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OKC, Tulsa apartment rental rates rise, vacancies down “Apartment rental rates in both metro Oklahoma City and Tulsa in the first quarter, even as vacancy rates inched lower...” (Source: The Journal Record). Read full article at www.OKCInvestments.com. Tips How to Save $$$ on Your Property Insurance Did you know that Commercial Property Insurance carriers re-evaluate the risk on entire property types and areas each year? By getting quotes from several AAA rated companies each year you could save thousands on your annual premiums! Contacting a local, independent agent, or a web-based search are great ways to find out how much you could save.
Owning your own Laundry Equipment may put a lot more change in your pocket each month Laundry equipment providers that share the profits while taking the burden of owning and maintaining the machines might appeal to many property owners; however, there are many advantages in both tax savings and extra income that come from out-right ownership. To see if ownership is right for you try this well-known supplier: AAdvantage Laundry, Daniel, (918) 638-0928 Auto-Rent Collection Saves You Money & Headaches Possibly the best apartment management tool is automatic rent collection. This service automatically withdraws rent from a tenant’s bank account and directly deposits it in your checking account. Not only does this avoid chasing down tenants, it eliminates listening to terrible excuses for not paying rent.. Visit our website, www.OKCInvestments.com for a list of providers for your area. |
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Quick Facts
Industry experts forecast decreased vacancy rates and rent growth for both OKC and Tulsa metro markets throughout 2008. Oklahoma’s rent growth was higher than the national index and it was equal to the Southwest index. Of equal importance is that Oklahoma has had back to back increases in asking rents. In Tulsa, average asking rents rose 1.1% in the first quarter of 2008, equivalent to 4.3% at an annualized rate. That mirrored fourth-quarter hikes and equaled the Southwest region increase, with both topping the nation’s 0.9-percent rise. Tulsa’s average vacancy rate also set a five-year best, slipping to 8.5 percent in the first quarter from 8.7% in the last three months of 2007, although it trailed regional and national marks. The market absorbed 132 units, with no new construction coming online. Oklahoma City’s average vacancy rate slipped to 8.2 percent from 8.3 percent in the fourth quarter. That marked the lowest point seen in the last five year. With average concessions of 4.8 percent, a level consistent with 2007 results, the ABT report said Oklahoma City effective rents rose 1.2 percent in the first quarter to reach $499. For both cities, these strong results have been attributed Source: The Journal Record |
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This newsletter has been brought to you courtesy of: Robert Williams, of InterWest Realty, who in 2007 sold $58,692,000 in Commercial properties. If you would like to be added to my list of over 5,758 Buyers and Sellers who have up-to-date information such as this delivered directly to their e-mail inbox, please visit my website at: www.OKCInvestments.com or call me at (405) 822-2877 to sign up today. If you ever considered selling your property, or are just curious about your property’s current Market Value, please contact me for a FREE, confidential Market Evaluation at (405) 822-2877 , or e-mail me at Robert@OKCInvestments.com. WWW.OKCInvestments.com |
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Apartment Owners Quarterly Industry Information, Maintenance Tips, Marketing Ideas, Sales and Financing to Help Your Business Grow First Quarter, 2008 Robert Williams, IW Realty 8315 Glenwood Ave., Oklahoma City, OK 73114
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OKLAHOMA ~ AT A GLANCE ~ Unemployment Rates: Down to 3.5% Vs. National: 4.8% Avg. Sales Price of Existing Home: UP 7% in Oklahoma City (Up 4.24% in State) Number of Foreclosures: Down 13% Vs. National: Up 80% Cost of Living: Lowest in the Nation All Major Oklahoma Products and Industries: Up and booming! |