Property Management FAQs
Braden Group Property Management FAQs
Braden Group is a licensed, full-service property management and tenant placement company with more than a decade of experience owning and managing properties. Braden Group is here to partner with you for all your property management needs, at every step of the way.
We assist with:
- A free rental analysis of your property to ensure you are positioned to receive the best possible return for your investment
- The myriad maintenance and care responsibilities associated with managing residential properties
- Serving as the liaison between you (the property owner) and the tenant
- Keeping your rental properties properly maintained and occupied with qualified, happy tenants
Our tenant services include:
- Tenant screening and applications
- Rent and security deposit collection
- Rental agreements, lease preparation, signing, and renewals
- Property inspections
- Conflict resolution, including HOA regulation and rule enforcement
- Lease management
Our maintenance services include:
- Emergency and routine repair request services
- Professional cleaning, inspections, and maintenance
Braden Group also offers marketing services for your rental property, such as:
- Marketing
- Guided property tours, if needed, and self guided tours
- Adherence with local regulations
Braden Group specializes in managing 1-4 unit single-family properties, including single family homes, duplexes, triplexes, and 4-plexes, as well as townhouses and condos.
A well-kept property ensures your property retains its value and remains occupied with quality, satisfied tenants. Braden Group’s property management services include a team of local, trusted vendors capable of handling all tenant repair requests and tickets, as well as routine and preventative maintenance, quickly and professionally. We guarantee a response time of fewer than 48 hours for most repair requests and 24-hour emergency service, and requests can be submitted 24/7 via our online tenant portal.
Braden Group also offers professional cleaning, inspection, and maintenance of your property, extending the life of your investment, encouraging tenant retention, and ensuring your property looks and feels new to every tenant.
As a local company with local connections, Braden Group has established relationships with a robust network of contractors who can help your property meet the legal, maintenance, and renovations needs it demands to stay profitable. We can catch red flags like tenant concerns or poor property conditions before they become bigger problems, ensure your property is always up-to-date with changing code regulations, and stays attractive and on-trend with refreshes and upgrades.
Tenant screen is one of the most important aspects of property rental, but it is also one of the most tedious and time-consuming. While a vacant property isn’t producing any revenue, rushing to put just any tenant in it could end up costing you in the future. Good tenants take care of the property, pay their rent on time, pay any additional bills they are responsible for, and maintain good communication if there are any problems with the property.
Braden Group’s thorough tenant screening process includes:
- Setting reasonable expectations and minimum application requirements for potential renters, such as minimum income level, credit score, or employment history
- Application pre-screening, to gather detailed information on employment, financial history, references, and renter or residential history
- Credit check
- Background check
- Verification of income, employment, and application information
- Tenant interview
We also understand how to navigate the legal requirements for rental properties and know which regulations may apply to your unique situation, such as the Fair Housing Act and state and local fair housing laws, as well as credit reporting rules. This ensures all applicants are treated fairly and equally, without discrimination or unfair behavior.
By placing qualified, responsible tenants in your properties, Braden Group’s tenant screening protocols help protect you, your property, and your investment.
At Braden Group, you can expect fees such as:
- Setup fee, a one-time flat fee to set up your account with the company. It will include getting your account set up in the property management software and setting up E-pay for your tenants.
- General consulting fee, also known as a management fee, which is a flat fee of $119 or $178 depending on if you are a Group A or B client.
- Maintenance coordination is included with your consulting fee and maintenance costs are passed through to the owner at cost.
- Braden Group keeps late fees, application fees, administration fees and e-check fees, all paid by the tenants.
- Owners receive pet fees from the tenant.
Braden Group provides tenants with several safe, secure, and easy ways to pay their rent, giving them the option to use cash payments, debit or credit cards, and ACH.
With our innovative property management software, we can:
- Send rent reminders via text, app, or email
- Automatically generate late fees
- Help tenants set up automatic payments
- Direct deposit into your account
- Track payment history
Using our online property management dashboard, you can see at a glance which properties have paid, which haven’t, and if there are any overdue. You can also easily filter, sort, create reports, and export data for your accounting and financial reporting needs. Tenants can track their payment status as well via the tenant portal, where they can also make direct online payments.
At Braden Group, we take being local seriously, and we are always willing to work with your tenants to find the best solution possible for seamless, on-time rent payment. We approach rent collection personally and professionally to encourage efficient, reliable transactions and keep your income stream steady.
As a trained and experienced property management company, Braden Group can serve as a liaison and/or a neutral third party to help mediate and resolve conflicts and disputes between property owners and tenants without legal involvement. They can also manage disputes or problems directly through effective communication and lease enforcement, and they know when a situation needs to be escalated into a court.
The majority of tenant disputes or issues can be avoided with a good lease agreement and good tenant relationships. Braden Group offers the legal expertise and deep knowledge of the rental property industry necessary to prepare and enforce solid rental agreements you can stand by as well as conduct the in-depth tenant screening necessary to minimize risk. And, by responding to maintenance repair issues promptly, maintaining professional communication with tenants, ensuring compliance with local laws and regulations, and handling evictions where necessary, Braden Group can help take the stress out of rental properties and preserve your investment.
Getting started with Braden Group’s property management services is as simple as becoming a Braden Group member by completing our exclusive Real Estate Investment Class. This 11-week course is led by Braden Group CEO Trent Braden and is designed to provide you with everything you need to get started and stay successful in real estate investment, including sessions on financing, property management, asset protection, and taxes.
However, Braden Group is currently waiving the Real Estate Investment Class requirement and offering property management services and Braden Group membership to new clients who own a minimum of 5 properties. The Real Estate Investment Class will be required, however, if you choose to use Braden Group to grow your property investment portfolio.
Braden Group is an Oklahoma company serving Oklahomans. Our team of experts has decades of experience helping clients manage their rental properties and maximize their investment return.
Braden Group provides property management services for properties in and around the Oklahoma City metro area, including Yukon, Norman, Edmond, Moore, Mustang, Midwest City, Del City, Shawnee, El Reno, and Guthrie.
General Property Management FAQs
The primary purposes of property management are to handle the day-to-day operations of a rental property–such as maintenance and financial reporting–and to manage tenant relationships. Within these two primary tasks are a variety of other responsibilities, including:
- Screening rental applicants
- Marketing and filling vacant properties
- Financial recordkeeping
- Collecting rent and depositing it to the property owner (if separate from the property manager)
- Drafting, signing, renewing, and enforcing lease agreements
- Coordinating repairs, maintenance, and upgrades
Property management can be conducted by the property owner or by a management company. Third-party property management can allow you to invest in rental property even if you don’t live in that area.
The purpose of a property management company is to protect you–the property owner–and your property by maintaining the property and handling tenant relationships, saving you time, headaches, money, and potential legal problems.
When you hire a property management company, you are essentially delegating all of the responsibilities that come with managing a rental property to a team of professionals who have a lot of experience doing it. While this may be your first rental property–complete with plenty of unknowns, headaches, and unexpected expenses–a property management company may manage dozens or even hundreds of rental properties, giving them unique insight into ways to streamline myriad management tasks, optimize occupancy and property value, and maximize your return.
Most property management companies will require a long-term contract in order to secure and retain their services, and contracts can range from one to five years, but can be longer or shorter, depending on the specific situations. The contract should clearly explain the responsibilities of the property manager and the property owner, and should include information such as:
- The terms and period of the contract
- The authority and powers that are given by the owner to the property management company
- The policies that are relevant to managing the property
- Management and maintenance fees
Unfortunately, despite the best and most thorough tenant screening and application process, some tenants just don’t work out for your property. If an eviction of your property is necessary for any reason, you need to have a good understanding of the legal process you’ll need to follow, as well as the legal rights of you and your tenant. It’s your responsibility as the property owner to be aware of legal protocols for protecting your property, your tenant’s rights, and you.
Local professional property management companies like Braden Group have a thorough understanding of city, county, and state requirements for terminating a lease and evicting tenants, and they have the time and resources to make sure you are following everything to the letter. Property management companies can help you navigate the common but complicated process of eviction with confidence.
First and foremost, your property management company should have all of the necessary real estate licenses, certifications, and insurance policies required for your state, and they should have plenty of experience in managing different types of properties. They should have a good reputation in the community where your rental property is (if it isn’t where you live) and they should be in good standing with vendors and contractors in the area. Other things to look for in a good property management company include:
- Efficient systems and good processes for things like rent collection and communication
- Low vacancy rates
- A large client base
- Detailed, transparent contracts that clearly explain roles and responsibilities
- Good customer service
- A team of professionals dedicated property management activities
Ideally, your property management company should be locally owned, which benefits you, your tenants, and your property. Local companies often have an extensive network of trusted professionals and vendors ready to help with prompt property maintenance and repair, as well as reputable real estate connections who understand the local market and can access a large pool of qualified tenants Local property management companies are familiar with local codes and regulations and can provide in-person property management if you don’t live nearby.
Property management companies will typically determine the appropriate rental rates for your property by evaluating several comparable properties near yours and the average price per square foot for comparable properties. From there, the management company will provide an estimated rent range.
Braden Group will establish a rental schedule designed to produce the highest return on your investment consistent with the current economics, good faith, and the local market. We look at factors such as the character and value of your property; the amenities of the neighborhood; population growth trends; and growth of and expansion of the community when determining the rental rates.
Property management companies like Braden Group handle lease agreements and renewals as part of their tenant services. They can also assist with other lease or rental agreement tasks like:
- Lease preparation and updates
- Lease extension and renewals
- Lease enforcement
- Online payment collection
- Written lease-end plans and/or notice to vacate
- Dispute resolution
- Eviction services
By using a property management company like Braden Group to handle your lease agreements and renewals, you can be sure that the legal aspects of your rental property are being handled professionally, efficiently, and accurately, especially if the lease is ending on a bad note or with an eviction.
Yes. The money you pay to a property management company for their services managing your rental property can be counted as rental business expenses on your taxes. Other rental business expenses you may be able to claim on your tax deductions include landscaping or maintenance work, property repairs, premiums for insurance policies, legal fees, and travel related to property repairs. Make sure you keep all receipts, communication, and bills associated with your rental property for documentation purposes.
**Please note: this is not a substitute for professional tax advice. If you have questions on how to report fees, income, or other expenses related to your rental properties on your taxes, please consult a tax professional.
Property management and asset management are both ways in which a professional company can help you manage your wealth and maximize the ROI on investments you’ve made. However, they differ in their scope of how that’s done.
Asset management is a broad term for managing assets, or anything of value, whether tangible (like property) or intangible (like licenses, rights, or patents), and specifically in increasing the total worth of a person or company through the buying, selling, and improvement of those assets.
Property is an asset because it typically has a monetary value, so it can technically fall under asset management, and the management of property (property management) is intended to improve the value of that asset and increase the worth of the investment. However, property management itself is more narrowly focused only on the day-to-day tenant, legal, financial, and maintenance services required to operate a rental property.
Braden Group offers both property management and asset management services to our members. Whether you need to help keeping your rental occupied with tenants and in tip-top shape, or you’re interested in building and improving a larger real estate investment portfolio, Braden Group has the industry-leading resources, education opportunities, and experts you need to make the most of your money.