OKC Rental Homes | Protect Yourself by Knowing Your Rights as a Tenant

America is becoming a nation of renters, and it is a great time to be in the market for a rental property. With mortgage rates at all-time lows, investors are turning properties into OKC rental homes at a furious pace. While this may mean a wide selection of rental homes in Oklahoma City for some residents, it can also mean dealing with landlords who have little or no experience owning an investment property. No matter if you are dealing with an experienced Oklahoma City property management company or a novice landlord, it is always important to know your rights as a renter.
 

• Where to start? Before you sign a lease, or even make initial contact with one of the Oklahoma City property management companies, it is important to educate yourself. Most states have posted detailed documents outlining tenant rights and landlord responsibilities online. If you choose to work with one of the property management companies in OKC to help find your next rental, your property manager will be able to inform you of the specific rights you are guaranteed under Oklahoma law.
  
  
• Get out the magnifying glass. When working with one of the property management companies in OKC, it is always important to thoroughly review any document that is presented to you. Doing so can help you catch the common red flags that separate novice landlords from reputable experts in property management in Oklahoma City. In order to protect your rights as a tenant, watch out for the following:
  
  
  • Language in the lease agreement that violates Oklahoma's security deposit laws
    
    
  • Clauses that allow the amount of monthly rent to be changed within the timeframe of the lease (rent escalators are a common feature of some contracts, but they increase the rent at predetermined intervals)
    
    
  • Language that places the responsibility for repairs or maintenance on the tenant (it is common for landlords renting single-family homes to require basic yard work as part of a tenancy; however, the responsibility for major repairs will always fall on the landlord)
    
    
• Due diligence. One of the most common complaints among renters-especially in recent years-is that a novice landlord has suddenly been foreclosed upon. While this is always an unfortunate event, some jurisdictions will allow tenants to live out the remainder of a lease before a bank repossesses the property. However, to prevent such instances in the first place, renters need to complete a bit of research on their prospective rental property. This can include accessing property records to make sure that the rental property's owner is not in the middle of bankruptcy proceedings, and that there aren't any liens against the property.

Even though the market may be good for renters right now, it is always a good idea to protect yourself with the knowledge of your rights as a renter and how to exercise them. If you have any more questions about how working with a specialist in property management in Oklahoma City can help protect you as a renter, talk to a OneProp OKC property manager today.