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.
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.
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.
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.