Our mission is to provide stress-free property management solutions that balance the needs of owners and tenants with integrity, efficiency, and exceptional service.
Novo is experienced, skilled, and businesslike in the management of properties.
The owner/broker of Novo has been licensed as a real estate agent turned broker for more than 18 years. He has been licensed as an attorney for 28 years. For nearly two decades prior to starting Novo, he managed as many as 60 of his own rental properties.
To expertly manage rentals, we
1. Aggressively market properties through MLS listings, website postings, networking, and yard/street signs if needed.
2. Thoroughly screen tenants with background checks, rental history verification, credit checks, employment verification, and personal interviews.
3. Diligently collect rent and any applicabl
To expertly manage rentals, we
1. Aggressively market properties through MLS listings, website postings, networking, and yard/street signs if needed.
2. Thoroughly screen tenants with background checks, rental history verification, credit checks, employment verification, and personal interviews.
3. Diligently collect rent and any applicable fees.
4. Quickly address maintenance issues.
5. Regularly inspect properties, not just to make sure tenants are taking good care of the property, but also to perform preventative maintenance, ensure regulatory compliance, and inform landlords of their properties’ condition.
6. Minimize vacancies by encouraging lease renewals and actively marketing properties prior to vacancies.
One key to excellent property management is building and maintaining strong relationships with landlords, tenants, and vendors.
As property manager, we want and need to know each landlord’s expectations, goals, and priorities because we strive to meet and exceed those expectations and goals; and landlords’ your priorities are our priori
One key to excellent property management is building and maintaining strong relationships with landlords, tenants, and vendors.
As property manager, we want and need to know each landlord’s expectations, goals, and priorities because we strive to meet and exceed those expectations and goals; and landlords’ your priorities are our priorities.
We also care deeply about our tenants. We get to know them. We build relationships with them.
We also strive to meet and exceed their expectations because happy tenants take better care of properties, are more likely to pay rent on time, are more likely to renew leases and reduce turnover, and are more likely to refer friends and relatives.
As an example, we have managed seven different rental properties with seven different members of the same family because each family member keeps referring relatives to us.
Our clients are landlords and tenants, and we commit to serving both.
Landlords and tenants are people not numbers, corporate entities, or addresses.
Regardless of any corporate structure, landlords and tenants are individuals and families. We know them by name. We share our phone numbers with them and invite them to call or text us wit
Our clients are landlords and tenants, and we commit to serving both.
Landlords and tenants are people not numbers, corporate entities, or addresses.
Regardless of any corporate structure, landlords and tenants are individuals and families. We know them by name. We share our phone numbers with them and invite them to call or text us with issues.
We recognize tenants who work hard and pride themselves in caring for their house and paying rent on time. We also understand that life gets in the way of those goals at times. We try our best to work with those tenants hit with financial hardship.
Although we commit to serving both landlords and tenants, we act as the agent of our landlords, and it is to our landlords that we owe fiduciary duties.
To that end, we try to align our financial interests with those of our landlords. We benefit when our landlords benefit.
We set up our pricing structure so that we don’t benefit financially from evictions, turnovers, or maintenance/repairs
Ultimately, our goal and our commitment is for both tenants and landlords to be thrilled with us as their property manager.
We know we can’t please everyone 100% of the time but that is our goal.
There is NO tiered pricing or tiered level of service. With Novo, every landlord gets Platinum-Level Service for a basic-level price. We charge only 10% of the rent actually collected ($200 minimum).
Here’s what landlords get for that 10%:
Listing on MLS
Social Media Blitz
Networking
Online Marketing – our website plus others
Yard Sign and Street Signs
Criminal Background
Credit Report
Rental History Verification
Employment Verification
Funds Verification
Personal Interview
We make it easy for tenants to pay by accepting numerous forms of payment.
Payment options include:
-- Online payments
-- EFT payments (cost of only $0.60)
-- CC Payments (3% fee)
-- Venmo/CashApp/Apple Pay
-- Checks/Money Orders
-- Cash
If we have to evict a tenant that we recruited, vetted, and approved, then we pay for the eviction, including:
1. Filing Fees;
2. Service of Process Fees;
3. Attorney's Fees (yes, we send an attorney);
4. Writ of Possession Fees; and
5. Fees to remove tenants and their belongings, if necessary.
Novo never charges Landlords extra fees to coordinate needed repairs to their properties. Processing and scheduling repairs is included in the 10% fee.
An important responsibility of a property manager is the preservation of the property.
Accordingly, Novo inspects every property at least once every six months. Novo sends to landlords a detailed report of its findings, a list of recommended repair/preventative maintenance items, and several photos of the property.
Landlords deserve to see how well the tenants are caring from their property. Novo makes that easy.
-Wally Owens
Novo charges 75% of the first month’s rent to recruit the first tenant. Novo, however, does not charge a fee to find any subsequent tenant other than the standard 10% of the subsequent tenant's first month’s rent just like any other rent.
Of course, if the subsequent tenant is represented by a real estate broker, then Novo will collect from the property owner the tenant's broker's commission and pass that commission on to the tenant's broker.
Landlords don’t benefit from tenant turnovers; neither should their property manager. It should be in the best financial interests of both property owners and property managers to keep the same, high quality tenants in the property for as long as possible.
We are so confident that Landlords will be thrilled with us as their property manager that we permit them to cancel their property management agreement anytime-no questions asked-with only 30 days’ notice.
At Novo, we earn your trust and business each and every day.
Novo is completely transparent with all financial aspects of the property management process.
Landlords have their own online account and can see every penny that comes in and goes out. Novo has a separate trust account for tenant security deposits and a separate landlord trust account into which all rents are deposited.
Owner draws, repair expenses, property association dues (if any), Novo fees, and any other deductions come from this landlord trust account. And each landlord can see each such deduction.
Wally was born and raised in Oklahoma. He earned his Bachelor of Arts degree from the University of Oklahoma in 1993. He graduated from the University of Texas School of Law in 1996. After practicing several years with some of the oldest and most prestigious law firms in Oklahoma and Texas, he chose to transition to real estate.
In 2006, he purchased a HomeVestors of America, Inc. franchise. From 2006 to the present, Wally’s HVA company has bought, rehabbed, held, and/or sold over 400 houses. He loves investing in single family residences. He has managed his own notes and rental properties for more than 15 years. He has been licensed as a real estate agent since 2006 and a real estate broker since 2024. He still is a member of the State Bar of Texas and the State Bar of Oklahoma.
Wally has been blessed with three wonderful kids. He started Novo Realty with his oldest, Sydney. His other daughter is a student at the University of Texas at San Antonio and coaches gymnastics. His son is a student at the University of Texas at Austin.
Wally and his beautiful wife, Melissa, enjoy time with each other, with family, and with their Miniature Australian Shepherd, Finn.
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