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Questions to Ask a Tulsa Property Management Company

22 April 2015
Questions to ask your Tulsa property management company

Whether you’re a first time real estate investor or a seasoned professional looking towards retirement, a reliable property management company protects and adds tremendous value to your portfolio. If you own rental properties or are thinking about buying, here are some important questions to ask a potential property management company in Tulsa!

First, focus on the basics. Understand what their qualifications are and what your business relationship will look like.

  • How long have you been working in the Tulsa rental property market?
  • What types of properties do you manage, and what qualifies you to manage my specific portfolio?
  • What is your website address, and what kind of resources are available there?
  • Can you give me several references of current management clients?
  • How many vacancies to you have right now?
  • How do you price your monthly property management?
  • What services are included in your monthly agreement?
  • Are there any other fees that not included? (setup, leasing, eviction, cancellation, etc.)
  • Do you charge your clients a vacancy fee? (This is a big one! Beware of anyone willing to charge you for letting your property sit empty.)

Next, you should make sure you understand how they handle any issues. Remember, you might not always want to talk about potential rental problems, but this is when you will need your property management company the most! A good management company will have a thorough tenant screening process but is also no stranger to curveballs. They will have a system in place to protect you and ensure your property maintains the best possible cash flow.

  • How do you screen potential tenants?
  • How do you address any tenant concerns and make sure they feel at home?
  • How do you handle tenant rent collection and late fees?
  • How do you process work orders and maintenance?
  • How often will you inspect my property?
  • What kind of insurance do you carry, and how are my assets protected?
  • If it comes to it, how does your eviction process work and how would you protect my property?

Your rental portfolio is one of your most important assets, and having the right management is extremely important. Use these questions to make an informed decision, and trust your instincts along the way. Does the company really care about keeping both tenants and owners happy long-term, or are they just out to make another buck? Find a good Tulsa-area property management company now, and you will reap the benefits for years to come!