FAQ
FAQ
Frequently Asked Questions
what is a master lease?
A Master Lease (also known as a Sandwich Lease) is a lease agreement that encompasses three or more parties. The initial lease agreement is between the Property Owner and the Master Tenant who has the right to sub-lease. Next, the Master Tenant sub-leases the property to the Occupant Tenant who will live in or occupy the residence.
Who pays the rent to the property owner?
Castle Keys of Texas (as the Master Tenant) pays rent directly to the property owner. We deposit the rent directly to the owner’s bank account generally by the 5th of each month but guaranteed by the 10th of each month.
How are repairs handled?
Minor repairs are handled by the occupant tenant up to a limit of $75. (We give them a list of approved contractors.) Anything over $75 must be approved by Castle Keys of Texas. We reserve the right to approve emergency repairs up to $500. Otherwise, the owner is contacted for approval depending upon the terms of the lease.
Who is the Master Tenant?
Castle Keys of Texas LLC is the Master Tenant.
The Occupant Tenant is just as the name implies. They occupy the rental property.
How are occupant tenants selected or approved?
We have some basic criteria such as three to four times income to rent ratio which is detailed in our Policy Manual. We check and verify employment, income, criminal background, etc. Occupant tenants are selected on a “best qualified” basis, not “first come, first served” basis.
- 281-380-2128
Let's Find the perfect occupant tenant for your rental property!
Castle Keys of Texas will lease your property as the Master Tenant and then sub-lease to the Occupant Tenant. Call us to learn more!