Minnesota for Rent
When renting a home in Minnesota, there are a few things to consider:
1. What city do you want to move to in mn
2. Are you choosing the city based on your job, or the school your kids are in
3. Do you have someone to help you move into your place
4. Many landlords have you move-in on the 1st or the 15th of the month
5. It's standard to pay 1st month's rent up front
6. It's standard to pay a security deposit
7. It's not uncommon to pay 2 months security deposit
8. Many apartments offer discounts on deposits
9. Many landlords are first time landlords just learning the business
10. Rent to own is an upgrade to renting and requires option money
11. Available properties include houses, townhouses, condos, duplex, apartments, etc.
12. Many renters are approved through the state or through section 8
13. Emergency Assistance is a great place to find money for a deposit
14. Renters will likely sign a lease before moving in to the home
15. Often a landlord will file an eviction within 7 days or later after past due rent
16. Places are for rent all over the twin cities, cities and suburbs
17. Your walls and carpet should look clean before moving in
18. It's important to see if the landlord is in foreclosure before moving in
19. It's a good idea to get a receipt after each payment
20. It's a good idea to get a CRP-Certificate of Rent's Paid in for annual tax rebates
21. You should contact your landlord when things need fixing, it's in his/her best interest
22. Sometimes the landlord does the property management themselves, other times he/she hires one.
23. Many landlords would love you to stay for years, until the sell the house someday
24. Many landlords may need you to allow for showings if they are selling the house
25. In today's market I see people rent out a property until it sells, keeping it on the market
26. Some landlords come to the door to collect rent, most prefer to be mailed rent
27. If you are going to be a few days late on rent, call your landlord just to let him/her know
28. Most landlords will include associate dues into the rent in those cases of condos and townhomes
29. Most rental houses should be in good condition and clean
30. buying a home these days can often be cheaper monthly and upfront over renting
31. renters can find places through craigslist or the newspaper
Homes, Townhouses, Condos, Apartments,
Twin Homes, Quad Homes, Row Houses:
Homes:
A.Homes generally are built from 1880 to brand new
I find that St. Paul and Minneapolis have the oldest often older than 1950's.
most suburb homes will be 1970's, or newer, with the suburbs gas, transpertation,
and shopping is often a factor.
B.Many of the older homes in Minneapolis and St. Paul are duplexes, triplexes, and apartments
C:I think most renters will prefer newer homes in the suburbs, if transpertation is
a problem, or you work downtown, living in the cities may make more sense.
D: Home Types
Split Level-These are common with twin homes, usually you walk in and go down or up
4 level-Usually a good size house
2 story-Often a 1800+ square foot house
ranch-these often have a basement and 1 level, ideal for those who don't like stairs
Townhouses:
A: Often townhouses are part of an association and are connected with others.
Sometimes you see:
Row Houses
Townhouse development or subdivision, where outside or inside unit may be desirable
Quad homes often 2 in the front, and 2 facing the back, sharing walls
Twinhomes:
Usually where two seperate residents share a wall and garage wall.
Condos:
A.Typically condos are part of associations and their are usually inexpensive
condos and very high-end luxury condos. Association fees can be $200-$400/month easily.
What they include will differ, some trash, water, and some utilities, plus lawn.
Apartments:
As a general rule you'll find more apartment buildings in Minneapolis and St. Paul
also you are going to find them in what's called "buffer zones" which means
closer to commercial and retail places vs. in the middle of a residential neigborhood.
0-3 bedroom is your common size for an apartment. 0 bedrooms is called a studio.
standard size is typically 500 to 1200 sq ft depending on the bedrooms. When you start
getting around 1500 sq ft+ it's usually a luxury condo, or a very big old duplex or triplex.
Questions a landlord may ask:
Check your credit history
Do a background check
May want to know if you have criminal record
See if you have a job
Find out how much gross monthly income you make now
See how long you've been on your job
See how many adults will be living in the house
See who will be on the lease
See if you are a smoker
May or may not accept pets
Utilities:
Many landlords will have the renter pay utilities and bills including:
Electric
Gas
Trash
Water
Cable, etc
In some cases in Minneapolis or other cities, the landlord may have to pay
trash or some with the house as the owner, check with your local city.
Also it's common for programs like Section 8 to offer both a rent based on:
utilities included
utilities not included
As a landlord that doesn't include these items in rent
The landlord will be keeping a close eye on:
water consumption
how often windows are left open
the temperature the house needs to be at
As long as the landlord and renter treat each other fairly everyone should be happy
and it should be a long lasting friendship.
The #1 complaint a renter will have is that the landlord fixes items and in a timely matter
The #1 complaint a landlord will have is getting rent on time, and without a hassle
Good luck with your next place,
http://ping.fm/6EOu1
Real Estate Broker
MinnesotaInvestors.com, Inc.
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