About Western Property Management


Services Provided

Project Management
  • Site Manager selection, training and supervision
  • Regular inspections of facilities and tenant records by area managers
  • Aggressive preventative maintenance policies
  • Effective and timely resolution of tenant maintenance requests
  • Aggressive affirmative marketing
  • Effective tenant relations
  • Firm collection policy
Tax Credit Compliance
  • Work closely with Owners, Syndicators & State Tax Credit Agency
  • Train and supervise site managers in tax credit compliance rules
  • Monitor compliance monthly with computerized tracking software

RD Reporting & Compliance
  • Tenant Certifications and Project Worksheets submitted timely with zero errors
  • Budgets and reports accurately completed and filed timely
  • Tenant files and financial records kept in compliance with 1930-C and made available for RD inspection upon request
Owner & Investor Relations
  • Financial reporting as requested
    • Balance Sheet
    • Budget Comparison Income Statements
    • Project Worksheets
    • Occupancy Reports
  • Document imaging and retrieval on permanent DVD disks to better organize and protect client records
  • Work closely with Accountant/ Auditor to complete Federal & State tax returns for Owners & Investors

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Our Customers are . . .

Owners and Developers of the properties we manage,
Investors who are limited partners in the ownership entity,
USDA Rural Development who provides construction funding and rental subsidy funding to make these projects financially feasible in rural communities,
Oklahoma Housing Finance Agency and other state tax credit agencies,.

and the Tenants who rent the properties that we manage and make these apartments their homes are our most important customers, because satisfied tenants are the foundation for everything that we can provide for all of our other customers.

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Company Background and History

Western Property Management, Inc. has been providing professional management services to Owners and Developers of Section 515 Rental Housing since 1983.

The company began with two employees, Owners Leon & Delois Farris, managing four properties in southwest Oklahoma. Today, Western Property Management has a professional staff and provides a complete portfolio of management services to properties in scattered across Oklahoma.

Leon Farris, worked for FmHA 12 years and specialized in the 515 Program before starting this company. The special training and experience that each staff member has brought to the company has created a valuable storehouse of knowledge and expertise.

The combined knowledge and experience of the WPM management team provides our clients peace of mind, knowing their properties are being well managed, well maintained, and kept in compliance with RD and Low Income Housing Tax Credit regulations.

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