Property Management
An Oklahoma property manager should conduct regular property inspections to:
AInvade tenant privacy
BIdentify maintenance issues before they become costly problems, ensure lease compliance, and document property condition✓ Correct
CHarass tenants who pay late
DJustify rent increases
Explanation
Regular inspections (with proper advance notice under Oklahoma law) help property managers identify maintenance issues early, ensure lease compliance, document property condition for security deposit purposes, and maintain property value for the owner.
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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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