Tulsa, OK: Oil Capital of the World
With 413,066 residents, Tulsa is the second-most populous city in Oklahoma. It also serves as the seat of Tulsa County. While its nickname, “Oil Capital of the World,” is derived from its historically energy-focused economy, the city has since diversified to include the financial, technological, and telecommunications sectors.
Tulsa is home to a thriving arts and culture scene. Notable attractions include the Philbrook Museum of Art, the Gilcrease Museum, the Woody Guthrie Center, and the Tulsa Performing Arts Center. Performing arts companies based in Tulsa include the Tulsa Ballet, Theatre Tulsa, the Tulsa Symphony Orchestra, and the Tulsa Opera. The city also hosts events such as the Tulsa State Fair and Oktoberfest.
Aside from that, Tulsa is known for its diverse local cuisine featuring everything from barbecue and Southern homestyle dishes to microbreweries and Lebanese steakhouses. Colleges and universities located in Tulsa include the University of Tulsa and Oral Roberts University. Other points of interest include the Oklahoma Aquarium, the Tulsa Zoo, the Gathering Place, Woodward Park, and the Tulsa Air and Space Museum & Planetarium.
How Is Tulsa’s Rental Market?
Home prices in Tulsa range from $7,400 to $5.8 million, with a median listing price of $199,900. Despite somewhat affordable homes, though, Tulsa still has a high renter population. In fact, 49.3% of the city’s residents rent their homes. With a large pool of renters, Tulsa is definitely a destination for property investors.
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While Tulsa does not have the highest rental prices in the country, landlords still stand to earn decent returns. The average rent for an apartment in this Oklahoma city is $760, with only 11% of properties going beyond the $1,000 mark. The vacancy rate in Tulsa is also on the higher side.
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Considering its affordable real estate and selection of renters, Tulsa remains an attractive market for property investors. Oklahoma is also known to be a state with laws that are friendlier to landlords than tenants. Here, landlords can increase rental rates and evict tenants with few restrictions.
How a Tulsa Property Management Company Can Help
For rental property investors, Tulsa is absolutely the place to be. Being a landlord, though, requires more than just capital. You need to devote a lot of time and energy to operate your property, in addition to learning the usually confusing ropes that come with the job. This is where a Tulsa rental management company can help.
A rental management company can assume all of the landlord’s duties and perform them in an efficient manner. A professional manager can make property management in Tulsa much smoother by performing the following tasks and more:
- Advertise your listing
- Screen and process tenants
- Oversee property showings
- Set and collect rent
- Create a lease agreement
- Perform move-in, move-out, and routine inspections
- Enforce your lease terms
- Manage maintenance and repairs
- Respond to tenant complaints
- Manage your budget
- Help with tax calculations
- File evictions
Looking for Property Management in Tulsa?
Tulsa is home to several property management companies. The tricky part is trying to find the one that best suits your needs and price point. Streamline your search process today with the help of Rental Choice. Browse our online directory of property management companies by city or state.
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