Stillwater vs Nearby Cities
Stillwater is a small town in central Oklahoma that offers real estate prices similar to those seen in larger nearby cities, including Oklahoma City and Tulsa. The median listing price is around $200,000 in all three cities, and they sometimes drop a bit lower. It’s common for buyers to pay around $100 per square foot in this area of the state, but there are some cities with higher real estate prices. For instance, the median listing price in Edmond is often around $300,000 with a median price per square foot close to $150 at times. Renters can expect to see the median rent price around $1,000 in this region of Oklahoma.
Stillwater Property Managers
Property managers in Stillwater take care of the routine daily tasks needed to keep rental properties profitable and in line with all legal statutes. They may also help with tenant recruitment, marketing, accounting, and property upkeep. When property upgrades and repairs are ongoing, the property manager is likely to oversee the budget and progress of the project.
Stillwater Property Management Fees
Property owners can expect to pay a managerial fee plus added expenses when hiring a property management team in Oklahoma. The fee is often a percentage of the rent collected from tenants each month, and it can go as low as 5 percent and as high as 15 percent. Most managers charge extra fees for expenses and time needed to secure new tenants.
Oklahoma Landlord/Tenant Laws
- Oklahoma landlords can charge as much as they want when it comes to security deposits on rental units.
- When rent is overdue, landlords in Oklahoma must give tenants at least five days to pay the rent or move out. The eviction process may start after that period is up.