Renting & Your Credit Score
Renting and Your Credit Score
When applying for a rental property keep in mind most rental agencies use a third party background check company to complete the application. The background check company will complete a check on rental references, criminal, income verification and credit. These four factors will affect whether your application will be approved or denied. In general applications that are approved have credit scores of 600+, good rental references with prompt payments and no evictions, income which is 3X the monthly rent to show ability to pay, and no criminal activity such as felonies, aggressive behavior or drug-related activity.
Learn more in this personal finance article on renting and credit score >
National Multifamily Outlook for 2018
Here is an interesting read on the outlook for 2018 as it relates to Multifamily housing in the Minneapolis/St. Paul metro. Rents are forecasted to increase by 2 percent due to continued demand, particularly for the main renting ages, 2o-34 year olds. We’ll be watching the Twin Cities and surrounding metro for how this prediction fits with our experiences in 2018.
Call us with your Property Management and Home Rental questions!
Minnesota CRP Due by January 31
Minnesota CRP, Certificate of Rent Paid
Were you an owner/property manager of a rental property in 2017?
Here’s what you need to know about getting your renters their Minnesota CRP (certificate of rent paid) form by January 31, 2018.
Do you have questions about renting your property? With 40+ years of combined experience in the residential locator, leasing and management industry in the Minneapolis – St. Paul area, Complete Management Services has the answers! Contact us today.
Renter Questions: When a Tenant Dies
Landlord FAQ, Renter FAQ: What to do when a tenant dies
As a property investor or landlord, have you ever found yourself in the unfortunate situation of renting to a person who has died? Here is some good information and a Q & A article in the Star Tribune that can answer your questions about what your rights are as a landlord:
http://www.startribune.com/after-tenant-dies-who-owes-unpaid-rent/431775483/
Renting your home during the Super Bowl? Changes are coming!
Are you a homeowner that is excited about Minnesota hosting the 2018 Super Bowl and want to rent your home to out of town visitors? Before doing so, you might want to check out this article in the Pioneer Press. St. Paul will be setting Airbnb rules, other cities may have rules of their own:
Super Bowl Rental Rules Changing
With 40+ years of combined experience in the residential locator, leasing and management industry in the Minneapolis – St. Paul area, we are committed to excellence in customer service and will cater to your individual needs. Our property management company is small, which enables us to work more closely with each owner. We offer full-service leasing, Ala Carte Management Services and property management. Contact us today for more information on renting your property for the SuperBowl!
What is important to you is important to us!
Looking for an Easier Way to Rent Property Online?
Tenants – looking for an easier way to find properties for rent on line in Minneapolis – Saint Paul? Here are some tips from an article written by an employee of the BBB. Important points include:
- Location
- Visiting in person
- Asking about utilities
- Reading the lease
- Payment and deposit tips
New Minneapolis Ordinance Regarding Section 8
If you are the owner of rental property or considering an investoment in Minneapolis, this is some good information regarding the new ordinance put in place in March 2017. Read article here
Service animals exempt from no-pets clause
If you are a property owner this is an interesting Q & A in the Minneapolis Star Tribune worth reading. It gives the information regarding Minnesota Landlord and Tenant Law about allowing service animals.
View Star Tribune article here
The Complete Management Services team specializes in property management in the Minneapolis – St. Paul area, and Twin Cities suburbs. In addition, our team members are knowledgeable on greater MN and areas including St. Cloud, Albertville – St. Michael and Monticello. Call us or email for more information today!
Popular Moms club connects Southwest Minneapolis neighborhood parents
If you are looking to make a move to the Southwest Minneapolis neighborhoods or currently live there, check out this article in Southwest Magazine. What a great way to get parents and kids together without having to travel long distances, especially with the impending Minnesota winter coming! If you are a renter looking for a place to rent in the Windom or surrounding neighborhoods check out our rental available at 5403 Pillsbury Avenue South. CMS ID #4523. Property investors might want to consider buying in these high demand neighborhoods.
The Complete Management Services team specializes in property management in the Minneapolis – St. Paul area, and Twin Cities suburbs. In addition, our team members are knowledgeable on greater MN and areas including St. Cloud, Albertville – St. Michael and Monticello. Call us or email for more information today!
You Have Rental Investment Choices
You Have Rental Investment Choices!
You as an owner and investor also have to keep budget in mind. Complete Management Services works with owners to help them achieve their budget goal. Everyone likes to have choices. Our company offers choices.
Your Choices Are:
- Tenant placement only. Some owners/landlords just need someone to help market and show the property and get all the documents signed. However once the tenant is found they like to deal with the day to day management on their own.
- Tenant placement and day to day management. This option is where landlords/owners are hands off and Complete Management Services deals with everything from the marketing and showings to securing the tenant. Collecting of rent, renewals, inspections, city registrations and reports are also included.
- Vendors. If we manage and you have certain companies or vendors you would like to complete work on your property. We are able to work with them, provided they are licensed and insured this is no issue.
- “Ala Carte.” Services for an agreed upon price. Some owners/landlords like to manage their own however at times are not able to accommodate the timing on move in/out or inspections or dealing with maintenance etc. We offer to be a point of contact to help when owners/ landlords are too busy to do what is necessary to keep their property running smooth.
- We also work with owners on leases. Our goal is to get the lease term you desire and not have the renewal time happen at a slower time of year. Whether it is 9, 12, 15, 18 or 2 years –your goal is our goal.
There are many companies to choose from ranging from very large to very small. As an owner you have to find a fit that works for you. Our company is small and caters to smaller investors who want good communication and to be involved in their investment property. We take great pride in having run a successful rental and Property Management company for 13+ years. Learn more about our Property Management Services here >
The Complete Management Services team specializes in property management in the Minneapolis – St. Paul area, and Twin Cities suburbs. In addition, our team members are knowledgeable on greater MN and areas including St. Cloud, Albertville – St. Michael and Monticello. Call us or email for more information today!
Chaska Rental Property 4515, 4BR
Chaska Rental Property 4515, 4BR
Lovely home for rent in the Johnathan community in Chaska. Lots of space with spacious bedrooms, main floor family room with gas, fireplace, formal dining area, huge 16×10 foot patio that walks out to the backyard. Excellent features with newly remodeled kitchen and bathrooms, hardwood floors, gas fireplace, large patio that walks out to the backyard. Newer carpeting/flooring, updated lighting, doors and hardware. Move in ready! Chaska schools.
Featured Rental Areas in the Twin Cities
Complete Management Services is here to help you find the perfect property rental, whether it is a condo, apartment or single-family home. We are also ready to assist homeowners and property investors through the rental process, connecting you with the renter you are looking for!
Albertville Minnesota – a great place to live! Let Complete Management Services help you find the perfect rental, or renter! Call us today!
In recent and coming months, our team will be presenting featured area articles. These will highlight each area we serve around the Twin Cities with area news and information, as well as realty and rental insights. Look for our upcoming articles.
This month, check out our article featuring the Albertville – St. Michael area, including the fabulous rental offerings in and around the area!
Rental Property 4168: Apple Valley, 2BR+ loft, $1150
Rental Property 4168: Apple Valley, 2BR+ loft, $1150
Cozy completely remodeled 2 BR in a convenient location of Apple Valley. Main floor has hardwood flooring and all new carpet up the stairs and throughout upper level. Main floor features a gas fireplace, walkout to a very private patio, kitchen with plenty of cabinets and all new white appliances as well as a new water softener and .50 bath. Upstairs you will find both bedrooms {one with large walk in closet}, full bath, loft area perfect for a desk, computer set up or sitting area and laundry convenient to both bedrooms. Easy access to Cedar {77}, minutes to Mall of America and the airport, walking distance to MVTA {transit station}, walking distance to the movie theatre and restaurants as well. Looking for a place in excellent condition to call home? This is a must see. Sorry no pets or smoking in this rental. School district 196-Built in 1994. Call Cheri Ludwig with Complete Management Services-Realtor/Broker @ 612-251-3223 or e-mail cheria@completemanagementteam.com.
About Apple Valley: Without a doubt, the #1 reason people make Apple Valley their home for a lifetime is the top rated school district: District 196 keeps winning national awards year after year, which includes several magnet schools, some with particular focus on Science, Technology, Engineering and Math (STEM). Apple Valley is home to the Minnesota Zoo and Apple Valley Family Aquatic Center, as well as 50 parks located within its city limits. Apple Valley has plenty of open space for residents and visitors to enjoy. Kelly Park in the downtown area is home to weekly summer concerts. Apple Valley is convenient to Interstate Highway 35E, Cedar Avenue, and County Road 42.
Property Details
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Property Photos
(Click on photo to view larger)
Property Map
Call Cheri @ 612-251-3223 to schedule a showing OR e-mail cheria@completemanagementteam.com. Appointments are scheduled with a 24-48 hour notice.
This property is offered by the trusted Minneapolis-St. Paul property management team Complete Management Services. We are a residential property management services provider serving the Twin Cities MN area with real estate rental services, rental management and homes for rent.
Rental Market Q & A
The rental market is constantly changing as is the housing sales market. Let’s see how knowledgeable you are with this 10 point quiz.
Grab a pen and paper and write down your answers. Once complete look below to find the correct answers.
1. Every city requires the owner to register their rental property. True or False?
2. There is no limit to what I can charge for a late fee. True or False?
3. There is no time limit I need to return deposit once the tenant moves out. True or False?
4. Minnesota requires landlords to return deposit with interest. True or False?
5. Rents decreased the 4th quarter of 2012. True or False?
6. Evictions can not be filed in winter months. True or False?
7. If I have Questions regarding landlord and tenants rights who do I call?
8. I need to make sure my tenants receive a booklet on lead based paint. True or False?
9. I can have my property be no smoking AND no pets. True or False?
10. Applications can be denied based on criminal activity. True or False?
Ready for the facts?????
1. FALSE…..Not every City however most cities do require a registration, inspection and or fee. Check out your city website just to make sure. Violations will result in additional unnecessary fees.
2. FALSE….8% is the maximum late fee you can charge a tenant. Refer to the Landlords and Tenants rights booklet or this website: http://www.ag.state.mn.us/Consumer/Housing/LandlordTenants.asp
3. FALSE…Landlords are required to return deposit or issue an explanation for keeping the deposit to the tenant within 21 days of vacating as long as a new address was received.
4. TRUE….Currently 1%-make sure to check this once a tenant leaves as it may change.
5. FALSE..They increased in privately owned Townhomes and Single family homes from 1-5%. This is a good sign for 2013. Slow and steady increases. Refer to : http://www.housinglink.org/blog.aspx for more information.
6. FALSE…Evictions can be filed anytime/any month. From the date you file they will set a court date {2 weeks from filing}. This process is kind of costly {ranges around $300-400 filing fees} but worth it to follow the law to get the tenants out of your property.
7. The Attorney Generals Office 651-296-3353 or look up the website http://www.ag.state.mn.us/
8. TRUE….IF your property was built prior to 1978. Make sure you also complete the landlord and tenant lead based paint form.
9. TRUE…Absolutely!!! Pets are not a Fair Housing Protected class and it’s your home so you can decide if you want smoking or not.
10. TRUE…It all depends on what the charge is however most owners will deny on any drug charges, weapon charges or aggressive behavior.
Have other rental questions? Feel free to call-we are happy to help. Renting out your investment can be overwhelming-Let us help eliminate some of the stress.
Complete Management Services 612-251-3223 Cheri Ludwig Co-Owner/Realtor & Broker
www.completemanagementteam.com
How do I choose the “RIGHT” Rental Agent or Property Rental Company?
How to choose the RIGHT Rental Agent or Property Rental Company to find a tenant
How do you know you are choosing the right property rental agent for your home or property?
Choosing a company or agent to help with selecting tenants for your rental property can be stressful – you want to work with an individual that truly cares about your needs. Asking some specific questions will ensure that there is a good communication connection between you and the agent you choose to work with.
Questions to ask when interviewing property rental companies or agents:
1. What company do they use for their background checks and do they provide a THOROUGH check to include income verification, rental history, employment history and criminal history? Does it include a nationwide search? If they say they get completed reports in 24 hours or less this does not include a thorough check-full background checks take 2-3 business days to get completed reports and are worth the wait.
2. Are they members of the NARPM? This is the National Association of Residential Property Managers.
3. Do they know if your City requires any rental registration? Are there any city ordinances you need to be aware of?
4. How often will you hear from your agent? Once a week? Every showing? How quick will they respond to your questions, needs? 24 hours or less is what I would say is good customer service. Are they available on weekends for your questions? Evenings? The rental business is not Monday through Friday 9-5 –renters and owners need to be able to reach the agent at all hours.
5. Are they a member of a local Real Estate Association? Are they a member of the MLS?
6. Do they provide completed lease paperwork in their service?
7. Once the lease is signed-are they available for questions? This is VERY important-many owners have questions; concerns etc. throughout a lease and need to call their agent for suggestions on how to handle situations. Will this cost you additional or is it included?
8. How long have they been in business? Are they able to provide references?
9. If you want to cancel the contract –what cost/ obligations do you have?
10. Can you choose who to approve to live in your home or do they approve or deny? Do they explain Fair Housing and what you can and cannot do as far as showings, applications and overall process of selecting a qualified tenant?
11. If you decide to invest in additional properties are they willing to give you feedback and help you make a good investment? Is there a cost for this?
12. Do they quote a rental price that seems way better than you expected? If so, this may be so they can get the listing. Pricing competitively and having your property in show ready condition will rent it quickly. Over pricing loses qualified tenants and keeps your property on the market much longer than needed.
Expect great service and a reliable long-term rental company relationship with Complete Management Services. We have built our business by exceeding customer expectations. Personal referral is the main source of our clients which truly shows our customers trust us and know they can send friends, family and co-workers our way and we promise to take good care of them.
Call Cheri Co-Owner Complete Management for additional information and questions at 612-251-3223.
Should I Rent or Sell my Residential property?
Should I rent or sell my residential property?
In a challenging market it may be smart to keep both doors open. Consider having your home on the rental market and the sales market at the same time until something is signed and sealed. Some agents are fine with allowing the home to be on both sales and rental markets and others are not –make sure to check with your agent.
Becoming a landlord by default is something that is becoming more and more common. In a market where many owners are upside down in their mortgage and the home is not selling the only option is to rent the property which will help in collecting income {rent} on the property.
Thinking of making your investment a rental property? Consider this:
• Pro: Tax deductions such as: mortgage interest, property taxes, advertising, repairs, maintenance expenses, management fees, insurance and home depreciation.
• Pro: If you are able to cover your mortgage you will be keeping the property while it appreciates to sell in a better market.
• Pro: Income {Rent} on your investment – Not having your home vacant.
• Con: Possible damage to the property
• Con: City Rental guidelines vary city to city and some can be costly. Ex: www.cityofmaplegrove.com
• Con: Potential legal or financial problems with tenants
If you are an absent landlord hiring a Property Manager may be a good idea. This is an added expense however may be worth it if you need a local “right arm” to make sure things continue to go smooth with your tenants. Good communication with the property manager you choose is crucial.
Completing a background check on all interested potential tenants is strongly advised. Get the facts on who will be living in your home. Background agencies confirm credit, criminal, employment and rental information.
Ex: www.rentalhistoryreports.com.
Know your rights as a landlord –The Attorney General’s office is there to help answer any questions. Landlord and Tenants Rights are posted on the site. http://www.ag.state.mn.us/Consumer/Housing/LandlordTenants.asp
Where to get help: The Complete Management Services team can help at any time during your decision to rent your home or property. Call Cheri Ludwig {Co-Owner Complete Management Services with any questions @ 612-251-3223 or check out our website @ www.completemanagementteam.com.
Say YES to thorough background checks on tenants!
Say “YES” to thorough background checks on tenants!
A complete background check is worth waiting for. A rental investment can be a high risk and financially draining without the proper steps.
Complete Management Services believes in going above and beyond in what we offer and not taking short cuts. Our goal is to make your rental investment as stress free as possible by tenant screening. Offering owners a complete background check is one of the many things we offer to assist owners in the rental process.
WHY is the application process a very important part of securing a tenant?
1st: Charging an application fee shows that an interested party is serious about wanting to rent your property and willing to pay the expense of an application fee {these range from 25-50 on average}.
2nd: This allows you to find out what you need to know about who will be living in your rental investment. Making sure they can afford the monthly rent, have no criminal activities that are of concern, and have a good previous housing record.
3rd: It allows you to make an educated decision on if you want to approve an application or deny {based on fair housing regulations}.
Using a background company that specializes in background checks is what we at Complete Management believe in. The agency we use completes a rental background {complete with evictions, late fees, damages, and MORE}, credit detail, employer verification which confirms dates of employment as well as monthly income, and finally a criminal search. This process is completed in 2-3 days depending on how responsive employers and prior rental communities are to the credit agency.
Things to be aware of:
- Tenants that want to give you a deposit and avoid application process.
- Tenants that don’t want to provide you with a complete application such as addresses, accounts, employers and social security numbers.
- Tenants that only want a background ran on one tenant {the main provider/ lease holder}. Be consistent-require background checks on all occupants over the age of 18 who will be residing in the rental.
- Tenants that have to move same day and can’t wait for a complete background. Have they been evicted?
Complete Management Services is a Rental service/ Property Management company that wants to help you protect your investment.
Please check out our website @ www.completemanagementteam.com for additional information.
