Oklahoma rental market is not a new kid in the block and it’s one among the large American rental markets. The thing to down pat is that Oklahoma City offered renters the maximum space for their penny. As per Axiometrics analysis done in early 2016, renter paid dollar 950 approx for an apartment that has 959 square feet. From the analysis, this can also be concluded that this city is the sole large city in America with a rent under dollar 1 (in average) per square feet. Renters are happy as they get good value for their money. High Five! Because rents will remain affordable A piece of goodness for renters in Oklahoma is that they will not struggle with affordable rents unlike other cities. In an average, a renter has to keep aside 20% of income to pay the rent. But the case is not the same when it comes to other cities like New York. According to the surveys of Oklahoma City property management companies, they said that a renter in New York splurge approximately 44% of their income for rent. Rental trend over view Let’s get into some facts and figures that were collected during the month of April. For one bedroom apartments, the city observed an average increase of nearly 0.80 percent. For 3 and 4 bedroom apartments, the prices have decreased by 1.80 percent approximately. For 2 bedroom properties, the rents remained unchanged as compared to the last month. Thus, the lessor or the house owner is advised to rent 1 and 2 bedroom apartments to fetch good profits. Resort on professional property manager Property owners who want to get better price for their property and generate a good rental income should count on the services of a professional Oklahoma City property manager. Properties that are managed by experts have better and higher occupancy rate, less problems with tenants and fewer issues with damages. Do not forget to share any housing affordability issue that you experience.
0 Comments
The right property management company can become one of your biggest assets besides proving beneficial. Hiring property managers are equally important as buying properties, owing to the critical decisions that the property managers take on your behalf. Property management companies must have the necessary passion and determination to work towards resolving client issues without the client’s supervision. While the right property manager can make sure about your monthly cash-flow, the wrong one can drive you crazy and drain you off all the money. Let’s browse through some of the important points one must consider before hiring property management companies. Ability to handle The first and foremost point of consideration is the number of properties they are already managing and how many can they handle. The second thing urging of utmost importance is the number of employees they are powered with to manage the properties. As per study, a seasoned employee aided with the correct tools and efficient work processes can handle as many as 30-40 units or properties. A property management company sans the correct amount of employees will never be able to handle more properties, and even if they do, be rest assured they won’t be delivering any quality management service. Do they have any rental properties? While it might look quite beneficial that a property management company own a rental property themselves as you might think they can better form an understanding of the investor experiences, this can be a real deal breaker. In case of owing a rental property themselves, the tenants and properties always seem to compete with properties and managers instead of prioritizing your property or any kinds of services. Are they willing to listen in? In order to weave a proper relationship or better understanding with your property management companies, they first need to listen to what you have to say instead of imposing their ideas and suggestions. On the very first meeting, try and figure out if they are paying attention to your needs and requests and not interrupting in between. In case, he is cutting you off, be sure they will do the same when would be approaching for investment related questions in the near future. The best property managers are those who are driven with the motive to make their clients happy and content. Oklahoma City Property management companies, make sure that they deliver quality services besides banking upon happy and content customers. OKC property management trades on customer satisfaction over anything else. Know their charge Most property managers ask an approximate 7% to 10% of the total rent for managing your properties but some might have a different percentage. It is better to know what their percentage is based on, before hiring them to work. Some property managers tend to ask for percentage based on the total rents that was collected by them, whether the rents or was collected or not. Look out for such property managers, as paying for something they haven’t collected is the last thing you would want to do. People at Oklahoma City, prefer gathering sufficient knowledge on the amount of fees a property management charges and on what percentage does that relies on before assigning them the respective duty. With the right Property Management Companies OKC put to work, you are ensured with most of the time to yourselves while they do all the important jobs on your behalf. Now with the given guidelines to choosing the correct property manager, you ensure the task of choosing and selecting doesn’t involve any doubts or hassle. |
Details
AuthorOur Oklahoma City Property Management Services can help you find OKC Property Manager that can take away some of the stresses of being a landlord. ArchivesCategories |