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PRICING

Pricing should be simple, consistent, and straightforward. Say goodbye to feeling nickel and dime’d on fine-print expenses, inflated expenses from maintenance mark-ups, or finding fees snuck in unexpectedly. We charge for the work we do, that’s it.

MANAGEMENT FEE

10%

gross market rent billed monthly

+ additional $300 billed for inspections required by housing assistance agencies

Services Included

  • Onboarding: owner, property, tenant
  • Repairs and Maintenance: no markup
  • Bank Fees
  • Payment Processing Fees
  • Certified Mail
  • Eviction Processing
  • Property Inspections
  • Rent collection and delinquency follow up
  • Bill Payment
  • Account Reconciliation
  • Financial Reporting
  • 1099 Filing
  • Owner Communication
  • Tenant Communication
  • Vendor Communication: contractor, housing assistance, HOA, utilities
  • Utility Account Management
  • Handle HOA Issues
  • Handle City Notices
  • Archive Documentation for Owner and Tenant Access
PLACEMENT FEE

100%

one month’s rent billed at move in

+ additional $300 billed for leases with housing assistance agencies

Services Included

  • Coordinate Tenant Move Out
  • Turn On/Off All Utilities
  • Assess Damages at Move Out
  • Process Tenant Deposit
  • Create Makeready Scope of Work
  • Secure Makeready Estimates
  • Coordinate Makeready with Contractors
  • Schedule Deep Clean
  • Schedule Professional Photos
  • Weekly Vacancy Updates
  • Weekly Vacancy Check
  • List Property Online
  • Field Inquiries From Potential Tenants
  • Show Property Several Times Weekly
  • Screen Applicants, no application fee markup
  • Lease Signing Appointment
  • Coordinate Tenant Move In

Note: the $300 fee for placing a tenant through housing assistance is charged even in the event housing assistance eligibility is withdrawn after an applicant is approved.

Lease Renewal Fee

$300

billed at lease renewal

+ additional $300 billed for leases with housing assistance agencies

Services Included

  • Perform Market Analysis to Determine Market Rent Rate
  • Apply For Rent Increase, housing assistance only
  • Negotiate Renewal With Tenant
  • Renewal Signing Appointment
  • Archive Documentation for Owner and Tenant Access

SERVICE AREA

Our property management services are available to investors across the Oklahoma City Metro. 

COMMON QUESTIONS

Have a question you don’t see an answer for?
Feel free to email us at management@table.investments anytime. 

SCREENING AND LEASING

Screening

How do you screen applicants?
– Background Check: criminal records, evictions
– Credit Check: credit score, collections accounts, bankruptcies
– Rental Verification
– Review state court records: criminal records, evictions
– Income Verification

How long does it take to place a tenant?
Our average number of days on market is 17 (as of 01/2022).

Leasing

Do tenants pay pet fees?
Yes, tenants are required to pay $25/month for each pet they have.

Does the tenant pay their utilities and lawn care?
Generally tenants pay their own utilities and lawn care. There are exceptions to this, like multifamily properties where the utilities are not on separate meters.

Who is responsible for unpaid utilities?
Utilities are in the name of the person(s) occupying the property in Oklahoma. This means that investors aren’t stuck with hefty utility bills if a tenant doesn’t pay.

If the tenant breaks their lease will you waive the next placement fee?
If a tenant moves out for any reason in the first 90 days, we do not charge a placement fee when we secure a new tenant.

Where do you list properties for lease?
The property is syndicated to over 150 websites. This includes all the major sites like Zillow, Trulia, Rent.com, and Hotpads.

RENEWALS

What is your lease renewal process?
90 days before the end of the lease term we look at comparable rentals to determine if the property is leased at fair market rate. If the property is rented significantly below market value we discuss options with the owner. Otherwise, we proceed with renewing the lease with the tenant.

Do you increase rent annually?
Assuming the property is not well below market rate, the rent rate will remain the same if the tenant renews for another year. If the tenant becomes a month-to-month tenant their rent rate increases by $25/month. Note, if the tenant receives rental assistance we may apply for a rent increase before securing a renewal. Most agencies allow owners/management companies to apply for an increase once per year.

REPAIRS AND MAINTENANCE

Repair Process

What is your repair process?

  • Tenants submit repair requests to the portal.
  • We troubleshoot the repair with the tenant and secure estimates (if needed).
  • We follow the approval process before completing the repair:
    • If the repair costs more than $300, owner consent and full payment is required prior to completing the repair.
    • If the repair costs less than $300 we schedule work immediately.
  • We schedule all work with the contractor and tenant.
  • When the repair is complete invoices, photos, warranties and/or proof of work is uploaded to the owner portal.

Contractors

Do you negotiate discounts for the work?
We secure bulk discounts whenever possible. Preventative maintenance items are what get the biggest discounts.

Can I get a second estimate?
We secure multiple estimates when the repair amount is greater than $2,500.

Can I talk to the contractor?
Generally, the more people involved in a repair the more timeline suffers and misunderstandings occur. That said, you’re welcome to make calls to anyone you’d like!

Can I do my own repair?
Sure thing. We need to properly communicate/plan with the tenant, ensure the repair is done properly, upload documentation to the portal, and maintain boundaries with the tenant. If you’re fine with that, your maintenance coordinator is happy to schedule you to complete the repair.

Can I use my own contractor?
Probably! We’re always looking for more contractors. Send us their contact information so we can call and vet them. As long as they’re able to work within our systems we’re happy to add them to our roster of approved contractors.

Are your contractors in house?
For the most part we work with third party contractors.

Repair Approval

Who approves repairs? Can I approve all repairs?
Repairs > $300 require owner approval.
Repairs < $300 are approved by our team.
Emergency repairs are handled case-by-case.

What happens if a repair is needed and you cannot get ahold of me?
If we are not able to get ahold of you, we make a judgement call based on the severity of the situation. Sometimes we will approve a repair, other times we will offer the tenant a rent credit. After 14 days, the Landlord Tenant Act may require us to allow the tenant to break their lease and receive their deposit back in full.

What is an emergency repair? What do you do if it’s the middle of the night?
Emergency repairs are authorized without owner approval when tenant safety is at risk or when property condition is rapidly deteriorating. We generally approve work to prevent the issue from getting worse. For example, if there is a plumbing issue causing flooding we may approve a service call to shut off the water, pump water from the flooded area, and install fans to dry out the area and prevent mold growth.

How do I know when a repair is complete?
The portal shows the status of each work order.

Required Maintenance and Inspections

Are there any repairs or improvements you require owners to make?
Generally speaking, we require repairs needed to make homes to be safe and habitable.

A note on slum lording- 
The effort you put into your home is seen by your tenant and will be met in kind. We’re happy to take on “rougher” properties and get them stabilized, but we don’t take on rough properties if the owner doesn’t want to improve condition. If your management philosophy borders slum lording we aren’t a good team for you.

MANAGEMENT AGREEMENT

Can we modify the management agreement?
No. Our systems and processes are guided by the paperwork we have in place. If we modify the management agreement, we have to operate off memory instead of those systems. This allows room for errors, non-compliance, and poor follow through.

Why do you require a 12 month initial term?
Retaining our management services is a big commitment for our team and you. A year commitment is a way for us to ensure the decision is considered thoughtfully.

Why do you require 90 day termination notice?
90 days termination gives our team time to close out work orders, transfer utilities, make changes to portal access, pay final bills, and prepare documentation/deposits.

MOVE OUTS AND EVICTIONS

Move Outs

How do tenant move outs work?
Tenants are required to give our team a written 30 day notice of their intent to vacate.  They are required to bring their keys to our office the day of their move out. Our team begins working on the makeready as soon as we have their keys.

When can I give a tenant notice to vacate?
You are able to give tenant a 30 day notice to vacate at the end of the lease term, if the tenant is on month to month terms, or if they are a tenant at-will.

Evictions

What is the eviction process?
We made a blog post for you that outlines the eviction process and common expenses. Check it out here.

How much does an eviction cost?
Typically ~$500.

Do you charge an eviction fee?
No.

Do you charge an eviction processing fee?
We do not charge an eviction fee. All court, sheriff, and state clerical fees are paid by the owner. If our preferred processors are unavailable to attend court, the property manager will attend for the same rate a processor charges.

COMMUNICATION AND PORTAL

How do you communicate with me?
Most communication happens in the portal, and via automated emails. We’re always happy to jump on a call when requested.

How fast will you get back with me?
Under normal conditions we respond to all phone calls and emails within 24 hours. Our work is cyclical so there will be times we may take more time to respond.

Who do I talk to?
Your property manager (and occasionally your maintenance coordinator). We break the traditional model of a department-based company. We operate in pods instead. Your pod is made up of your property manager, maintenance coordinator and assistant property manager. All three work together to manage your portfolio.

Will you call/email me before you _____?
You will receive an automated email at important milestones! All other information is available in your portal.

The portals cool, but I’d rather you just call me if that’s not too much to ask.
We are always happy to jump on a phone call at your request. Our default method of communication is the portal. We leverage technology to get you information in real time. It allows us to remain logistically sound and keep your fees low.

REPORTS AND DOCUMENTS

What reports will I get?
We distribute a general ledger monthly, a YTD general ledger, and a 1099 annually.

Where are my financial reports?
This can be found in Google Drive in the folder labeled “Tax Documents (1099s) and Financials.” We upload your financial statement, all bills, and 1099s to one place to make it easy for you/your bookkeeper to get all you need.

What documentation can I access?
All documentation we have is accessible: leases, management agreements, tenant notices, bills, reports, etc.

MONEY: BILLS AND OWNER PAYMENTS

Paying For Repairs and Bills

Why do you require payment for repairs up front?
We pay our vendors every Friday for work complete. To honor this commitment we must have the money in our escrow account to do so. Otherwise we have to pay for the repair ourselves, or (illegally) use funds in the escrow account that don’t belong to you. Since we don’t want to break the law or finance your repairs, we require payment up front.

Can I put a limit on total expenses incurred monthly? I am worried about multiple repairs under $300.00 adding up?
We will not reach out to you for approval for repairs under $300. However, you will be notified of every repair that is submitted and can monitor progress in the portal. If you have questions you’re welcome to message us!

Who pays for tenant caused damages?
If a tenant causes damage to the property we perform repairs and submit payment like normal. Then we will send a notice to the tenant that they are required to pay this back to you.

Will you pay my HOA bill?
We do not make HOA payments at this time.

Will you pay my insurance bill?
We do not make insurance payments at this time.

Will you pay my mortgage ?
We do not make mortgage payments at this time.

Will you pay my property taxes?
We do not make property tax payments at this time.

Owner Payments

When will I get paid?
We reconcile all accounts, publish all reports, and process all payments by the 10th of the month. Depending on your bank it can take 1-7 days for these funds to show up in your account.

How do you pay me?
ACH direct deposit

Why do you hold a reserve?
We hold $300 per unit in an escrow account to allow our team to handle small repairs, utilities, and lawn care.

How can I send my owner contribution?
we accept ACH, Check, Wire

Where can I see individual transactions? 
The General Ledger in your Google Drive folder allows you to see each transaction associated with your properties.

Where can I see my bills, invoices, and receipts?
All financial documentation is uploaded to Google Drive.

My bookkeeper has questions, can you answer them? 
Yes, we sure can! Send an email introducing us, we can take it from there!

I got an invoice, does this mean I owe you money? 
Yes! If we need money from you, we will send you an invoice to pay. If you don’t have an invoice, you don’t owe us anything!

I got an email from Bill.com. What is this?
Bill.com its the company that processes payments. You may get an email from them notifying you that you’ve been set up or if you’ve been paid. You don’t need to do anything with this!

MONEY: OUR FEES

Why am I paying 10% during vacancy on top of a placement fee?
During vacancy we are working. Whether the property is listed for lease, listed for sale, or not listed at all. Whether the property is undergoing repairs or not. We are paying utilities, creating reports, checking on the property weekly, negotiating with contractors, etc.

Other managers only collect fees if they collect rent. It incentivizes them. Why do you charge 10% even if you don’t collect rent?
During delinquency, we are still working. We are paying bills, creating reports, handling repairs, following up with tenants 3x per week, collecting partial payments, updating your portal, navigating challenges with the courts and Cares Act. 

Why do you retain the late fee?
This isn’t a revenue driver for us, it’s for efficiency. We realized that the income from late fees was almost the exact same as the costs for certified mail, payment processing, and bank changes. We decided to retain the late fee, and in exchange cover those costs. Income is a wash, but by not having to pass these expenses to the owner it has saved us several hours each month that we can now use to better take care of the tenants and properties.

Why do you charge a project management fee?
Honestly, we usually don’t. That is included in our management agreement because clients often ask us to handle full scale rehabs, properties declared condemned, new construction projects, etc. If projects are beyond the scope of a normal project we may approach you about your options for project management.

Why do you charge extra for housing assistance?
We charge when we work, plain and simple. Housing assistance agencies demand a lot of extra time and effort. See the “housing assistance” tab for additional information about the workload involved with leasing through housing assistance agencies.

MAKEREADIES

What is your makeready process?

  • When a property becomes vacant we perform a walkthrough and review market conditions to identify where performance can improve.
  • We present suggested repairs to the owner in three categories:
    • Must Do: items critical to maintaining current rent rate
    • Can Do: items which will allow an increase in the rent rate
    • Preventative: deferred maintenance items
  • We review the scope of work with the owner and strategize next steps.
  • We obtain estimates.
  • We work with the owner to review the estimate(s) and finalize the scope of work.
  • We collect payment from the owner.
  • We schedule work with the contractor and tenant.
  • We pay contractors when work is complete.
  • When the repair is complete invoices, photos, warranties and/or proof of work is uploaded to the owner portal.

Why do you do weekly checks during vacancy?
We check on the property for makeready progress, preventing squatters, damages, trash, lawn care, and to drip faucets during freezing temperatures.

HOUSING ASSISTANCE

Should I accept tenants who are receiving housing assistance?
We can’t answer that for you, but we can point you in the direction of a blog we wrote that outlines pros/cons. Check it out here.

Which agencies do you work with?
Oklahoma Housing Finance Agency, Oklahoma City Housing Authority, Veterans Affairs, Homeless Alliance, Independent Opportunities

How do you screen tenants who receive housing assistance?
Housing assistance applicants are subject to the same application and screening process as private pay applicants.

How much longer does it take to place a tenant through a housing assistance agency?
4+ weeks: Additional work includes advertising, application paperwork, coordinating the inspection, handling the rushed repairs, reinspection, and the approval paperwork.

How much longer does it take to secure a lease renewal through a housing assistance agency?
8+ weeks: Additional work includes 90 days prior to renewal we apply for a rent rate increase and follow up regularly until we receive confirmation. Then we secure a renewal with the tenant and file paperwork with the agency for compliance.

How do inspections work for housing assistance agencies?
Most housing agencies require annual inspections. The inspection process can take 4+ weeks to complete. Our team receives notice of the inspection, coordinates the inspection with the tenant, coordinates rushed repairs, and coordinates the reinspection with the agency.

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Office Address

300 NW 61st St. Suite 205
Oklahoma City, OK 73118

Mailing Address

PO Box 18463
Oklahoma City, OK 73154