Property Manager in Coweta, Oklahoma

6 Replies

Looking for property management recommendations for a 23 unit multi-family complex in Coweta, Oklahoma. I currently manage my existing rental portfolio, but will be outsourcing the management of this complex. Any recommendations would be greatly appreciated! Also, if any existing or prospective investors might have some interest managing the complex, feel free to reach out. It could be a nice supplemental income and additionally great exposure for a new/advancing investor. #broken arrow #tulsa 

Appreciate it! 

Cain  

Hello Cain, I just sent you a message. Please let me know if you don't receive it. 

Cain. I would love to visit with you about management.   Please keep in mind that to mange properties for someone else in Oklahoma you have a Brokers Liscense. 

Originally posted by @Tracy Streich :

Cain. I would love to visit with you about management.   Please keep in mind that to mange properties for someone else in Oklahoma you have a Brokers Liscense. 

 Good morning Tracy, I recently contacted OREC regarding property management here in Oklahoma. I was told that you could manage your own property, or be employed by an individual or entity to manage properties. It was my understanding the difference was employment versus contract labor. Is this accurate information, or did I talk to the wrong person? Other than the regulation stating that you had to be or work for a broker I couldn't find much regarding this on the OREC website, so I called. But, I didn't get a reference to an actual regulation so now I'm worried that I don't fully understand the laws. I'm just starting out, so I would greatly appreciate any information you could provide. Thanks!

To manage for others you have to be a broker or an actual employee of the company.  That does not mean they can just pay you to manage their property.  If you manage for anyone other than yourself including family you have to be a broker or a w-2 employee.  Not a 1099 contractor.  

tracy is right in my opinion.  this does not mean that folks are not pushing the limit on this somewhere around town but i recommend you stay well clear of any possible issues.  either form a company and hire an employee or find a broker to manage for you.

Thanks for the feedback. We'll be forming a new entity  for this project either way, and fully intend on either outsourcing the management to a broker or hiring someone and preparing necessary documentation each year. Definitely appropriate to keep everything above board.

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