Hello fellow Tulsa investors!
I am a long distance investor (Florida) with a duplex in Midtown near Bishop Kelly HS. My PM has been less than ideal, first not telling me for 4 weeks that my tenant bailed one month after renewing a 12 month lease, then charging me $2400 to turn over a one half duplex 2/1 that rents for $1100/month. (And yes, I questioned the costs)
They finally got the property listed in November. They provide me a weekly report on activity. This week, the tally is 700+ views, 38 showings in 4 months. Had 3 applications, one incomplete and 2 were "terrible" and high risk.
So why is it not renting, one asks? It's location, price, or quality. Location is ideal and in a quiet residential neighborhood. Price, we adjusted the rent down 2X already. Quality, I have been asking for feedback from viewings and they tell me that they provide "remote showings", in other words, they get an ID, provide a lockbox code, and the prospect views on their own. No one collects any feedback. So I cannot act on what I do not know.
In the meantime, I personally have found 2 back to back tenants for the other 1/2 by putting a sign in the yard and having a local agent friend show it. From Florida. That half is rented furnished and I include utilities.
Of course I am forced to fire this company once I find another solution.
My options:
- Keep LTR and hire another local PM company,
- Keep LTR and self-manage long distance,
- Provide to Section 8 but have older metal 1970's windows (but new front door and new central AC) so not sure it will pass inspection, and prefer not to wait the 45-60 days for it to be cleared,
- Furnish and convert to MTR. As for marketing it, Furnished Finders has not been as helpful as I had hoped.
Anyone have feedback, recommendations? TIA!!
PS - I also have a large detached garage on the property that has been sitting vacant. Access requires going through the yard, and is disruptive to tenants. Would need to put in a fence to divide the access.
