Property management duties include collecting the rent, taking requests from the tenant for items such as for maintenance and making sure they get done, and providing the accounting.
We provide a number of options for the tenant to pay their rent, including making online payments. We make arrangements to get the maintenance done. The accounting is provided in an itemized monthly statement. The monthly statement shows all the expenses and income from the last 30 days. And, it has copies of any invoices.
Here is an article on how to find a good property management company in OKC. Also get to know what makes us different from other property management companies in Oklahoma City.
It is subjective. You might need to hire a management company if: you have many rental investment properties to manage or if you really want to be benefited by taking the right rental decision. If so, You can opt for our professional property management services. Get to know more about what does a property manager do.
Check your Oklahoma City property management services agreement about the terms for terminating service with your property manager. It’s normal to have a certain term for the agreement, such as one year. However, if you try to leave that company during that one-year term, you may be penalized for doing so by Oklahoma City real estate law.
Check to find out what type of notice you need to provide to stop service. A 30-day written notice is standard.
OKC Home Realty Services requires a 30-day written notice to terminate service. A client may stop service with us at any time without financial penalty. We offer that to our clients because we offer a quality service, and we aren’t worried about losing clients.
If you’re someone who doesn’t have time or doesn’t like to handle tasks such as tenant screening, rent collection, and property maintenance, then you shouldn’t manage your property yourself. Property management requires expertise in legal requirements, accounting, and marketing. Hiring a property manager will give you peace of mind and maximize your property’s potential for success.
Note: This is not legal advice. There are two main reasons you may evict a tenant from the property. The overwhelming number of tenants are evicted due to nonpayment of rent. The other reason is due to any other lease violation. The first step in doing an eviction is to provide the proper notice to the tenant. Normally, that consists of serving a 5-day notice to quit. The property manager can serve the tenant the notice. However, since the beginning of the coronavirus pandemic, it has been advisable for an eviction attorney to handle the rest of the eviction process. Read our article on Oklahoma eviction process to find out more details.
A Property Management Agreement is a legal contract between a property manager and a property owner who hires them. It includes all the essential clauses that a property management company should follow once they are hired.
Along with that, it also outlines the rights, responsibilities, and expectations of both parties regarding the management of a property or properties. Learn More here.
Section 8, a public housing program, is funded by the federal government through the department of Housing and Urban Development (HUD). Tenants must be able to prove their financial need. Your property must pass an inspection to insure that it meets minimum HUD housing standards set by Oklahoma City government bodies.
The rent is guaranteed by the OKC federal government. But, there are limits, particularly the rent an owner can charge.
But there are many properties in bread and butter neighborhoods that make perfect section 8 rentals, particularly if they are older but not that old, and rent for close to the maximum allowable rates for under the section 8 program.
OKC Home Realty Services finds tenants by advertising/marketing your rental property on our online platforms. We schedule showings of your rental property, screen prospective tenants thoroughly and rent your property out to the best tenant you deserve.
OKC property management companies need to very careful about holding down maintenance costs.
Don’t overspend on unnecessary maintenance items. Don’t deferred rental property maintenance if it’s going to cost you more in the long run. For big expenses, shop price. There are some OKC property management companies that make most of their profit on maintenance, buyer beware. You could invest in newer properties because older properties are prone to higher maintenance costs.
OKC Home Realty Services is a property management company that specializes in single-family homes to multi-family homes serving Oklahoma City and neighboring metro areas.
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