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Rental Management GuysEvery year, the Minnesota Association of Realtors publishes changes to the standard forms we all use including purchase agreements, contingencies, etc. Often small changes are made to simplify language, remove ambiguity or lessen confusion. Other … [Read more]
Lots of Buyers, but No Inventory
My customers have been struggling lately. We are back to multiple offers and houses selling in days. Seems like we go through this about every 6 months (inventory loosens up, life is easy, then back to the fire with no inventory and a sellers … [Read more]
Painting Your Rental Property
How are you painting your rental property? This may seem like a simple question, but I see so many variations of how landlords handle one of the most important updates. It is one of the first things that prospective tenants will notice when you are … [Read more]
Home Sales Highest Since 2005
Information released this week by the Minneapolis Association of Realtors show home sales in 2015 rebounded to pre-great recession numbers. They were up almost 14% over 2014 to a total of 56,390 sales getting close to the record of over 60,000 homes … [Read more]
Credit Report=Your Best Screening Tool
As I mentioned last month, I have been getting tons of falsified applications. I spend 1-2 hours per application working through the details and doing research. While I use rental licenses and tax records to confirm that I am speaking to the … [Read more]
Liar, Liar, Pants on Fire
I have been in leasing mode for the last 60 days. Most of these properties are in North Minneapolis for my Rental Management Guys customers. In just the last 5 days, I have received 5 applications for 3 houses. When I receive multiple applications … [Read more]
Pet Agreement for Rental Properties
I rarely ever have to use a pet agreement for rental properties as there are very few situations where I allow pets. Now, I am not anti-pet. In fact, I have a dog, had multiple cats, fish, chickens and we have a horse. But, in a rental property, … [Read more]
It’s Mouse Season
I am not ashamed to admit that we had mice in our house last fall. We got so frustrated that eventually we called my exterminator, Glenn Buggs (yup, that is his name!). He came out and did a great job of placing poison around the building and we … [Read more]
Crystal Repeals Point of Sale Inspections
This week the City of Crystal repealed their point of sale inspection program after much discussion. Enacted in 1992, this program (which is similar in 12 other cites including Minneapolis, Hopkins, St. Paul) was designed to encourage/force home … [Read more]
Tracking Tenant Rent Payments
How do you track your tenant rent payments? Are you using spreadsheets, maybe Quickbooks, or are you doing it in your head? Every day, I am amazed by owners that have more than a few properties that don't have any system for managing rent payments … [Read more]
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