At OKC Homes 4 You we like to be very transparent with our fees. Below is a breakdown of the services we provide and the costs associated with them.
Our Management Agreement will get you full access to our Property Management Services. With the Agreement we have 4 basic fees:
- Management Fee: When the property is leased we will receive 10% of the monthly rent.
- Leasing Bonus Fee: When a new tenant moves into your property, we will get either 25% of the first full month’s rent or $150, whichever is greater.
- Minimum Monthly Management Fee: Beginning the first full month the property is vacant and continuing until the first rent paying month of a new tenant, the Management Fee will be reduced to $25 per month.
- Lease Renewal Fee: Each time a tenant in a Property renews or extends a lease, there will be a renewal fee of $75.
Note: You will not be charged a minimum monthly management fee and management fee in the same month.
Lease Only Service:
With our Lease Only Service you will get the same marketing, tenant screening, and lease creation service we provide with our Property Management Service but once a new lease is signed, we turn the property back over to you. For this service we charge 50% of one full month’s rent.
If you would like to sell your property with us, we would be more than happy to make a listing agreement with you. Any commissions or fees for this service will be negotiated with the listing agreement.
If you want us to manage your property and intend to do major renovations or reconstruction but don’t want to deal with hiring vendors and checking up on the work yourself, we can help with this. Since that goes above the scope of normal property management, we will be paid 2% of the total cost of repairs/improvements for any improvements in excess of $8000.