Oklahoma City real estate rental market update

By
Real Estate Agent with The Virtual Real Estate Team 104556

June is typically the hottest mont with the most demand for Oklahoma City property rentals. Every market has some seasonality to it and in Oklahoma City we are a very school driven market when it comes to single family homes. School is out in May and it typically starts up again in the middle of August, so from April to the middle of July we have the strongest demand. This doesn't mean that we can ent in other months and in fact we can but it requires a bit lower rent, usually $100 a month lower in order to get a tenant. Often we try to do more than a 12 month lease so as to get us out of October for instance, and that often works.

We have found an exception to that however. Since we started to build duplex to quadriplex communities we have found no seasonality for a variety of reasons. The first is that it is less family oriented, the second is that we get a lot of apartment dwellers who like a community but not 800 doors like we see in apartment complexes. When we rent in the fourth quarter we have seen no difference in rent or in the time to find a tenant than in June so for those who want cash flow and access to even more renters this is a good way to go.

Our job as real estate investment specialists is to be totally transparent with you and give you the education you need to make an informed decision. I have practiced this selling Oklahoma City real estate investments for the last 27 years and this is why I believe we are successful. We want to build wealth for you that doesn't just exist on paper but also in the real world and we want to insure a long term future with you. I am not here to tell you that we are perfect every time but when it comes to our Oklahoma City real state investments we err on the side of caution because that is what we do for ourselves so we believe that should be the same way you are treated.

For more information on investing in Oklahoma City real estate for positive cash flow and long term wealth building please email me at joe@joepryor.com.

 

Comments (10)

Steven Nickens
Hawaii Life Real Estate Brokers - Wailea, HI
R(S)GRI ABR, Maui Real Estate Hawaii

Joe well thought out market report, you know your community well.

Jun 27, 2017 08:32 PM
Jim Cheney
Saint Francis Property Santa Rosa, CA - Santa Rosa, CA
Rincon Valley Realtor 707.494.1055

Joe Pryor I'm sure your community appreciates your knowledge on all things real estate.

Jun 27, 2017 10:41 PM
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Joe. Around my area our "hottest" month is August. 

Jun 28, 2017 02:25 AM
Roy Kelley
Retired - Gaithersburg, MD

Real estate investors will be in very good hands when they select you as their real estate professonal.

Jun 28, 2017 04:45 AM
Elyse Berman, PA
Best Connections Realty, Inc. - Boca Raton, FL
Boca Raton FL (561) 716-7824

Joe, It's great to see you have units to rent.  I didn't realize you had a "season" to rent in OK.  

Jun 29, 2017 03:08 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Joe, glad to hear the rental market is still flourishing, and nice update! 

Jun 29, 2017 06:26 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I love listening to a quality, well thought out, market update and that is what I found here Joe Pryor 

Jun 29, 2017 06:27 AM
Mark Loewenberg
KW of the Palm Beaches - Palm Beach Gardens, FL
KW 561-214-0370

thoese are great details on the rental market to learn about in OK City!

Jun 29, 2017 06:39 PM
Roy Kelley
Retired - Gaithersburg, MD

Good Sunday morning, Joe. Have a great day and an outstanding week.

Jul 02, 2017 09:09 AM
Cindy Logan
Mark 1 Real Estate Advisors - Huntington Beach, CA

Joe, great information.  I have clients interested in Oklahoma City and I don't trust Trulia nor Loopnet.  Can you create an email for me with your investment properties, please?  investorcindy@gmail.com.  By the way, emails get lost, so let me know what your email is so I can search it, in case it goes to spam.  

Jul 06, 2017 05:24 PM