Property Management Services for Oklahoma City, Edmond, Yukon, Moore, Norman, The Village, Piedmont and Midwest City.
Property Management Pricing
– 8% Management Fee
– $300 Tenant Placement Fee
– No Lease Renewal Fees
– 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 analysis of comparable properties to determine rent amount and make recommendations for repairs, as needed. Please note that we may decline to manage a property if the property is not clean, safe, habitable and in full compliance with applicable laws.
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
Step Three – Photos. Manager takes high-quality listing photos. Manager installs sign and lockbox (lockbox is optional, to allow contractor access to the property if needed).
Step Four – Advertising. Manager advertises the property for lease (on Zillow, Trulia, Hotpads, Realtor.com and twodoorsrealty.com). If any repairs are required, Owner can make repairs while the property is listed for lease. Manager can provide referrals for reasonably-priced service providers.
Step Five – Showings. Manager answers tenant inquiries and shows the property to prospective tenants. Manager collects tenant applications.
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.
Step Nine – Rent Collection. Manager collects rents by ACH payment or tenant deposit to Manager trust account. 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 by the 10th.
Step Ten – Owner Software Portal and Statements. Manager utilizes rentecdirect.com professional management software. This software 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. Manager has discretion to make minor repairs (under $200) 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 emergency repairs when tenant safety is at risk (such as mold removal, or a damaged stair railing), or when further property damage is at risk (such as a plumbing leak or roof leak).
Step Fourteen – Move-Out Process. When a tenant moves out, Manager inspects the unit to determine damages. Manager provides a full inspection report with photos to Owner. Damages and any unpaid rent or late fees are deducted out of security deposit and sent to Owner. Tenant receives the balance of the security deposit.
Step Fifteen – Re-Leasing Process. After a tenant has moved out, Manager will recommend any necessary repairs and cleaning to make the property ready for the next tenant. Owners should expect that some expenses will be incurred whenever a tenant moves out. Even with excellent tenants, some wear-and-tear will occur.