Two Other Key Reports You Should be Receiving from okc rental property management companies (Part 4)
This is the forth post in the series on reports that you should be getting from your property management company. In prior posts, I’ve talked about monthly itemized statements (financial progress report) and inspection reports okc rental property management companies should be providing for your rental properties. In this blog post, I’m going to talk about two specific types of reports, called “red flag” reports and vacancy reports.
“Red flag” reports, the first type, are bad news.
Here are the events that should trigger a report from okc rental property management companies.
For starters, okc rental property management companies need to make an immediate reports to their client (called “red flag” events) when one of these happen:
• If the okc rental property management companies file an eviction on a tenant,
• If the tenant gives us notice they are moving,
• When the oklahoma city property management companies note suspicious behavior that might be criminal in nature,
• When a repair will cost more than $200,
• If the tenant is clearly tearing up the property, or
• If there is some sort of common sense report that needs to be reported to the owner that needs to made immediately.
These are nice to establish, even if they don’t change the outcome. If nothing else, it prevents being blindsided.
When you have a vacancy on a property, okc rental property management companies should be providing you with a report of their progress in getting that vacancy filled.
A weekly report from the management team should include the following information:
• The number of contacts received (for example, calls from prospective tenants),
• How many times the property was shown, and
• The number of applications received.
Find out exactly where your property management company will advertise the property. Your property management company should be advertising your property on more than just craigslist.org, and there are many other advertising outlets for rental properties.
Questions? Call OKC Home Realty Services at 405-232-5800, or read more about OKC Property Management Services.
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