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PROPERTY MANAGEMENT

The Benefits of

Professional Property Management

Property Evaluation

We will assess your property, make recommendations, and obtain the best price and a quality tenant.

Vacancies

Vacancies are expensive for both of us. We make every effort to keep our vacancies to a minimum. Our aggressive marketing plan allows your property to be presented to the largest possible market in the shortest possible time. With over 20 years of building relationships we now have a vast and comprehensive network of contacts to help fill vacancies.

Tenant Selection

We want good tenants just as much as you do! We pride ourselves in the quality of tenants we are able to attract. River City Land Company views resident selection as our most important function. Years of experience in dealing with tenant screening virtually insures a hassle free experience. Our extensive tenant screening and credit investigations help ensure this.

Applicants are required to complete a detailed rental application, meet minimum income requirements, rental background, credit requirements and provide references. We run a total credit check on all prospective tenants. In addition, we report any delinquencies to the credit bureaus! This has proven to be extremely effective in stopping late rents.

Once a tenant’s application has been approved, appointments are made to approve the actual lease agreement. We review the lease thoroughly with the tenant. This gives us a chance to answer any questions and to carefully explain the tenant’s responsibilities as well as our company’s policies, and rules. This attention to the tenants’ needs greatly reduces misunderstandings and eliminates many potential problems before they are problems. A copy of the lease agreement will always be sent to you upon execution.

Once again, we want good tenants just as much as you do! We pride ourselves in the quality of tenants we are able to attract.

Security Deposits

For additional protection, appropriate security deposits are always collected upon completion of rental applicants by a prospective tenant. Amount of deposits are based on the monthly rental rate and the credit worthiness of the tenant. Applicants with pets are required to pay an additional pet deposit, if the owner approves a pet.

All deposits are maintained in a trust checking account as required by state real estate regulations until they are either refunded to the tenant upon the successful check-out inspection or are forfeited to cover damages caused by lease violations.

Rental Collections

All rent is due on the 1st of each month and is considered late if received after the 5th of the month. Late notices are sent on the 6th and removal proceedings are initiated if the tenant does not make immediate arrangements for rent payment. We feel that the collection of rent is the second most important function of managing your property.

Accounting Services

Every transaction affecting your account balance is recorded and explained in detail. Our computerized accounting system enables you to see exactly what has transpired with your property on a monthly basis.

Copies of all work orders and receipts are kept on file throughout the year. We will be happy to provide duplicate copies of this information at the end of the year to help you with your tax preparations.

In addition to the monthly statements we also provide a complete account summary at the end of the year. This shows you each accounting transaction posted on your property during the year; i.e., total rent received, total mortgage payments made, total maintenance expenses, etc. These statements are specially designed to simplify the year-end tax preparation job for you and your accountant.

Property Inspections

Our main job is to protect your investment property. We do this in two different ways. First we make frequent drive-by inspection tours of your property. In addition, we make regular preventive maintenance inspections of the interior of the property. It is stated in the tenants lease agreement that we have the right to make routine announced inspections. Tenants are always notified in writing of pending property inspections.

River City Land Company conducts routine inspections, and tenants who are doing a good job received a letter thanking them for their time and the care taken in maintaining their home. Tenants who are doing a poor job are also notified, and then we follow-up with a second inspection ten (10) days after the tenant has received the failure report. If the tenant has not shown good faith by providing property maintenance or making requested repairs we will begin proceedings to correct the problem at the tenant’s expense.

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