TV Program Producer) 1983
Associates of Arts Degree in Real Estate – Collin County Community
College 1990
Texas Real Estate Broker License 1990
Collin County Commissioner Appointed by Judge Barry 1994-Current
Board of Advisors – Real Estate Dept. Collin County Community College
1994-Current / Chairman 1998-1999
Board of Commissioners – Housing Authority of McKinney 1995-1997
Board of Commissioners – McKinney Housing Opportunities Corp. 1996-
Current
“Pinnacle” Office Award for Quality Service 1997
Certified Corporate Property Specialist 1997
Certified Residential Marketing Specialist 1997
Invitation to Who’s Who of Business 1997
“Top 10 Office in DFW Area” 3 times
Multi-Million Dollar Producer / Top Producer in Office Numerous Months
#9 Team Award 2000
$1 Million in 1 Month Several Months
BUSINESS EXPERIENCE: 1962-1967 General Motors Service Representative
1964-1984 Traveling Christian Music – Minister – Seminar Speaker
1985-Current Active in McKinney Area Real Estate
SKILLS: Expert in residential sale/lease marketing and promotion
Knowledgeable in all aspects of real estate sales including residential,
property management, leasing, investment and commercial
Where Do My Customers Come From?
Yard Signs
16%
Advertising
15%
Property
Management
20%
Internet
3%
Referrals
41%
Prospecting
5%
Relocation Client List
A few of the many area companies I have assisted…
E. D. S.
Ericsson
Perot Systems
Raytheon
Texas Instruments
City of McKinney
McKinney Housing Authority
Nortel Networks
Delta Airlines
Burnside Heating and Air
McKinney Aerospace
United American Insurance Company
City of Plano
J. C. Penny
Anna Independent School District
Exxon-Mobile
Farm Bureau Insurance
A. G. Edwards
North Central Medical Center
McKinney Independent School District
City of Irving
Why Do You Need A REALTOR®
A REALTOR® brings a wealth of knowledge and experience to the
business of leasing a home. In fact, a licensed real estate
professional provides much more than the service of helping you find
the home of your dreams. REALTORS® are not just sales agents. They
are expert negotiators, seasoned financial advisors, and superb
navigators around the local neighborhood. They are members of
the National Association of REALTORS® (NAR) and must abide by a
Code of Ethics and Standards of Practice enforced by the NAR. A
professional REALTOR® is your best resource when leasing a home.
Let Me Be Your Guide
Working with me can save you endless amounts of time, money
and frustration.
I know the housing market inside and out and can help you
avoid a “wild goose chase.”
I can help you with any house even if it is listed by another
company for lease.
I am an excellent source for general information about the
community, specific information about schools, churches,
shopping, transportation, and pricing.
I bring objectivity to the leasing transaction, and can point out
advantages and disadvantages of a particular property.
And the BEST thing is that all this help normally won’t cost you a cent.
Generally, the landlord pays the commission to REALTORS®.
However, that doesn’t affect my dedication or the spirit of teamwork
that I will put into helping you find and lease the home of your
dreams. After all, my success depends on your success.
Code of Ethics of the National Association of REALTORS®
The REALTORS’® Pledge of Performance and Service
The National Association of REALTORS® adopted a Code of Ethics in 1913 following
the professions of medicine, law and engineering.
REALTORS® are real estate professionals who have chosen to join the National
Association of REALTORS® and abide by its strict Code of Ethics. What does this
mean to you? It means that any REALTOR® you work with has voluntarily agreed
to abide by a Code of Ethics based on professionalism and protection of the
public. REALTORS® are subject to disciplinary action and sanctions if they violate
the duties imposed by the Code of Ethics.
The Code of Ethics is a detailed document spelling out the professional
responsibilities of every REALTOR®. The following summary is provided for your
convenience, but is not a substitute for the actual Code. Do not hesitate to ask
a REALTOR® for a copy of the Code, including the Standards of Practice. The
Code is your assurance of dealing with a professional having your best interests
in mind.
The Code of Ethics consists of seventeen Articles and related Standards of
Practice. The Code’s basic principles can be summarized as follows:
Duties to Clients and Customers Article 1 REALTORS® protect and promote their client’s interests while treating all
parties honestly.
Article 2 REALTORS® refrain from exaggeration, misrepresentation or concealment of
pertinent facts related to the property or transaction.
Article 3 REALTORS® cooperate with other real estate professionals to advance their
clients’ best interests.
Article 4 When buying or selling on their own account or for their families or firms,
REALTORS® make their true position or interest known.
Article 5 REALTORS® do not provide professional services where they have any
present or contemplated interest in the property without disclosing that
interest to all affected parties.
Article 6 REALTORS® disclose any fee or financial benefit they may receive from
recommending related real estate products or services.
Article 7 REALTORS® receive compensation from only one party, except where they
make full disclosure and receive informed consent from their clients.
Article 8 REALTORS® keep entrusted funds of clients and customers in a separate
escrow account.
Article 9 REALTORS® make sure that the contract details are spelled out in writing
and all that parties receive copies.
Duties to the Public Article 10 REALTORS® give equal professional services to all clients and customers irrespective
of race, color, religion, sex, handicap, familial status, or national origin.
Article 11 REALTORS® are knowledgeable and competent in the fields of practice in which
they engage or they get assistance from a knowledgeable professional, or
disclose any lack of expertise to their client.
Article 12 REALTORS® paint a true picture in their advertising and in other public
representations.
Article 13 REALTORS® do not engage in the unauthorized practice of law.
Article 14 REALTORS® willingly participate in ethics investigations and enforcement
actions.
Duties to REALTORS® Article 15 REALTORS® make only truthful, objective comments about other real estate
professionals.
Article 16 REALTORS® respect the exclusive, professional relationship that other
REALTORS® have with their clients.
Article 17 REALTORS® arbitrate financial disagreements with other REALTORS® and with
their clients.
Please remember that this is simply a general overview of the Code of Ethic’s
key principles. For additional information on the Code of Ethics and its
enforcement, speak with a REALTOR® or contact the local association of
REALTORS®.
Step by Step…
The Leasing Process
Find a REALTOR® you can trust…The First Step… Find an experienced REALTOR® that you can trust and sign a
Tenant Representation Agreement. This guarantees, by the
laws of the state, that your needs are met professionally and
represented throughout the entire process of leasing your
home.
Looking for a home…The Next Step… Look at various homes. I am available to help you find your
dream home.
Your Application…Be Accurate - This is an Important Step… When you find your dream home, you should present a
complete application along with appropriate application fees
and security deposit. These should be in certified funds.
The Lease, We’re Starting to Jog Now… When the landlord accepts your application, your will need to
sign the lease. You want to make sure every detail is handled
accurately and timely. I will do everything possible to help
ensure this happens.
Now it is almost yours! The Next Step Will Be Into Your New
Home…
Glossary of Real Estate
Brokerage Relationships
In Texas, real estate brokers and their salespersons are required to
disclose the type of working relationship they have with the customer
in a real estate transaction. There are several types of relationships
that are available to you. You should understand these at the time
a broker provides specific assistance to you in leasing real estate.
Tenant’s Agent, Landlord’s Agent and Intermediary relationships are
commonly referred to as “agency” relationships and carry with them
legal duties and responsibilities for the broker as well as for the tenant
and landlord.
Tenant’s Agent A Tenant’s Agent acts solely on behalf of the tenant
and owes duties to the tenant, which includes the
utmost good faith, loyalty, and fidelity. The agent will
act as an advocate for the tenant. The agent must
disclose to landlords all adverse material facts
concerning the tenant’s financial ability to perform the
terms of the transaction. A separate written tenant’s
agreement is required that sets forth the duties and
obligations of the parties.
Landlord’s Agent A Landlord’s Agent acts solely on behalf of the landlord
and owes duties to the landlord that include the utmost
good faith, loyalty, and fidelity. The agent will act as
an advocate for the landlord. The agent must disclose
to tenants all adverse material facts about the property
known by the broker. A separate written listing
agreement is required which sets forth the duties and
obligations of the parties.
Intermediary Relationship If a broker represents both the tenant as a tenant’s agent and
the landlord as a landlord’s agent in the same transaction,
then the broker is acting as an intermediary in that transaction.
The broker acting as an intermediary:
Shall treat all parties honestly.
May not disclose that the landlord will accept a
price less than the asking price unless authorized in
writing to do so by the landlord.
May not disclose that the tenant will pay a price
greater than the price submitted in a written offer
unless authorized in writing by the tenant.
May not disclose any confidential information or any
information that a party specifically instructs the
broker in writing not to disclose unless authorized in
writing to disclose the information or required to do
so by the Texas Real Estate License Act or a court
order or if the information relates to the condition of
the property.
With the parties’ consent, a broker acting as an intermediary
between the parties may appoint a person who is licensed
under the Texas Real Estate License Act and associated with
the broker to communicate with and carry out instructions of
one party and another person who is licensed under the Texas
Real Estate License Act and associated with the broker to
communicate with and carry out instructions of the other party.
The Advantages of a
Tenant Representation Agreement
Your interests are professionally represented Enlisting the services of a professional Tenant’s Agent is similar to using an
accountant to help you with your taxes, a doctor to help you with your
health care, or a mechanic to help you with your car. So the first
advantage is pretty obvious. If you had the time to devote to learning all
you need to know about accounting, medicine, and automotive
mechanics, you could do these services yourself. But who has the time?
You probably already have a full-time career to which you are
committed. This is why you allow other professionals to help you in specific
areas of expertise.
I have devoted my time to perfecting a career in real estate service.
Continuous education, market research and vast experience are
combined to help you find the perfect home quickly. I will take care of all
the hassles of every day real estate transactions for you. You concentrate
on your full-time job, while I do my job. I will guide you through the home
leasing process and exclusively represent your interests as I help you find a
home and sign a lease.
You will get a great home quickly and conveniently The advantage to signing a Tenant’s Agency Agreement with me is that
you will have a professional working hard to find and secure the perfect
home for you when you need it. It is difficult to find a home that meets
your needs and sign a lease without an experienced real estate
consultant. I have vast computer networks to make sure you only tour
homes that meet your specific needs. You won’t need to spend endless
evenings and weekends driving around looking for homes for lease or
trying to search computer networks yourself. When you tour homes with
me, you will already know that the homes meet your criteria for