Property Management in Oklahoma City

[Michael Walker]

Hello Oklahoma City - I am looking for recommended property management companies that cover the OKC and surrounding areas as far south as Norman. Specifically for 4-10 unit properties. If you are a current PM, send me a email with your info and please include your current unit count and occupancy level of that total. Thanks and I look forward to talking to you! ~Mike

[Ryan Edwards]

I am an investor. I use a property manager for all my properties (about 12). I would highly recommend the guy we use. I have used a few different ones throughout the years. In my experience I like to use a smaller local company as opposed to the national big guys. Had a bad experience with the big guys and great experience with the little ones, so not looking back! 

The company we use is Nano Investing. We just started using him and have been very impressed so far. Bigger Pockets will not let me send you his phone number so I guess Message me and I'll get it to you.

[David Niederman]

I would appreciate the contact info for this company as well. Thank you in advance.

Best,

-David

[Ryan McNeely]

@Ryan Edwards would love your property managers info if you don’t mind sharing.

[Ralph Justiz]

Hey y'all. Some property managers that I recommend to my clients in the OKC market are Renters Place (Flat fee based) and Camber Property management (Percentage based).  I've heard great things about both companies from my local clients as well as my out of state investors. If the other groups mentioned above don't work out I suggest giving these guys a call.

https://www.rentersplace.com/oklahoma-city-property-management

https://www.camberpm.com/


 

[Ben Halabi]

Originally posted by @Michael Walker:

Hello Oklahoma City - I am looking for recommended property management companies that cover the OKC and surrounding areas as far south as Norman. Specifically for 4-10 unit properties. If you are a current PM, send me a email with your info and please include your current unit count and occupancy level of that total. Thanks and I look forward to talking to you! ~Mike

Finding the right property management is 50% of the job when investing. I recommend asking the PM you are going with a couple of questions before making the decision, I recommend asking your next manager a couple of questions:

Do you mark-up maintenance and repairs?

What does your screening process look like?

Do you charge any fees if the unit is vacant?

What are your management fees?

What is the best way to communicate with your team and what options do I have?

If I want to cancel my management agreement do I have to pay any fees?

How do you determine the rent amount?

How do you market vacant units?

What kind of software do you use?

Good luck!!

[Michael Smythe]

@Michael Walker

Even if someone give you a referral, don’t make the mistake of assuming that PMC will meet your expectations, just because they met the expectations of the referral source.

We also can’t believe how many owners hire the first PMC they speak with!

Then they complain their expectations aren’t being met!

In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

It's often a case of not doing enough research, as they don't know what they don't know!

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – and they often select the first PMC they call!

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.

EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!

This also leads owners to ASSUME simpler is better when it comes to management contracts.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord. Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:

https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊

[Bryce Pappas]

Central Property Management is a good company to contact in Oklahoma City.

[Tracy Streich]

@Ralph Justiz  Thanks for the shoutout.  

Just a reminder you have to be licensed in Oklahoma to manage for others.   This does not mean they will do a great job but it is at the very least the minimum standard from where you need to start.   I do not see Nano Investing as registered with the Real Estate commission unless they are operating under a different name.   @Ryan Edwards you may have some additional insight.   You can always look up a potential PM on the website.  oklahoma.gov/orec