Investors focus on quality, affordable housing

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LAWTON — Out-of-state investors Sam Norman and Sam Smith are among a group of landlords who don’t balk at spending money for needed repairs so tenants can enjoy quality, affordable housing.

Smith, who lives near Fort Worth, Texas, has purchased three Lawton houses since 2022 and is adamant that each property receive top-notch attention when tenants request help. Smith wants to build his investment portfolio to 15 houses within the next two years.

“Some people (landlords) will blow off the small requests and disregard it. Every single call with us is taken care of because we know less turnover is good.”

Whether it’s electrical work or a new dishwasher is needed, Smith makes sure the work is done. 

“Families live there, and you want them to stay,” he said. “It’s part of being a landlord, not a slumlord.”

Brenda Ragland-Spencer, property manager for Smith and Norman, wrote in an email that the two men are examples of good landlords who make the tenants and investments a priority over immediate financial gain.

“They know they are protecting the investment,” she wrote. “When they purchase a home as an investment opportunity, it is a significant financial investment, and proper maintenance helps protect its value. Regular upkeep prevents minor issues from turning into major, costly problems that could decrease the property’s value over time. “As well, they (Norman and Smith) know that well-maintained homes attract potential tenants. If the property is intended to be rented out or sold, well-maintained homes are more attractive to potential tenants or buyers.” 

Norman, who lives in Utah, said he’s been considering investing in Oklahoma because his wife is from here.

“In Utah, prices are too high. The price of purchase versus the price of rent is more favorable in Oklahoma,” he said. “I like Lawton because it’s a military town.”

Norman initially purchased a 16-unit apartment complex, renovated the property and sold it. Later, he bought the 40-unit Solace Apartments complex, at 1309 NW Baldwin Ave., and is working to renovate and establish a better reputation for the property. Norman understands having quality, affordable housing better than most people.

“I was poor as a kid when it comes to housing,” he said. “But if your needs are covered, you can function as a contributing member of society. We want our tenants to be their best selves. I want to raise the reputation of this complex and turn around the atmosphere of things.” 

 

‘Wouldn’t feel good’

 

During the 2023 legislative session, a proposal was submitted by Comanche County lawmakers that would give tenants the ability to seek legal action against landlords who retaliate against them for reporting poor living conditions.

The anti-retaliation measure, House Bill 2109, was authored by Rep. Daniel Pae (R-Lawton) and supported by then-state Sen. John Michael Montgomery (R-Lawton) this session. However, the bill stalled when it failed to get a hearing in the Senate.

The measure would prohibit landlords renting more than 10 units from retaliating against tenants after learning of tenant complaints or formal legal actions. The bill would not allow landlords to increase rent, decrease services, bring or threaten an action for possession or terminate a rental agreement as punishment for the tenant’s actions.

“I just wouldn’t feel good about it if we acted like some people do,” Norman said.

In June alone, property manager Ragland-Spencer spent more than $80,000 on repairs and maintenance for her investor clients who include Norman and Smith. Most of that work involved air-conditioning, plumbing, flooring and painting, she said.

“I can’t be managing properties if they (landlords) don’t maintain them,” she said. “Investors oftentimes get a bad rap. I have to tell them ‘you need to put money back into these (properties). There are laws we must adhere to.’”

Yet, that’s not the case for every landlord.
In May, Southwest Ledger reported on two women living in Lawton who had negative experiences with their landlords.

Jenny Ellis faced eviction from a rental home where the bathtub was collapsing and black mold covered the carpet, so she headed to court. Another woman, identified as Akei Guice, also faced possible legal action from a landlord who took months to rid the house of mice and wouldn’t fix the air-conditioning unit at a time when the temperature was starting to rise.

In many cases, the houses and apartments are plagued with insects or have no air conditioning, heat or water, Oklahoma Legal Aid attorney Cade McClure said then. When tenants fail to pay rent because of the poor conditions, they are evicted.

However, Ragland-Spencer said investors like Norman and Smith understand the situation better than a lot of landlords.

“There has to be collaboration between landlords and tenants so they can come to a good understanding,” she said. I’m proud of these people who come here and want to invest.”

As the owner of three rental houses in Lawton, Smith knows he’ll be spending money when a new tenant moves in.

“We’ll get calls right and left when we put someone into a home, probably spending $3,000 to $4,000. But once you work through those issues, you maybe will get one call a year,” he said.

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