Rental Basics in Hennepin County : Real Estate Advice

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Josh Lund,  in Minneapolis, MN
Josh Lund answered:
Is $43,000 a year enough to live and rent a house in St. Anthony
Hello Tracker150,
Good afternoon.
Are you still in the market rent? How about instead buy a home? If so, I would love to see if we can help you out. We can do loans down to 600 Cre ... more
0 votes Share Flag Fri Oct 23, 2015 Rental Basics in Saint Anthony Village
Josh Lund,  in Minneapolis, MN
Josh Lund answered:
Describe the typical single family home in terms of bed, bath, garage, etc.
Hello Greg,

The typical SFH has 2-4 bedrooms, usually has at least 1 full bath, has 1-2 car garage. In MN this would typically range from 125k to 400k depending on location and size ... more
0 votes Share Flag Mon Jun 22, 2015 Rental Basics in 55418
Josh Lund,  in Minneapolis, MN
Josh Lund answered:
Describe the typical multi-family home in terms of bed, bath, garage, etc.
Hello Greg,

The Typical Multi-family home is going to be 2-4 units. Bedrooms are going to be 2-3 per unit usually, and usually only one bathroom ( FULL ) per unit. Garage will be ... more
0 votes Share Flag Fri Jun 19, 2015 Rental Basics in 55418
Doyle Real E…, Real Estate Pro in Maple Grove, MN
Doyle Real Estate Team answered:
TENANT PROBLEMS--ANY ADVICE?
It is important to do background and credit checks prior to renting your home. Not everyone is meant to be a landlord, it may be better to sell your home
0 votes Share Flag Tue Jan 14, 2014 Rental Basics in Maple Grove
Don Tepper, Real Estate Pro in Burke, VA
Don Tepper answered:
Can an Apt leasing company ask for bank & credit card names, account #'s & balances in an online application.....with no password or privacy statement
Most likely: Yes. They can ask. Well, in fact, we know they can ask. Your question seems to be whether they can ask on a site that may not be secure. Probably yes.

You can decline to ... more
0 votes Share Flag Thu Dec 5, 2013 Rental Basics in Saint Paul
Ken Carpenter, Real Estate Pro in Plymouth, MN
Ken Carpenter answered:
is an oral agreement to rent a room upheld in court?
Minneapolis has a landlord/tenant hotline that can help you with this question. They have attorneys on site that can offer free consultations. Call 311 for more information.
0 votes Share Flag Tue Nov 26, 2013 Rental Basics in Minneapolis
Susan Hoffla…, Real Estate Pro in Shoreview, MN
Susan Hofflander answered:
Renting and the price tags that come with it...
Hi, Devi!
I'm not sure what type of information you're looking for. Is this your first rental?? If so, good for you for taking the leap in to your life!!

Here's what I would do if ... more
0 votes Share Flag Mon Jul 29, 2013 Rental Basics in Minneapolis
Claire Basti…, Real Estate Pro in Fridley, MN
Claire Bastien Sales Associate answered:
I am looking for a temporary (2-3) month furnished apartment starting approx mar 4. south metro preferred. Can you recommend anything?
You would probably want to check with a short term rental agency if you prefer not to use the short term stay hotel suites. There are several options available in town, you could conta ... more
0 votes Share Flag Sat Feb 23, 2013 Rental Basics in 55423
Dean Gupta C…, Real Estate Pro in Minneapolis, MN
Dean Gupta CRS answered:
Landlord is refusing to release my rental history ( I live in Texas).
You can get your records straight, collect the data of your payments and submit to your prospective landlord. Similarly record for your utility bill payments can convince any reasonable ... more
0 votes Share Flag Mon Jul 23, 2012 Rental Basics in Plymouth
Susan Hoffla…, Real Estate Pro in Shoreview, MN
Susan Hofflander answered:
can i take over payment on a house before it goes into forclosure without having my credit ran?
Hi, Ms. Pettiford!

I would say the general rule of thumb applies here, "If it sounds too good to be true, it usually is". There are assumable loans, but I've never heard of one whe ... more
0 votes Share Flag Tue May 1, 2012 Rental Basics in Minneapolis
Kris Lindahl…, Real Estate Pro in Minneapolis, MN
Kris Lindahl Team answered:
I heard people renting homes they don't own to others and they go to move in to find out they were scammed. Whats the easiest way to prevent
Go to the home and ask the seller if they are trying to rent the home. If the home is vacant request the seller meet you at the home with proof of home ownership (Closing documents, mo ... more
0 votes Share Flag Tue Mar 27, 2012 Rental Basics in Minneapolis
Christopher…, Real Estate Pro in Bloomington, MN
Christopher Block answered:
My husband and I have an FHA loan on our current home with the 2008 first time home buyer credit. Can we rent our home after paying back to credit?
Good Answer Mike. I want to just reiterate that you can not go FHA twice in most circumstances. It is actually 2 years of rental income before it can be considered. I believe it is a ye ... more
0 votes Share Flag Mon Mar 12, 2012 Rental Basics in Minneapolis
Mary Jo Quay, Real Estate Pro in Burnsville, MN
Mary Jo Quay answered:
What are some tips for renters before signing a lease?
First of all, read it. I've noticed that some landlords have long, detailed leases with hidden clauses.
A client of mine gave verbal notice to his landlord with ample notice. H ... more
0 votes Share Flag Sun Mar 11, 2012 Rental Basics in Minneapolis
Mary Leizing…, Real Estate Pro in Eden Prairie, MN
Mary Leizinger answered:
My bank asks for my rental history but my renting management refuses to give that until I sign an vacancy notice. Is that legal?
In addition to cancelled checks, you might also provide your bank with a copy of your lease.
0 votes Share Flag Mon Aug 29, 2011 Rental Basics in Plymouth
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
Our property manager has not showed up twice for lease signing/walk-through. We are prior tenants, been there for 1-2 years. What are our rights?
For any legal questions you may have, do consult with an attorney who specializes in real estate, he/she will be your best source of information as it specifically relates to you. As fo ... more
0 votes Share Flag Sun Aug 8, 2010 Rental Basics in Minneapolis
Don Tepper, Real Estate Pro in Burke, VA
Don Tepper answered:
Landlord trying to cancel a rental agreement.
As the others advise, check with a lawyer. I'm not a lawyer, so this isn't legal advice. But based on my experiences in other areas, you might or might not have a binding cont ... more
0 votes Share Flag Sun Aug 1, 2010 Rental Basics in Saint Paul
Mack McCoy, Real Estate Pro in Seattle, WA
Mack McCoy answered:
Where is the best place for an investor to find current rental price information?
I would bet that most major metropolitan areas have some landlord or property-manager association that compiles market data.

Here in Seattle, residential real estate investors are wi ... more
0 votes Share Flag Sun Jul 11, 2010 Rental Basics in 55430
Dan Asleson -…,  in Minneapolis, MN
Dan Asleson - HALO Properties answered:
renter wants out of lease early, what are my rights for negotiating an early termination of the lease? If I find a tenant do I have to refund a
Let me preface, by stating I'm not an attorney, but I do own and broker a management company in the Twin Cities.

Unless there is a specific clause in the lease regarding an earl ... more
0 votes Share Flag Sat Sep 5, 2009 Rental Basics in 55423
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