In the heart of the vibrant metropolis of Oklahoma City lies a beacon of innovation and excellence in property management: Camber Properties. As the premier choice for property management solutions in Oklahoma City, Camber Properties is revolutionizing the industry with their unparalleled commitment to efficiency, transparency, and customer satisfaction. Whether you're a property owner seeking stress-free management or a tenant searching for your dream home, Camber Properties has you covered. Let's delve into how Camber Properties is reshaping the landscape of property management in Oklahoma City. A Trusted Partner in Property Management Owning and managing rental properties can be a daunting task, especially in a bustling city like Oklahoma City. From tenant screening and rent collection to maintenance and legal compliance, the responsibilities can quickly become overwhelming. This is where Camber Properties steps in as a trusted partner, offering comprehensive property management services tailored to meet the unique needs of each client. Expertise in Oklahoma City Real Estate Market With years of experience in the Oklahoma City real estate market, Camber Properties boasts an in-depth understanding of local trends, regulations, and market dynamics. Whether you own a single-family home, multi-unit apartment complex, or commercial property, their team of seasoned professionals has the expertise to maximize the value of your investment and optimize your rental income. Comprehensive Property Management Solutions At Camber Properties, they believe in providing end-to-end solutions that cover every aspect of property management. From marketing and tenant acquisition to maintenance and financial reporting, they handle it all with utmost professionalism and attention to detail. Here's a glimpse into their comprehensive suite of services: Property Marketing and Tenant Screening : Utilizing cutting-edge marketing strategies and platforms, Camber Properties ensures maximum visibility for your rental property, attracting high-quality tenants. Their rigorous screening process evaluates potential tenants' creditworthiness, rental history, and background, minimizing the risk of late payments or property damage. Rent Collection and Financial Management : Say goodbye to chasing tenants for rent payments – Camber Properties handles rent collection and financial management with precision and efficiency. With secure online payment options and timely disbursements, they make the rental income process seamless and hassle-free for property owners. Property Maintenance and Repairs : From routine maintenance tasks to emergency repairs, Camber Properties has a network of trusted vendors and contractors ready to address any issues promptly. Their proactive approach to maintenance ensures that properties are well-maintained, preserving their value and enhancing tenant satisfaction. Legal Compliance and Risk Management : Navigating the complex landscape of landlord-tenant laws and regulations can be daunting. Camber Properties stays up-to-date with all legal requirements and ensures that your property remains compliant, minimizing the risk of potential liabilities and disputes. Transparent Communication and Client Satisfaction At the core of Camber Properties' philosophy is a commitment to transparency, integrity, and superior customer service. They understand that open communication is the key to a successful partnership, which is why they keep clients informed every step of the way. From monthly financial statements to regular property inspections, they provide comprehensive reports and updates, giving property owners peace of mind and confidence in their investment. Testimonials Speak Louder than Words Don't just take our word for it – hear what satisfied clients have to say about their experience with Camber Properties: "I've been working with Camber Properties for several years now, and I couldn't be happier with their service. They've helped me maximize my rental income while minimizing headaches and hassles. Their professionalism, attention to detail, and commitment to customer satisfaction are unmatched." - John Doe, Property Owner "Camber Properties helped me find the perfect rental home in Oklahoma City. From the initial inquiry to the move-in process, they were responsive, helpful, and attentive to my needs. I highly recommend them to anyone looking for top-notch property management services." - Jane Smith, Tenant Conclusion: Elevate Your Property Management Experience with Camber Properties In conclusion, Camber Properties is setting the standard for excellence in property management in Oklahoma City. With their expertise, professionalism, and commitment to customer satisfaction, they provide property owners and tenants alike with a superior experience that exceeds expectations. Whether you're looking to maximize the return on your investment or find your dream rental home, Camber Properties is your trusted partner every step of the way. Experience the difference with Camber Properties and unlock the full potential of your real estate investment in Oklahoma City.

I t’s that time again, time for end of the year reports and forms. Below are some terms we commonly get asked what they mean, how it was calculated so we thought we would share it with everyone to hopefully answer any questions you may have. Pre-paid rent: what exactly is this? It is advance rent that your tenant pays prior to it being due. The most common instance of this happening is when a tenant pays January rent early in December. While it is great that you have an early paying tenant, it will bring up questions when it comes time to file taxes. For one, when you get your end of year cash flow report from Camber, you will look at income, expense and then scroll down to other items. Any pre-paid rent will be listed under this category. Then when you receive your 1099, the amount will reflect the total of income and any pre-paid rent, as pre-paid rent is taxable income to you in the year it was received not the year in which it was disbursed. Hopefully, this helps and if you have any questions on this, please don't hesitate to reach out to us and we can discuss things further. Thank you and happy new year!

Until recently, rental payments to your landlord didn’t have an impact on your application for a mortgage, but Fannie Mae is looking to change that. Fannie Mae is the federally backed institution that purchases mortgages from banks and other financial institutions that evaluate and underwrite potential borrowers. Essentially, they set many of the standards for what data matters and who qualifies for a mortgage. They have announced that they now plan to review an applicant’s rental payment history and taking it into account during their review process for granting a loan. This will have the largest impact for tenants who otherwise would not have a robust credit history. According to the Consumer Financial Protection Bureau roughly 20% of American adults have no or limited credit history, potentially there are millions of people within the US that would benefit from this expanded review. Currently less than 1% of the data that is sent to the credit bureaus are related to rental payments, this could be because currently landlords must submit reports directly to the credit bureaus. Fannie Mae however is looking at alternative ways of submission instead of relying solely on landlords providing the information to the credit bureaus. This could include showing proof of payments thru bank statements or other sources that can be validated. At Camber we will continue to evolve our processes to ensure that the tenants making on time rental payments on our homes are recognized through this system. On the other side of the coin, the tenants that fail to pay or do not pay in a timely manner pursuant to their lease, it will shine a light for future landlords and have effects on their abilities to secure a mortgage. As times continue to change, especially with COVID-19, and the evolution of lifestyles, it is encouraging to see that lenders are beginning to look at the whole picture when analyzing applicants as a large portion of our population rents at one point or another before choosing home ownership. So in a nutshell, on time rental payments are not just important to your current landlord, it could affect your ability to secure a mortgage in the future. 

I have been managing properties for 15 years and have seen several trends hit the real estate market over that time, but I have experienced nothing like what we have seen in the last 12-18 months in terms of the supply and demand for rental homes. Similar to the sales market, the leasing market is on fire, there are multiple applications for properties, rents are increasing, and people are choosing to renew versus moving. Depending on whether you are a landlord or a potential tenant, the current market is either really exciting or extremely frustrating. From what our team has seen, we have compiled some things that will help you navigate this new rental market more successfully. Tenants - How do you make your application stand out so you get selected over the competition? When you find a property you like, get your application in ASAP and make sure you have provided ALL information required. A non complete application that is missing any of the required items will slow the process and could potentially miss the window for owner presentation/consideration. Time is truly of the essence when applying in a market that is moving so quickly. Understand that very much like those purchasing homes, there will normally be multiple applications. Come in strong and be ready for some competition. Be honest and transparent during the application process, most companies are going to run a credit, criminal, rental/mortgage history and income review. If there are any issues on any of these items, understand it could impact your application and best to disclose up front so we can discuss options vs after the fact. Be flexible on your move in date. If a home is available on the 1st but you can't move in until the 28th, understand this will greatly affect your chances of being selected because there could be a similar application to yours that could move in when it becomes available which is important to landlords. Offer to do a 24 month lease vs a 12 month lease. When reviewing very similar caliber of applications, landlords typically will go with the longer term lease. Offer to pay a higher rate of rent per month. Landlords - How can you capitalize on this market? Make sure your property is rent ready, so it shows well and will attract good quality tenants. While supply/demand is on your side, there are still options available to potential tenants. Be responsive and ready to select an application quickly. It is a competitive market right now and as such we are seeing potential tenants putting applications in on multiple properties to enhance their chance of being approved for a property. If you wait too long to select, the strongest application will normally have been approved on another property and be in the finalization process elsewhere, so time is critical on both sides. Be selective. This is a good time to look for a longer-term tenant option. Encouraging a 24 month lease could be a win/win for both parties. You get a longer term tenant and the applicant(s) gets to lock in today's rental rate for 2 years vs 1 as rent does historically tend to increase year over year. If you have any further questions on how to navigate this "NEW" rental market, please contact us at Camber and we would be happy to assist.

In Spring 2020, as we began to see how serious Covid-19 was and we all became familiar with the term pandemic, I was very concerned. I was worried not only for my clients, but also for myself as a fellow investor. The questions of will tenants be able to pay rent, will we still be able to lease properties? Would our investors’ properties still be able to cash flow and appreciate? There was so much uncertainty in our world, that I really didn’t know how bad this would get. In terms of impact, the OKC metro area was extremely fortunate in that single family homes, duplexes and quadplexes didn’t see the projected drop, it was larger multi-family condos and apartments that were more negatively impacted. Why is this? I think there were several reasons. 1. The single family product became very attractive. With so many people spending increased amounts of time at home, the demand for more square footage, private laundry, outdoor entertaining areas and backyards increased. The fear of sharing space with so many others was also real. Most of our local moves were tenants of urban style and large multi family properties to single family style neighborhoods in suburban towns. 2. Will tenants pay rent? From the beginning of the pandemic to present, we have had zero evictions, we were fortunate enough to not even have to file on any tenants. While we normally have low rates of eviction due to our thorough vetting process, we had even lower numbers during Covid vs pre-pandemic. This isn’t to say that we didn’t have tenants that couldn’t pay rent. One of the hallmarks of my company and the way we do business is that we find the best solution for everyone. For example, if a tenant truly can’t pay rent, the best thing is to help the tenant to end their lease and vacate the property. This allows us to get a new paying tenant in quickly, sometimes so quickly that the former tenants were able to get some of their deposit back. A win-win in my book. The owner was made whole on most occasions and the former tenant didn’t have an eviction on their record, because let’s be honest, these times have been extremely tough on so many by factors that are completely outside of their control. 3. Tenant Retention. We have seen a dramatic increase in tenant renewals and at higher rates. This coupled with low inventory, our ability to be even more selective in the tenant placement process and greater demand for these types of homes will create scarcity. If this continues, we should see investor returns skyrocket as rents and home values continue to climb even higher. Which is exactly what you want to see in your single family home investments. 4. Influx of people moving to smaller cities and less restrictive states. We have seen an increase in the number of tenants that are moving from out of state. With so many businesses and people operating and working from home the need to be close to an office was no longer a huge factor. This has been a tremendous boost for our market to have so many new prospective tenants and homebuyers. While I don’t have a crystal ball, there is so much to be grateful for and to be encouraged by for the future of the rental market in the OKC metro area. I would be happy to discuss in greater detail why this market should be on the top of your list for investment opportunities should you be interested.

The definition of a "vacant" property can vary from carrier to carrier so I will start by urging you to either consult your agent or your policy to determine the parameters of your individual contract. Most companies will deem a property vacant after a period of 30 to 60 CONSECUTIVE days of being uninhabited. Once a property has been determined to be vacant, there is an outline as to reductions of coverage or even removal of coverage. Specific coverage that may be listed or deleted are: -Water -Vandalism/Malicious Mischief -Theft -Glass Breakage For instance, one policy we reviewed removed ALL water damage coverage after being vacant for 60 days. This same policy reduced all other covered losses (wind, hail, fire, etc.) by 15% if vacant at the time of loss. On the other hand, another carrier states that coverage listed on the declarations page is reduced to 60% if vacant for 30 days or more, period. So what do you do? If you know a property will be vacant for a period of time, THAT IS OKAY! There are carriers that will provide coverage on a vacant property, typically at a higher rate, so that remodels, repairs, etc. can be made without the worry of a reduction in coverage. There are carriers out there that by just a quick call to your agent can be switched to "Vacant" policy as fast as a light is turned on. Policies can be written on temporary basis such as 3, 6 and even 9 month terms and there are many different options as long as you are proactive. Like I said, consult you insurance agent and make sure you have an understanding of your policies so when it comes time to file a claim no one is in the dark and vacancy clauses are one item that investors may not think of until a situation comes up. At Camber we have trusted insurance agents we work with that specialize in investment properties so please feel free to reach out to us directly if need any help reaching a like minded agent that can assist with your investment property.

One of the most common mistakes we see with investor property owners is underestimating the importance of tenant retention. As someone who has been managing investment properties for over 12 years and a fellow investor, turnover is the biggest expense an investor can incur. Contrary to popular belief, turnover outpaces routine repairs or maintenance, fees paid to your property manager or even property taxes in terms of cost. Every time a home is vacant it is real money lost that you can never recoup. Lost rent, utilities, make ready costs, leasing/marketing fees and the often-overlooked risks that come with having a vacant home. 3 Ways To Minimize Turnover: Placing the right tenant for your property Seems simple but it’s truly an art form. While prospective tenants with 800 credit scores are traditionally safe and look great, there are some negatives. Tenants with great credit soon become home buyers. We prefer to look at the whole picture. For example, Tenant A has great credit, stable income, excellent mortgage history and is coming in with a job transfer. Tenant B has a much lower credit score due to say…unpaid medical bills but does possess good income and long term rental history. Tenant A looks like an easy choice, right? Not necessarily…we would most likely recommend Tenant B (with an additional deposit). The reasons are Tenant B will struggle to buy a home soon. Also, they have excellent income with a long history of renting. Through tracking our tenant compliance and longevity, we have learned that prospects like Tenant B not only stay years longer on average, they actually have a lower lease default rate. Attentive, Concerned, Communication and Responsive Long term, good tenants expect this. Might seem obvious but it takes an excellent process, well trained, motivated staff and vendors to meet the expectations of today’s tenants. At Camber, we have a great recipe for tenant success while still working for our investors to keep total cost of ownership to a minimum. Tailored Renewal Strategy I often see property managers or investors approaching renewals two ways: They either fail to send them out, allowing tenants to auto-roll month to month at the same rent rate, or they fail to consider all factors before offering a lease extension. At Camber, we look at each home focusing on retaining your tenant and evaluating rental rates. Through preparation and analysis of market conditions, we systematically send fair and reasonable lease renewal offers to your tenants. We also consider the following during our review: · What would we realistically get in rent on re-lease? · How long would it take to secure a new qualified tenant? · Turnover costs? · We also review the current tenant’s payment history and how they have cared for your property. Our experience has shown that a combination of all these factors contributes to successfully renewing your tenants. At Camber, our core strengths always include matching the proper tenant to your property, ensuring your tenants have an excellent rental experience and working tirelessly towards meeting your goals for the property and keeping your total cost of ownership to a minimum.

In the heart of the vibrant metropolis of Oklahoma City lies a beacon of innovation and excellence in property management: Camber Properties. As the premier choice for property management solutions in Oklahoma City, Camber Properties is revolutionizing the industry with their unparalleled commitment to efficiency, transparency, and customer satisfaction. Whether you're a property owner seeking stress-free management or a tenant searching for your dream home, Camber Properties has you covered. Let's delve into how Camber Properties is reshaping the landscape of property management in Oklahoma City. A Trusted Partner in Property Management Owning and managing rental properties can be a daunting task, especially in a bustling city like Oklahoma City. From tenant screening and rent collection to maintenance and legal compliance, the responsibilities can quickly become overwhelming. This is where Camber Properties steps in as a trusted partner, offering comprehensive property management services tailored to meet the unique needs of each client. Expertise in Oklahoma City Real Estate Market With years of experience in the Oklahoma City real estate market, Camber Properties boasts an in-depth understanding of local trends, regulations, and market dynamics. Whether you own a single-family home, multi-unit apartment complex, or commercial property, their team of seasoned professionals has the expertise to maximize the value of your investment and optimize your rental income. Comprehensive Property Management Solutions At Camber Properties, they believe in providing end-to-end solutions that cover every aspect of property management. From marketing and tenant acquisition to maintenance and financial reporting, they handle it all with utmost professionalism and attention to detail. Here's a glimpse into their comprehensive suite of services: Property Marketing and Tenant Screening : Utilizing cutting-edge marketing strategies and platforms, Camber Properties ensures maximum visibility for your rental property, attracting high-quality tenants. Their rigorous screening process evaluates potential tenants' creditworthiness, rental history, and background, minimizing the risk of late payments or property damage. Rent Collection and Financial Management : Say goodbye to chasing tenants for rent payments – Camber Properties handles rent collection and financial management with precision and efficiency. With secure online payment options and timely disbursements, they make the rental income process seamless and hassle-free for property owners. Property Maintenance and Repairs : From routine maintenance tasks to emergency repairs, Camber Properties has a network of trusted vendors and contractors ready to address any issues promptly. Their proactive approach to maintenance ensures that properties are well-maintained, preserving their value and enhancing tenant satisfaction. Legal Compliance and Risk Management : Navigating the complex landscape of landlord-tenant laws and regulations can be daunting. Camber Properties stays up-to-date with all legal requirements and ensures that your property remains compliant, minimizing the risk of potential liabilities and disputes. Transparent Communication and Client Satisfaction At the core of Camber Properties' philosophy is a commitment to transparency, integrity, and superior customer service. They understand that open communication is the key to a successful partnership, which is why they keep clients informed every step of the way. From monthly financial statements to regular property inspections, they provide comprehensive reports and updates, giving property owners peace of mind and confidence in their investment. Testimonials Speak Louder than Words Don't just take our word for it – hear what satisfied clients have to say about their experience with Camber Properties: "I've been working with Camber Properties for several years now, and I couldn't be happier with their service. They've helped me maximize my rental income while minimizing headaches and hassles. Their professionalism, attention to detail, and commitment to customer satisfaction are unmatched." - John Doe, Property Owner "Camber Properties helped me find the perfect rental home in Oklahoma City. From the initial inquiry to the move-in process, they were responsive, helpful, and attentive to my needs. I highly recommend them to anyone looking for top-notch property management services." - Jane Smith, Tenant Conclusion: Elevate Your Property Management Experience with Camber Properties In conclusion, Camber Properties is setting the standard for excellence in property management in Oklahoma City. With their expertise, professionalism, and commitment to customer satisfaction, they provide property owners and tenants alike with a superior experience that exceeds expectations. Whether you're looking to maximize the return on your investment or find your dream rental home, Camber Properties is your trusted partner every step of the way. Experience the difference with Camber Properties and unlock the full potential of your real estate investment in Oklahoma City.

I t’s that time again, time for end of the year reports and forms. Below are some terms we commonly get asked what they mean, how it was calculated so we thought we would share it with everyone to hopefully answer any questions you may have. Pre-paid rent: what exactly is this? It is advance rent that your tenant pays prior to it being due. The most common instance of this happening is when a tenant pays January rent early in December. While it is great that you have an early paying tenant, it will bring up questions when it comes time to file taxes. For one, when you get your end of year cash flow report from Camber, you will look at income, expense and then scroll down to other items. Any pre-paid rent will be listed under this category. Then when you receive your 1099, the amount will reflect the total of income and any pre-paid rent, as pre-paid rent is taxable income to you in the year it was received not the year in which it was disbursed. Hopefully, this helps and if you have any questions on this, please don't hesitate to reach out to us and we can discuss things further. Thank you and happy new year!

Until recently, rental payments to your landlord didn’t have an impact on your application for a mortgage, but Fannie Mae is looking to change that. Fannie Mae is the federally backed institution that purchases mortgages from banks and other financial institutions that evaluate and underwrite potential borrowers. Essentially, they set many of the standards for what data matters and who qualifies for a mortgage. They have announced that they now plan to review an applicant’s rental payment history and taking it into account during their review process for granting a loan. This will have the largest impact for tenants who otherwise would not have a robust credit history. According to the Consumer Financial Protection Bureau roughly 20% of American adults have no or limited credit history, potentially there are millions of people within the US that would benefit from this expanded review. Currently less than 1% of the data that is sent to the credit bureaus are related to rental payments, this could be because currently landlords must submit reports directly to the credit bureaus. Fannie Mae however is looking at alternative ways of submission instead of relying solely on landlords providing the information to the credit bureaus. This could include showing proof of payments thru bank statements or other sources that can be validated. At Camber we will continue to evolve our processes to ensure that the tenants making on time rental payments on our homes are recognized through this system. On the other side of the coin, the tenants that fail to pay or do not pay in a timely manner pursuant to their lease, it will shine a light for future landlords and have effects on their abilities to secure a mortgage. As times continue to change, especially with COVID-19, and the evolution of lifestyles, it is encouraging to see that lenders are beginning to look at the whole picture when analyzing applicants as a large portion of our population rents at one point or another before choosing home ownership. So in a nutshell, on time rental payments are not just important to your current landlord, it could affect your ability to secure a mortgage in the future. 

I have been managing properties for 15 years and have seen several trends hit the real estate market over that time, but I have experienced nothing like what we have seen in the last 12-18 months in terms of the supply and demand for rental homes. Similar to the sales market, the leasing market is on fire, there are multiple applications for properties, rents are increasing, and people are choosing to renew versus moving. Depending on whether you are a landlord or a potential tenant, the current market is either really exciting or extremely frustrating. From what our team has seen, we have compiled some things that will help you navigate this new rental market more successfully. Tenants - How do you make your application stand out so you get selected over the competition? When you find a property you like, get your application in ASAP and make sure you have provided ALL information required. A non complete application that is missing any of the required items will slow the process and could potentially miss the window for owner presentation/consideration. Time is truly of the essence when applying in a market that is moving so quickly. Understand that very much like those purchasing homes, there will normally be multiple applications. Come in strong and be ready for some competition. Be honest and transparent during the application process, most companies are going to run a credit, criminal, rental/mortgage history and income review. If there are any issues on any of these items, understand it could impact your application and best to disclose up front so we can discuss options vs after the fact. Be flexible on your move in date. If a home is available on the 1st but you can't move in until the 28th, understand this will greatly affect your chances of being selected because there could be a similar application to yours that could move in when it becomes available which is important to landlords. Offer to do a 24 month lease vs a 12 month lease. When reviewing very similar caliber of applications, landlords typically will go with the longer term lease. Offer to pay a higher rate of rent per month. Landlords - How can you capitalize on this market? Make sure your property is rent ready, so it shows well and will attract good quality tenants. While supply/demand is on your side, there are still options available to potential tenants. Be responsive and ready to select an application quickly. It is a competitive market right now and as such we are seeing potential tenants putting applications in on multiple properties to enhance their chance of being approved for a property. If you wait too long to select, the strongest application will normally have been approved on another property and be in the finalization process elsewhere, so time is critical on both sides. Be selective. This is a good time to look for a longer-term tenant option. Encouraging a 24 month lease could be a win/win for both parties. You get a longer term tenant and the applicant(s) gets to lock in today's rental rate for 2 years vs 1 as rent does historically tend to increase year over year. If you have any further questions on how to navigate this "NEW" rental market, please contact us at Camber and we would be happy to assist.

In Spring 2020, as we began to see how serious Covid-19 was and we all became familiar with the term pandemic, I was very concerned. I was worried not only for my clients, but also for myself as a fellow investor. The questions of will tenants be able to pay rent, will we still be able to lease properties? Would our investors’ properties still be able to cash flow and appreciate? There was so much uncertainty in our world, that I really didn’t know how bad this would get. In terms of impact, the OKC metro area was extremely fortunate in that single family homes, duplexes and quadplexes didn’t see the projected drop, it was larger multi-family condos and apartments that were more negatively impacted. Why is this? I think there were several reasons. 1. The single family product became very attractive. With so many people spending increased amounts of time at home, the demand for more square footage, private laundry, outdoor entertaining areas and backyards increased. The fear of sharing space with so many others was also real. Most of our local moves were tenants of urban style and large multi family properties to single family style neighborhoods in suburban towns. 2. Will tenants pay rent? From the beginning of the pandemic to present, we have had zero evictions, we were fortunate enough to not even have to file on any tenants. While we normally have low rates of eviction due to our thorough vetting process, we had even lower numbers during Covid vs pre-pandemic. This isn’t to say that we didn’t have tenants that couldn’t pay rent. One of the hallmarks of my company and the way we do business is that we find the best solution for everyone. For example, if a tenant truly can’t pay rent, the best thing is to help the tenant to end their lease and vacate the property. This allows us to get a new paying tenant in quickly, sometimes so quickly that the former tenants were able to get some of their deposit back. A win-win in my book. The owner was made whole on most occasions and the former tenant didn’t have an eviction on their record, because let’s be honest, these times have been extremely tough on so many by factors that are completely outside of their control. 3. Tenant Retention. We have seen a dramatic increase in tenant renewals and at higher rates. This coupled with low inventory, our ability to be even more selective in the tenant placement process and greater demand for these types of homes will create scarcity. If this continues, we should see investor returns skyrocket as rents and home values continue to climb even higher. Which is exactly what you want to see in your single family home investments. 4. Influx of people moving to smaller cities and less restrictive states. We have seen an increase in the number of tenants that are moving from out of state. With so many businesses and people operating and working from home the need to be close to an office was no longer a huge factor. This has been a tremendous boost for our market to have so many new prospective tenants and homebuyers. While I don’t have a crystal ball, there is so much to be grateful for and to be encouraged by for the future of the rental market in the OKC metro area. I would be happy to discuss in greater detail why this market should be on the top of your list for investment opportunities should you be interested.

The definition of a "vacant" property can vary from carrier to carrier so I will start by urging you to either consult your agent or your policy to determine the parameters of your individual contract. Most companies will deem a property vacant after a period of 30 to 60 CONSECUTIVE days of being uninhabited. Once a property has been determined to be vacant, there is an outline as to reductions of coverage or even removal of coverage. Specific coverage that may be listed or deleted are: -Water -Vandalism/Malicious Mischief -Theft -Glass Breakage For instance, one policy we reviewed removed ALL water damage coverage after being vacant for 60 days. This same policy reduced all other covered losses (wind, hail, fire, etc.) by 15% if vacant at the time of loss. On the other hand, another carrier states that coverage listed on the declarations page is reduced to 60% if vacant for 30 days or more, period. So what do you do? If you know a property will be vacant for a period of time, THAT IS OKAY! There are carriers that will provide coverage on a vacant property, typically at a higher rate, so that remodels, repairs, etc. can be made without the worry of a reduction in coverage. There are carriers out there that by just a quick call to your agent can be switched to "Vacant" policy as fast as a light is turned on. Policies can be written on temporary basis such as 3, 6 and even 9 month terms and there are many different options as long as you are proactive. Like I said, consult you insurance agent and make sure you have an understanding of your policies so when it comes time to file a claim no one is in the dark and vacancy clauses are one item that investors may not think of until a situation comes up. At Camber we have trusted insurance agents we work with that specialize in investment properties so please feel free to reach out to us directly if need any help reaching a like minded agent that can assist with your investment property.

One of the most common mistakes we see with investor property owners is underestimating the importance of tenant retention. As someone who has been managing investment properties for over 12 years and a fellow investor, turnover is the biggest expense an investor can incur. Contrary to popular belief, turnover outpaces routine repairs or maintenance, fees paid to your property manager or even property taxes in terms of cost. Every time a home is vacant it is real money lost that you can never recoup. Lost rent, utilities, make ready costs, leasing/marketing fees and the often-overlooked risks that come with having a vacant home. 3 Ways To Minimize Turnover: Placing the right tenant for your property Seems simple but it’s truly an art form. While prospective tenants with 800 credit scores are traditionally safe and look great, there are some negatives. Tenants with great credit soon become home buyers. We prefer to look at the whole picture. For example, Tenant A has great credit, stable income, excellent mortgage history and is coming in with a job transfer. Tenant B has a much lower credit score due to say…unpaid medical bills but does possess good income and long term rental history. Tenant A looks like an easy choice, right? Not necessarily…we would most likely recommend Tenant B (with an additional deposit). The reasons are Tenant B will struggle to buy a home soon. Also, they have excellent income with a long history of renting. Through tracking our tenant compliance and longevity, we have learned that prospects like Tenant B not only stay years longer on average, they actually have a lower lease default rate. Attentive, Concerned, Communication and Responsive Long term, good tenants expect this. Might seem obvious but it takes an excellent process, well trained, motivated staff and vendors to meet the expectations of today’s tenants. At Camber, we have a great recipe for tenant success while still working for our investors to keep total cost of ownership to a minimum. Tailored Renewal Strategy I often see property managers or investors approaching renewals two ways: They either fail to send them out, allowing tenants to auto-roll month to month at the same rent rate, or they fail to consider all factors before offering a lease extension. At Camber, we look at each home focusing on retaining your tenant and evaluating rental rates. Through preparation and analysis of market conditions, we systematically send fair and reasonable lease renewal offers to your tenants. We also consider the following during our review: · What would we realistically get in rent on re-lease? · How long would it take to secure a new qualified tenant? · Turnover costs? · We also review the current tenant’s payment history and how they have cared for your property. Our experience has shown that a combination of all these factors contributes to successfully renewing your tenants. At Camber, our core strengths always include matching the proper tenant to your property, ensuring your tenants have an excellent rental experience and working tirelessly towards meeting your goals for the property and keeping your total cost of ownership to a minimum.