- We do the bookkeeping. Our computer systems keep complete, accurate records of every income and expense that affects your property.
- Convenient monthly cash flow statements simplify the job of tax preparation for you and your accountant.
- Copies of all work orders and receipts are sent to you and a copy retained in our files.
- We direct deposit your monthly rental proceeds directly to your account.
- Thorough and comprehensive documentation is a key ingredient to good property management. It prevents confusion and gives everyone involved a clear understanding of what is expected. Written documentation is used to screen and lease, inspect and maintain the condition of your property. Pertinent financial information is also made available to you.
- The River Oak Realty Property Management Agreement defines our working relationship with property owners. It details the obligations and responsibilities of both parties.
- As a basis for general screening and the checking of rental references, every prospective tenant is required to complete a detailed Rental Application.
- Properties are carefully inspected with tenants and management at the time of rental. The appearance and physical condition, etc., are well documented and a Move-in Inspection report is filed.
- In the event of non-payment or any other violation of our Lease Agreement, tenants are put on an official notice and demanded to take immediate corrective action.
- River Oak Realty prepares a cash flow Statement for property owners every month.
- An IRS Form 1099 reflecting your rental income is prepared and mailed to you at the end of the tax year to assist you in the preparation of your taxes.
- We have an extensive 3rd party maintenance vendor list of qualified and reasonably priced personnel to properly perform maintenance tasks.
- We also closely control and supervise our maintenance work. We know what repairs should cost and how long they should take to complete.
- We protect the value of your investment by helping to maintain your property at current neighborhood standards.
- Our leasing and monthly management fees are payable when the rent payment is received. It is automatically deducted from your account at the time the rent payment is posted.
- Since one of our jobs is to keep your property occupied and rent timely paid, there are no management fees charged as long as your property remains vacant or rent is delinquent.
- Frequent drive-by inspections are made to see that the property exterior is well maintained and periodic interior inspections, as authorized by the tenant’s lease agreement, are made by our Property Managers. Where inconsistencies are noted, tenants are notified of necessary corrective action and the owner is advised.
- Your property is advertised throughout the rental marketplace.
- As members of the local association of REALTORS® and Multiple Listing Service, we share our vacancy listings with other members.
- River Oak Realty is always aware of current market conditions and therefore we make every effort to rent your property at its highest value.
- Our computer system and digital camera files enable us to maintain an exhaustive list of all features that make your property desirable and special.
- Rent is due on the first of each month and late at close of business on the third day. Late notices are sent at the appropriate intervals and eviction proceedings are initiated if the tenant does not make immediate payment arrangements.
- Unlike many other companies who make their owners pay for expensive eviction attorneys, River Oak Realty handles the paperwork, filing, and oversight of evictions for our owners at no additional charge. We consider this to be part of the job our owners pay us to do. We have a streamlined eviction process that keeps the time from filing to possession at a minimum.
- We pride ourselves on the quality of tenants we have been able to attract. We want reliable and qualified tenants just as much as you, do and River Oak Realty’s tenant screening and lease procedures help to ensure this.
- A thorough background check is performed before any lease is signed. This process includes a credit history review with the credit bureau, employment verification, and a check of any eviction or criminal histories. River Oak Realty also contacts all appropriate references, including past landlords.
- The use of proper legal forms, security deposit forms and other legal documents is always an integral part of the way we work.
- We make every effort to keep vacancies to a minimum and re-lease a property as soon as possible.
- If a tenant does decide to move, the property must pass a thorough checkout inspection. The tenant will then be released from the Lease Agreement and the security deposit returned. This minimizes the preparation and turn-around time before your property is re-leased. A Move-out Condition Report will not be made until the tenant has removed all furnishings and other personal belongings, and the tenant will not be permitted to re-enter the property once the property condition report is complete.