Leases: Owner Frequently Asked Questions

Please contact Lauren Obregon if you have questions about the leasing process: admin@integrityokc.com

What are your approval guidelines?

Approval guidelines for properties priced $900/month and under rent:

  • The total household monthly net income must be over 3 times the rent
  • The highest wage earner in the home must have a credit score of 575 or higher with no outstanding landlord or utility debts >$200
  • All adults residing at the property must:
    • submit a rental application
    • have no evictions in the last 5 years
    • pass a background check
    • have a good rental history if they are currently renting

Approval guidelines for properties priced over $900/month:

  • The total household monthly net income must be over 3 times the rent
  • The highest wage earner in the home must have a credit score of 600 or higher with no outstanding landlord or utility debts >$200
  • All adults residing at the property must:
    • submit a rental application
    • have no evictions in the last 5 years
    • pass a background check
    • have a good rental history if they are currently renting

What lease do you use?

We use the Oklahoma Real Estate Commission’s recommended lease format which can be accessed here.

33: Other Conditions:

These are the other conditions we have added to #33 on the Oklahoma Real Estate Commission’s Lease

  • The lease becomes month to month at the end of the initial term unless either party gives written 30 day notice or a lease renewal is signed by both parties. The additional month to month fee after the initial lease term ends is $50 per month.
  • If tenant vacates during the lease term: tenant will give 30 days written notice, tenant will forfeit security deposit, and tenant will pay 1.5 month’s rent early termination fee when 30 days notice is given.
  • Tenant’s security deposit will be moved to Integrity Oklahoma’s security deposit escrow account that is registered with OREC.
  • Tenant agrees to turn in their move in checklist within 7 days of receiving keys to property. If tenant fails to turn in move in checklist, tenant agrees to accept responsibility for damages and cleaning issues not reported.

Do I sign the lease?

Effective April 1, 2021, our licensed Real Estate Agents will be signing leases on behalf of Integrity Oklahoma.

Where are the leases filed?

You can access the your leases by logging into your Appfolio owner portal.

Does the lease have an early termination clause?

Yes. We added an early termination clause to our leases in 2018 because we found it was a way to recoup more funds from the tenant if the tenant wants to be released early. The clause is in “33: Other Conditions” on the lease. The clause states that if the tenant vacates during the lease term, the tenant will: give 30 days written notice, forfeit their security deposit, and pay 1.5 month’s rent early termination fee when their notice is given.  

Integrity Oklahoma retains $250 of the early termination fee, and the rest is passed along to the owner less any costs for damages at the property. 

What happens after the initial lease term ends?

The lease goes month to month after the initial term ends unless another contract is signed or either party gives 30 days notice. We have added a $50 month to month fee effective February 2019. This means the lease will go month to month after the initial term with an additional $50/month rent unless another contract is signed. The exception to this policy is Section 8 properties because the Section 8 office has to approve rental increases.

Who should I talk to about lease renewals?

Please talk with the Property Manager assigned to your property if you would like to offer a lease renewal to your tenants.