Property Management
A full-service property management company in Oklahoma typically provides which services?
AOnly rent collection
BTenant leasing, rent collection, maintenance coordination, accounting/reporting, and eviction processing✓ Correct
CLegal representation in court only
DMortgage servicing for the owner
Explanation
Full-service property management companies typically handle all aspects of managing a rental property including marketing/leasing, tenant screening, rent collection, maintenance coordination, financial reporting, and if necessary, managing the eviction process.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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