All Forum Posts by: Tracy Streich

Not a lot of options on the cheap.  Hvac is one of the biggest rental expenses.  If it is R22 I would not spend a lot of money on it.  Everything converting to 410a and r22 freon is skyrocketing in price 

We use Rently keyless. It is a little costly on the initial set up and has a monthly fee as well. You can also get thermostats that work on the same platform. 

Here is the problem with keys.  What keeps someone from making a copy.  We can set the time the code starts working and time and date it stops working.  Key boxes also have the glitch of relying on the tenant to put it back in the box.   We change the locks with new tenants on a regular rental.  All of the reasons we change those locks apply to our Airbnb rentals as well.  The main one being liability.  You never know the crazy person that might keep a key.  If someone returns with a key and assaults a new tenant, landlord did not change the lock.... you can guess how that story goes 

I am very active in the tulsa market. Give me a call this week and let me know what you are looking for.

If they are using the home as a group home that is a totally different issue. If is simply a couple looking to foster children the discussion should be over. It is clearly a violation of fair housing laws to discriminate based on familial status. It even specifically mentions foster and adoptive children. Especially comments about special children causing extensive damages. In fact as I type this now I find it a bit offensive that was even said. Not sure how they do it in Canada but that is blatantly discrimination based on HUD guidelines

Really depends on how good the deal is.  I would have the current owner get a lease in place prior to closing.   May be worth charging them a little less than market to keep them in the property.   What is the renovation cost if they move out?  If you are getting.  Even if the rent is less than market or market value I would get the lease in place even if it is just month to month.  Then you have documentation of the lease amount and terms you can enforce.  If it is month to month you can always just let them know at anytime you are not renewing the lease. Good luck

I suggest Derrick Scott with IMG in Tulsa.  He has a product specifically targeted to rental properties.    I saved about $2,500 annually on 11 homes.  

Fees can be negotiated.   However if you only have one house they are less likely to budge.   If you are an out of state having a trustworthy manager is way more important than the difference of 1-2% on management 

As the buyer you absolutely get the deposits from the seller. He should have the deposits in a separate escrow account. At closing make sure the security deposits, whatever amount stated in the lease is transferred to you. You then need to set up your own escrow account to hold the tenant's Deposit. Based on Oklahoma law deposits do not belong to the owner. You are just holding the tenants money until the final disposition of the deposit. If it is commingled with owner money this is a major red flag to the real estate commission. They current owner cannot keep the deposit or apply it towards his fees or rents because the tenant is still in the house. You will be the one deciding if the lease is broken and how much money to return to tenant.

Check the website for NARPM. National Association of Property Managers. They will have a list of independent PM's in your area. There should be several in your area

Check the website for NARPM. National Association of Property Managers. They will have a list of independent PM's in your area.