Q. Describe three recent jobs you've completed.
A. 1. We began professional property management services for an out-of-state owner with a portfolio of 13 homes.
2. We rented an executive home in the Kenwood area for $6000/month, and it rented in less than a week with multiple offers.
3. We have an owner that we initially provided property management services for on his investment homes, and are now renting out and managing his personal residence due to job relocation.
Q. What advice do you have for a customer looking to hire a provider like you?
A. You will want to be sure to verify that the company and their agents are licensed and in good standing with the BBB (Better Business Bureau.) Also, do your research to see if there are any hidden charges. Lastly, make sure the company you hire is using multiple marketing channels including technology like Facebook and Twitter to get your home in front of as many prospective candidates as possible.
Q. If you were a customer, what do you wish you knew about your trade? Any inside secrets to share?
A. There are numerous factors that will affect your bottom line and determine whether your home is going to be a "money maker" or a "money pit." We help navigate you through the process-even if you only need help with Tenant Placement, and plan to self-manage your property. A few things you should look into before deciding if you should rent or sell your home: consult with your tax professional or lawyer, as there can be great tax benefits to renting out your home (in fact it can offer more tax benefits than any other type of investment-if managed properly.) You should also speak with your insurance agent to see what type of coverage you need for your home since it will no longer be owner-occupied. Many times it costs less because you no longer need to include your personal property. Then, visit your city's website to see if they have any licensing requirements for rental homes. Some cities require you (or your property management company) to complete an eight hour class with your police department before you can obtain your license. Minnesota Home Rental & Sales has completed this class for many of our homeowners and can for you too-if you choose (there is a small fee for this.) We know you have many questions that are important to you and we are ready to help. Please call us for your FREE MARKET ANALYSIS today!
Q. What questions should a consumer ask to hire the right service professional?
A. When interviewing property management companies, you should ask several questions, including:
How do you advertise?
Are you the only person I can call with questions about my home?
How do you screen tenants?
How thorough are your background checks?
How do you handle calls and emails regarding my home? What about on holidays?
How is maintenance handled?
There are many more questions you should ask being that your home is typically your most valuable investment, so please use these questions as a starting point. Remember, we are available to answer all of your questions and guide you through the entire process.
Q. What important information should buyers have thought through before seeking you out?
A. There are many things to consider before looking into a property management company, such as:
If you are buying a new home and want to rent your current home, you should make sure you can get approved for both loans first. Although you'll be receiving rental income, most lenders won't consider it as income until you've been renting it for two years.
If you are considering renting your home yourself, you should always conduct a thorough BACKGROUND CHECK. Homeowners attempting to do their own "tenant placement" have been known to be targeted in fraudulent rental schemes where the perpetrators often use sites like Craigslist to find them.
If you own a townhome, please check with your Home Owner's Association (HOA) to see if they allow units to be rented. If they don't, ask if you are able to "rent-to-own." If they don't allow either, we can still assist you in quickly selling your home.
Q. Why does your work stand out from others who do what you do?
A. At Minnesota Home Rental & Sales it will become evident from your first contact, that we are not your average property management company. We strive to give you the most personalized and thorough service from Day 1. You will work directly with your dedicated Client Success Manager throughout the entire process, as well as a small team of professionals that can assist at a drop of a hat. Normally you would need to be concerned about what happens to phone calls and emails inquiries about your property if a typical agent has appointments all day or is on vacation. With us, between your dedicated Client Success Manager and your small team, problem solved!
At Minnesota Home Rental & Sales, we have a staff of knowledgeable and friendly team members whose job responsibilities are 100% dedicated to tenant customer service (both prospective and current tenants.) They answer all tenant phone calls and respond to their emails. Rapid response is critical as we always want to get prospective tenants to your home first-before they get to the competitors-greatly increasing the odds that your home will get rented as quickly as possible!
Q. What do you like most about your job?
A. Working with people to assist them in achieving their real estate and investment goals.
Q. Do you do any sort of continuing education to stay up on the latest developments in your field?
A. Yes! As Licensed Real Estate Agents, we are required to complete Continuing Education Courses every year to maintain our MN state licenses. This requirement is a benefit for both us as a company and for you the consumer because we continually have ongoing training that keeps us abreast of changing laws, trends and always are trained in the latest and greatest!