Current Owner FAQs

1. How is my owner check calculated, and when will I get it?

Owner checks are calculated based on the account balance on the last day of the month.   Account Balance minus Portfolio Minimum minus unpaid bills at end of month = Owner Draw amount.  This amount is sent out between the 10th and 15th of the following month, after bank accounts have been reconciled.

 

2. How do I assess my Owner Portal?

For first-time log in, you will receive an email with a link to take you to your login area.  You will be able to customize your password.  At any time after the initial login, you can go to www.riverside-mgmt.com, hover over “Login” and click “Owner.”  Use your email address and the password that you set up to login to your portal.

 

3. How do I see my account information?

Once logged in to your Owner Portal, click on the “Statements” tab.  Here you will find a Balance Summary, along with all of your monthly property statements.

 

4. Where can I see the bills that Riverside has paid for my property?

When you are logged in to your Owner Portal, click on the “Bills” tab.  The default is to show all bills from the current month, by bill date.  You can customize this using the drop down lists next to “Filter By.”  To see the detail of the bill, click on the “Choose” button next to the bill, and then click “View Detail.”

 

5. What if I want to see other reports or documents?

If you are looking for information not already on your portal, please email: accounting@riverside-mgmt.com with details of the information desired.  We can customize reports and post them to your portal.  These custom reports can then be accessed under the “Reports” tab.  We can also scan and upload documents, such as leases and contracts.  These would be found in the “Documents” tab once they are uploaded.

6. What is the maintenance process?

  • Tenant calls the office for a work order and it gets entered into the system
  • The property operations manager reviews all work orders to approve them based on order of importance and date entered
  • Property Operations Manager approves work orders based on budget and spending limit
  • Work Orders are then schedule with maintenance personnel
  • Maintenance personnel complete work order in a timely professionally matter
  • A follow up survey is sent by email to the tenant once the work order is completed and closed to gather information on customer satisfaction

 

7. What is your EMERGENCY maintenance process?

We have a 24/7 maintenance personnel member on call at all times.  So if there is a call to one of them, especially after hours,  they will go out to the call to check on the emergency to ensure there will be no further damage to the property

8. What happens with the security deposits when a new tenant is moved in?

There are two ways the security deposits are held.  First, if you are an owner of a single family home, condominium, town home, or a building with 20 units or less, the security deposits will be deposited into your account and will be added to your portfolio balance which will be sent out with the owner draw check on the 15th.  Second, if you are an owner with a building of 20 units or more, then there is a separate account for security deposits to be held because that is the requirement by law.  

9. Do you perform property inspections?

Yes we do perform property inspections.  Any person on staff who is on site at any given time is required by our business practice to check on the property for any issues that could have arisen.  This is just part of our process to make sure everything is good at the property.  Along with these we also will at least two times a year go out to your property to check for any issues, so we could report back to you with any preventative maintenance suggestions to avoid future problems.

10. How do you determine when a vacant unit is ready to be rented?

For a unit to be deemed ready by us we must have our maintenance personnel who worked on the unit sign off to say that all the work is completed and the unit is ready for rent.  Then one of the members of our leasing staff will inspect the unit to determine if they deem it ready for rent.  They judge based on if they were a future tenant would they move in right away.  Once our leasing agent signs off then we will published the unit as ready to move in.

11. What is the process you go through to ensure proper collection from tenants?

With our rent collection process rent is due on the first of the month for our tenants.  We allow a grace period to the 5th of the month to have rent due.  After the 5th there is a late fee charged to the tenants who have not paid.  Then each tenant will be issued a 5 day notice to have payment in full in those 5 days or their file will be sent to the attorney to begin the collection process.

12. What is your check in and check out procedures?

Our check in and check out procedures are very similar.  We meet with the tenants at a scheduled time where our leasing agents will walk through the property with them.  We take detailed notes on what problems are around the apartment.  We then have the tenant sign and date the document along with our leasing agent to keep a clean record of how the apartment was given to the tenant or left by the tenant.

13. How often will you communicate with me? And by what form of communication will it be through?

We communicate with you when any issues that would need your attention arise or for any improvements that would require your approval first.  The media it would be through would likely be a phone call to discuss the plans or changes then followed up by an email to allow to have the scope of the information in writing and not just by word of mouth.  We will look to get your approval from the email before we start any work.