About Lockwood Property Management

We grew up in this industry. Both of our families have owned investment properties in Texas since we were children, so what most managers learned in a training seminar, we learned by watching our parents handle tenants, chase leaks, and balance rent ledgers at the kitchen table. That's one of several things that sets us apart from a typical property management company.

Today, Lockwood Property Management manages single-family homes, duplexes, townhomes, condos, and small-to-mid multifamily properties across the Dallas-Fort Worth metroplex. We are licensed Texas real estate professionals with a sponsoring broker at Keller Williams Ft. Worth, which means our work is regulated, insured, and held to the standards the state sets for every real estate transaction.

Jamie Hagwood

In the 1980s, Jamie worked Civil Service with the U.S. Air Force's 7th Civil Engineer Squadron on the "Self Help" program, teaching military personnel how to repair and renovate military buildings. He spent four years in that role while also managing and maintaining his family's rental properties on the side. He earned his Texas Real Estate License in 1993 and began managing rentals for other owners while also representing buyers and sellers.

Unlike many property managers, Jamie will personally take the time to check out many maintenance issues himself before dispatching a vendor. This protects the owner's wallet and lets us explain, in plain terms, what repairs are actually needed. Often, if the problem is minor, the owner is never even made aware of it because it was fixed on the spot. It takes more of our time, but it keeps costs in check, and that's the deal.

Sheri Hagwood

Sheri began taking care of her family's investment properties at the age of 15. After completing her education, she spent 20 years in a professional field doing books, records, and profit and loss statements. That bookkeeping backbone has been Lockwood's financial engine from the beginning. She earned her Texas Real Estate License in 1999 and has run a full-fledged real estate career alongside the management work ever since.

Sheri keeps detailed records for every property we manage, and she will gladly send you a profit and loss statement with your check each month, or quarterly, or annually. Whichever cadence fits your tax planning, your bookkeeper, or your peace of mind.

What Sets Us Apart

Any property management company can list bullet points. These are promises we actually keep, written the way we mean them.

• Honor. We have heard the horror stories. We are not those managers.
• Service. Big enough to make a difference. Small enough to care. Your call goes to a real person who knows the property, not a call center.
• Experience. We were managing properties long before the recent flood of property managers entered the market. We have seen every kind of tenant, every kind of repair, every kind of lease issue.
• Competitive rates. 8% monthly management fee. 50% of first month's rent as the leasing fee when we place a tenant. No management fee charged on the first full month's rent.
• No eviction surcharge. On managed properties, you pay only the actual court and filing costs. We don't mark up the eviction process.
• No minimum fee. If the property is vacant, we don't make money either. Our interests are aligned with yours.
• No renewal fee. When your tenant renews, you don't get charged again. We're paid to manage the property, not to re-sell it to the same person.
• No surcharge on repairs. What the vendor charges is what appears on your statement. Read the other companies' fine print and then read ours.
• Buying power. Because we deal in volume, we get discounted rates with most of our vendors. Those savings get passed on to you, not pocketed.
• Licensed full-service brokerage. We can sell your property when the time comes, or help you find the next one. Same team, same relationship.
• MLS listings on every rental. Not every agent lists rentals in the MLS. We do. That means cooperating agents bring us qualified tenants faster.

Our Fee Structure

Full Management

The leasing fee is 50% of the first full month's rent when we place a tenant, and the ongoing management fee is 8% per month thereafter. We do not charge a management fee on the first full month's rent, because the leasing fee already covers that month. Because we list the property in the MLS system, we split the leasing fee with the cooperating agent who brings the tenant.

Once the property is under management, we list it in the MLS, syndicate it to every major rental search site, put up a sign and a lockbox just as if it were for sale, screen prospective tenants at their expense, and choose the best applicant against the criteria you've approved. All rent is paid directly to us each month. We deduct any approved expenses and forward the balance to you. We handle all repairs and emergencies, and we provide access 24 hours a day, 365 days a year. The idea is simple: relieve you of the hassle, from chasing down rent, to filing eviction when needed, to renewing leases, to coordinating repairs and make-readies. Most owners feel that the monthly fee is well spent for the convenience and peace of mind it provides.

Exclusive Right to Lease

This is the option where you manage the property yourself after we place a tenant. We put up a sign and lockbox, list the property in the MLS, syndicate it to our websites, and screen tenants at their expense. Once we find a qualified tenant, we hand the entire package to you and step back. You handle rent collection, evictions, record keeping, profit and loss statements, vendor coordination, repairs, maintenance, and make-readies. The charge for this service is one full month's rent, paid at placement.

If you factor that fee across a year's lease, the Exclusive Right to Lease only saves about 5% compared to full management, which is why fewer than 3% of our clients choose it. Most owners decide the ongoing professional management is worth far more than a small savings at the start.

Where to Find Us

Our office is located at 4055 International Plaza, Suite 220, Fort Worth, Texas 76109. We serve the entire Dallas-Fort Worth metroplex, including Tarrant, Dallas, Collin, and Denton counties. You can reach us by phone at (817) 332-7368 (which also spells 817-332-RENT), or by email at jamieandsheri@att.net.