Managing Single-Family Homes in Oklahoma City, Edmond, Yukon, Mustang, Moore, The Village, Piedmont and Midwest City.
Property Management Pricing
– 8% Management Fee
– $300 Tenant Placement
– $100 Lease Renewal Fee
– No Cancellation Fees
Full-Service Property Management
– Professional Screening and Tenant Placement
– Online Rent Collection and Owner Payments
– Affordable Repairs and Make-Ready
– Management Software with Owner Login
Our Complete Property Management Process
Step One – Initial Property Visit. One of our managers will visit your property. We will provide a rent analysis and make recommendations for repairs, as needed. Please note that we may decline to manage a property if the property is not clean, safe and habitable.
Step Two – Management Agreement. Manager and Owner execute Property Management Agreement. The Management Agreement discuss in detail the rights and obligations of the Manager and the Owner. Review a sample of our Management Agreement here: Property Management Agreement – Sample
Owner is required to pay a $200 setup fee, which is refundable to Owner upon termination of the Management Agreement. This fee is charged in lieu of a repair reserve and is not held in a trust account. Owners with multiple properties under management pay only one setup fee.
Step Three – Photos. Manager takes high-quality listing photos. Manager installs an electronic codebox on the property. Prospective tenants will be able to view the home using a one-time use code by providing a photo ID and fill out a pre-screening questionnaire.
Step Four – Advertising. Manager advertises the property for lease (on Zillow, Trulia, Hotpads, apartments.com, twodoorsrealty.com and other several other sites). If any repairs are required, Owner can make repairs while the property is listed for lease. Two Doors Realty can coordinate make-ready services at Owner’s request.
Step Five – Showings. Manager answers tenant inquiries and coordinates tenant showings using our electronic codeboxes. Tenants are able to schedule showings 7 days a week. Manager collects tenant applications.
Utilities are required to be activated while homes are vacant in order to accommodate showings. Owners may activate their own utilities or request that Manager activate utilities. Two Doors charges a $5 surcharge on all utility payments made by Two Doors.
Step Six – Screening. Manager screens tenants. Manager reviews eviction and criminal history and credit report, verifies employment/income, and speaks with current/previous landlord. We pride ourselves on our ability to find highly-qualified tenants for our rental properties. Our screening process complies with all state and federal fair housing laws, which prohibit discrimination on the basis of race, color, pregnancy, sex, religion, national origin, disability, age, source of income, and family status.
Step Seven -Lease Signing Manager approves a tenant application. Tenant pays security deposit (to be held by property manager in a trust account) and first month’s rent (to be delivered to owner). Manager retains $300 tenant placement fee out of first month’s rent. Tenant and Manager sign lease. Review a sample of our Lease Agreement here: Lease Template – Two Doors Realty Watch our tutorial video regarding handling of tenant security deposits in Oklahoma:
Step Eight – Move-In Process. Manager and tenant property walk through the property. Manager demonstrates smoke detector testing for tenant. Manager and tenant discuss maintenance policy and procedures. Tenant moves in.
If Owner maintains utility accounts, utilities should be shut off on or shortly after the lease start date.
Step Nine – Rent Collection. Manager collects rents by ACH payment or by check. Manager pays all rents to owners by ACH transfer, less 8% management fee. Rents a considered timely if received by the 5th. Owners typically receive funds between the 10th and the 12th each month.
Step Ten – Owner Software Portal and Statements. Manager utilizes Buildium professional management software. Buildium allows each owner to have his or her own online login to view real-time statements and reports. Manager can also generate owner statements upon request.
Step Eleven – Late Notices and Procedures. If rent is not received by the 5th, Manager posts a 5-day pay-or-quit notice, in person and by certified mail. If tenant does not pay in full within 5 days after notice, Manager will consult with the owner regarding initiating eviction proceedings. Postage fees, court filing fees, and attorney fees are paid by the Owner, but no additional fees are payable to Manager in the late notice or eviction process. Watch our tutorial regarding late notices and evictions:
Step Twelve – Minor Repairs. When minor repair issues, or emergency issues arise, Manager schedules the repair to be made and notifies owner. Tenant is invoiced for damages caused by tenant. Owner pays for systems repairs, wear-and-tear items, capital expenditures and other repair expenses not caused by tenant. Manager has discretion to make minor repairs (under $300) to be reimbursed out of the next rent payment. Built-in appliances are an owner responsibility. Our lease specifies that the owner will not pay to repair refrigerators, washers or dryers, if provided.
Step Thirteen – Major Repairs. When major repairs arise, Manager consults with Owner to determine the best solution. Manager has discretion to make urgent repairs when tenant safety is at risk (such as a furnace going out in the winter), or when further property damage is at risk (such as a plumbing leak or roof leak). Owner will be required to either make a payment to Two Doors Realty to cover the cost of major repairs, or to pay the repair provider directly. Two Doors Realty does not mark up or add a surcharge to any repair bills.
Step Fourteen – Move-Out Process. When a tenant moves out, Manager inspects the unit to determine the condition. Manager will repair tenant damages and have the unit cleaned as needed using the security deposit. If the tenant damages exceed the security deposit, or other repairs or make-ready work are needed, Manager will coordinate with owner to minimize the repair expense and turnaround time. Any remaining security deposit will be refunded to the tenant.
Step Fifteen – Re-Leasing Process. Near the end of the lease term, Manager will list the property for rent on waitlist status. Showings will begin once the home is vacant, clean, and ready to be shown. Two Doors Realty does not show tenant-occupied houses because they tend to show poorly.