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How to transfer management from one oklahoma city rental property management company to another

May 22, 2012| 0 Comment

It should not be difficult to transfer management from one oklahoma city rental property management to another.  This article explains the three-simple steps you should follow.  Note that I’m not a lawyer, and none of this is legal advice.

When I’m working with someone to transfer management of their properties, there is sometimes confusion as to what needs to be done. Most of the time, the other company is professional and cooperative. However, this is not always the case.

#1 Give the oklahoma city rental property management currently under contract a notice of termination.

You should refer to your property management agreement as to termination of service. Find out how much notice you need you to give your property management company upon termination.  Request these items in the letter:

1) Ask them to transfer all physical items to either you, the owner, or the new oklahoma city rental property management company.  Those items include keys, copies of leases and other paperwork, and any other items that go with the property.
2) Ask the to give a complete accounting of all income and expenses to wind down the account. All security deposits and any funds due to the owner must be transferred.
3) You must include a clear-cut date of transfer.

#2 Follow up this letter with a phone call.

I would make the phone call the same day that you send the letter.

#3 Enter into a property management agreement with the new oklahoma city rental property management company.

You may want to refer to the article I have on this website about property management agreements so you don’t miss something.
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