A STEP-BY-STEP GUIDE TO HELPING PROPERTY OWNERS RENT OUT REAL- ESTATE.
1. Obtaining an Accurate Valuation of Your Property
Our goal is to rent your property out at the highest possible price in the shortest possible time period. Our experience in this market helps you yield the highest possible rent your investment can receive. That’s why we consistently deliver the asking rent for our clients’ properties. Call (612) 481-0174 today for a free rental valuation of your property or submit your information by clicking here:
2. Considering Furnished vs. Unfurnished Property
Renting your property furnished can be an ideal solution to collecting higher returns on your property. In most cases, rent is covered by corporate employers and a short-term lease for a period of up to 6 months is the common duration for furnished rentals. However, unfurnished is the most common way to rent your property out since most tenants have their own furnishings.
3. CONSIDERING PROPERTY MANAGEMENT?
Property Management is a service we offer with confidence. We know renters prefer to rent professionally managed properties and in doing so, they pay a higher premium. Our service includes a peace-of- mind relationship with tenants and landlords while maintaining quality of service 24/7.
4. PREPARING YOUR PROPERTY
The saying “First impressions count” is very true when showing rental properties to potential renters. Why? Simply put, if a property looks well-maintained with no repairs are needed, you’re likely to gain more interest from the prospective renter with the possibility of even collecting a higher rent. If the property is occupied by tenants, we recommend providing an incentive such as a discounted rent in an effort to keep the place tidy and clean while you or the management company showing the property can rent it out again. Providing a minimum of 24 hours notice or more is thought to be enough time for tenants to clean, but the truth is - you have no control over this whatsoever.
When you lease your property out for the first time, it’s important to make sure you have the proper rental license your city has enforced. An inspector will likely be called out to make sure the property is up to code before issuing the license.
5. MARKETING YOUR PROPERTY
We know it’s very important for your property to stand out. We market our properties on over 200+ websites and take professional photos for all of our listings that can be viewed in large-image format on www.mplsrent.com - helping to achieve maximum exposure for your property as we collect hundreds of calls regarding our listings each week. MPLS RENT wanted to be more innovative than the competition. We decided it is imperative to educate renters about all the residential buildings in which associations allow property owners to lease their condo, loft or townhome by creating a Building Directory. And by using our Interactive Neighborhood Maps renters can explore Minneapolis neighborhoods and discover our MPLS RENT Top 5 Picks which highlights information on things to do, places to go and where to eat and drink throughout Minneapolis neighborhoods. You’ll find our recommended restaurants for Lunch & Dinner, Bars, Bakeries, Coffee shops, Schools, Events & Attractions, and Activities. Renters appreciate eliminating the countless hours of searching the Web or driving randomly around neighborhoods looking for schools for their children, good restaurants, shopping opportunities, etc. We want renters to know the decision they are making is the right one. This is what makes MPLS RENT stand out from the competition in the Property Management and Tenant Placement Industry in the Minneapolis area. This is all part of what we call our ATTRACTION MARKETING.
6. Assuring Agent-Assisted Showings
We assist in organizing showings and will always be present for each showing. That means you can rely on the agent to share his/her expertise about the property and neighborhood making it easier to rent your property.
7. Accepting an Offer
Each and every offer received will be delivered immediately to our property owners. The property manager assigned to the property will go over any specific conditions and help you decide on whether to accept or counter the offer. Once a property owner agrees to an offer, we will provide the following services regardless of whether your property is under management with us or not:
• Provide an extensive background check which includes a criminal search, credit check, rental reference check and employment verification.
• Lease signing and inclusion of Mandated Building Addenda by Associations (if applicable)
• Include a Crime Free Addendum
• Include a Lead-Based Paint Addendum (properties built before 1978) and Lead Paint Disclosure Pamphlet
• Renter Guarantee for up to 10 months
• Collect security deposit and move-in fees
• Provide assistance in getting your rental license
• Provide move in/out inspection – This includes a thorough walk-through and many photos to be made part of the report. Under our management, our properties are inspected once every 6 months to make sure the property is in the same condition it was when the tenants moved in.
8. Completion. CHEERS!
Keys will now be released to the tenants and the move in inspection will take place with the property manager assigned to the property.
Congratulations! Your property is now leased and you can start collecting rent!