Oklahoma City vs Nearby Cities
Oklahoma City is located in central Oklahoma and offers real estate prices below the national average. The median listing price can get close to $200,000 at times but tends to stay below this figure most of the time. The median price per square foot is typically around $100, and these prices are comparable to many surrounding cities. Tulsa and Stillwater are two popular cities in this region of the state, and they both have real estate prices on par with Oklahoma City. There are some small towns in the region that have lower prices. For instance, the median listing price in Lawton tends to stay around $100,000.
Oklahoma City Property Managers
Property managers are real estate professionals with excellent managerial and communication skills. They interact with current tenants and process repairs and evictions as needed, but they may also handle the advertising, screening and assignment of new tenants. Most managers provide routine reports to ensure that property owners are up to date on all aspects of the business.
Oklahoma City Property Management Company Fees
Most property managers base their fee on the amount of rent collected from tenants each month. This rate can go over 10 percent at times, depending on the services included and qualities specific to the property. There are often additional fees if tenants want to order services not included in the standard management contract.
Oklahoma Landlord/Tenant Laws
- Once a tenant moves out of a rental unit, the landlord has 30 days to return their security deposit.
- Oklahoma doesn’t place any restrictions on the dollar amount that landlords may charge for a security deposit.
- When a landlord fails to return a tenant’s security deposit, the tenant may sue the landlord for up to $7,500 in damages.