My name is Scott Nachatilo. I’m the owner of OKC Home Realty Services, LLC.

You are looking for good property management companies to manage your property.

That’s why you’re here.

There are seven key questions you should be asking about every company that you interview. Here they are:

1. Do Oklahoma City property management companies really know the rental property market and the neighborhood where your property or property is located?

Property Management OKC needs lots and lots of experience. Decades, preferably.

Why?

There are a number of reasons.

• They need to fill vacancies with tenants who will tend to stay for the long term.
• Experienced property managers know what improvements to make on your property to make it more durable and keep expenses down.
• In addition, property managers must know when to raise rents for your property, and by how much. It takes experience to know these things.
• Property managers must know how to follow the law regarding collections practices from their tenants. But that doesn’t mean letting the tenant off the hook. Instead, proficient property management companies must ensure that when a tenant is behind on rent they stay after the tenant until they are current.

 

That’s right, they get them to stay current on rent.

That company gets tenants to stay longer in your property.

They will advertise proper rents because they know what your property should rent for.

They will get as much as possible for your property – but not waste time advertising your property at too high a price. 

Also, if there is any chance that your property might go on section 8, you need to find out if the management company is proficient in doing section 8.

So ask them the question: Do they lease properties on the Section 8 housing program?

To find out more about doing section 8 rentals.

Never had a property manager? Eliminate Your Rental Property Headaches By Hiring a Property Management Company

2. What type of monthly accounting report should Oklahoma City property management companies provide for your property?

Good property management companies have nothing to hide. They provide monthly statements for your property that show all documentation for any income and expenses. Obviously, you can’t afford for your property management company to waste your money.

The bottom line: Property management companies must provide you with easy-to-read statements.

Click here to find out more about what you should expect from monthly statements.

3. What type of service guarantee should Oklahoma City property management companies provide?

Oklahoma City property management companies worth their weight should stand by some type of guarantee. Here is ours:

1. We provide you with a financial progress report accurate to the penny and your payment by the 13th of each month, usually by the 10th or 11th.
2. We return calls the same day if possible, and the next business day is guaranteed.
3. If at any time you are unhappy with our service for any reason, give us the notice to cancel at any time.
4. We keep maintenance costs down because we get volume pricing from all our maintenance personnel and contractors.
5. We represent you in any court eviction free of charge.

In addition, you should always be crystal clear on the specific Oklahoma City property management services that will be provided.

4. How long should it take to complete a make ready for your property?

The longer it takes to complete make readies, the more money you lose.

The vacancy is very expensive!

Find out how OKC Home Realty Services, LLC, completes make readies in an average of 13 days.

Read this guide to reduce your vacancy rate by making your property rent ready quickly.

What other types of Oklahoma City property management services are offered?

Are you frustrated with your current property manager? Don’t worry we have the solution.

5. How long should it take to lease out your property? How carefully do they screen applicants for your property?

One of the most important functions of Oklahoma City property management companies is getting properties quickly leased. OKC Home Realty Services, LLC leases our properties, on average, within 22 days (that means the tenant starts paying rent).

It doesn’t matter how quickly your property gets leased out if the property management company doesn’t carefully screen the applicants. In fact, it might even be more expensive than just letting the property sit empty! To find out the three most critical things to focus on when screening Oklahoma City tenants for your property.

6. Does the property management agreement have any “gotchas”?

The property management agreement defines responsibilities. It should clearly define what the management company and you are responsible for, how much the property management company shall be compensated and when it will occur, and what happens when things go off track.

Check out: What is Included in Property Management Agreement

7. How is maintenance for your property handled? How is it charged?

The way that Oklahoma City property management companies handle maintenance can make the difference between making a positive cash flow or not for your property.

Oklahoma City property management companies must keep you in the loop on maintenance.

Period.

A good property management agreement requires the Oklahoma City property management companies to notify the owner if the expected cost of the repairs exceeds a certain dollar amount.

You can read more about: What to Look for When You Hire a Property Management Company