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rentals management

ABOUT RENTALS MANAGEMENT

Whether you already own a condo or you’re looking to purchase an investment property, managing a rental takes time and energy, but it doesn’t have to be yours! DRG Rentals Management can be as involved as you’d like. From simply handling the funds or everything from paperwork, licensing, tax forms, rent collections, phone calls and repairs...we do the work and you reap the benefits!

Contact the team

OUR MANAGEMENT TEAM

Income property is one of the smartest investments you can make. There's more to being a landlord than placing an ad…our team saves you time and hassles with proven systems, policies and procedures. We handle everything from start to finish - you simply collect the checks! Use our expertise to get the most out of your investment.

On Demand

$25/mo

or $200/yr if paid up front

We’re more than happy to collect the monthly rent checks from the tenants, keeping the burden off of you.  The last thing that you want to have to worry about is chasing down a late rent payment, so we’ll do that too!  We’ll even help you get the mandatory rental license from the city and coordinate your annual renewals.  You can still have us help you with other services along the way on an a’ la carte basis.

Administrative

$75/mo

'Almost everything' management.

If you want to get the most out of your investment property, you’ll need to be organized.  With the Administrative Package, we execute professional-level pre + postlease walkthrough inspections documented in detail with photos, video, and tenant-signed forms; we’ll electronically store your lease, license, inspection records, photos of property for insurance, maintenance invoices, year-end forms, etc; complete quarterly check-ins to ensure your tenant’s care of the unit and their satisfaction with it; register and update city-required licenses annually; issue year-end Certificates of Rent Paid; send you monthly and year-end accounting statements; and provide annual tax statements to you, your tenants, and any contractors that worked on or in your unit. Yeah, it’s a lot! That’s why we’d rather do it for you anyway. It doesn’t happen often because we are so proactive, but if an eviction becomes necessary we’ll be sure to tackle that process as well.  Sorry though, we won’t be covering any legal fees.  Lastly, under this package you choose to manage any repairs or maintenance items – or you can have us coordinate those for a fee as they come up.

Full Package

$99/mo

We'll take care of everything!

If you want to get the most out of your investment property, you’ll need to be organized. With the Full Package, we execute professional-level pre + post-lease walkthrough inspections documented in detail with photos, video, and tenant-signed forms; we’ll electronically store your lease, license, inspection records, photos of property for insurance, maintenance invoices, year-end forms, etc; complete quarterly check-ins to ensure your tenant’s care of the unit and their satisfaction with it; register and update city-required licenses annually; issue year-end Certificates of Rent Paid; send you monthly and year-end accounting statements; and provide annual tax statements to you, your tenants, and any contractors that worked on or in your unit. It’s a lot, that’s why we’d rather do it for you anyway. It doesn’t happen often because we are so proactive, but if an eviction becomes necessary we’ll be sure to tackle that process as well. Sorry though, we won’t be covering any legal fees. Under this package you choose to manage any repairs or maintenance items – or you can have us coordinate those for a fee as they come up. No midnight phone calls, no emergency maintenance calls, no “um, hi….I’m locked out of the condo” and no messing with changeovers when the tenant’s lease expires. The only thing you have to do is watch the cash come in and your mortgage go down; you know…the fun stuff!

On Demand

$25/mo

or $200/yr if paid up front

We’re more than happy to collect the monthly rent checks from the tenants, keeping the burden off of you.  The last thing that you want to have to worry about is chasing down a late rent payment, so we’ll do that too!  We’ll even help you get the mandatory rental license from the city and coordinate your annual renewals.  You can still have us help you with other services along the way on an a’ la carte basis.

Full Package

$99/mo

We'll take care of everything!

If you want to get the most out of your investment property, you’ll need to be organized. With the Full Package, we execute professional-level pre + post-lease walkthrough inspections documented in detail with photos, video, and tenant-signed forms; we’ll electronically store your lease, license, inspection records, photos of property for insurance, maintenance invoices, year-end forms, etc; complete quarterly check-ins to ensure your tenant’s care of the unit and their satisfaction with it; register and update city-required licenses annually; issue year-end Certificates of Rent Paid; send you monthly and year-end accounting statements; and provide annual tax statements to you, your tenants, and any contractors that worked on or in your unit. It’s a lot, that’s why we’d rather do it for you anyway. It doesn’t happen often because we are so proactive, but if an eviction becomes necessary we’ll be sure to tackle that process as well. Sorry though, we won’t be covering any legal fees. Under this package you choose to manage any repairs or maintenance items – or you can have us coordinate those for a fee as they come up. No midnight phone calls, no emergency maintenance calls, no “um, hi….I’m locked out of the condo” and no messing with changeovers when the tenant’s lease expires. The only thing you have to do is watch the cash come in and your mortgage go down; you know…the fun stuff!

FREQUENTLY ASKED QUESTIONS

Why should I use DRG Rentals Management?

In a nutshell, DRG Rentals Management (DRGRM) acts as landlord for owners who can’t, or don’t want to, be landlords. Doing it right takes lots of small investments of time – phone calls, licenses, visits, tax accounting, repairs, emergencies, inspections, monthly reporting, year-end forms and filings, etc. But doing all those things right actually more than pays for itself in longer (and happier) tenancies, hugely decreased vacancy costs, and accurate and appropriate security deposit management. On average, having DRG manage your property you actually come out money ahead!

If DRG manages my property, do I still retain some control?

Absolutely. We are here to be of service to you! We keep you informed about your tenants and your property, and at all times you have the right to direct us in how you would like your property managed. You also have the right to set parameters and have us simply work within those parameters!

Will you help me get a rental license?

Yes. We work every day with the folks in licensing at the city. We can help you procure, renew, and/or update your license.

Is my tenant charged a security deposit or pet deposit?

Typically, if DRG is leasing your property for you our leases stipulate one month’s rent as a security deposit. As for the pets, they aren't allowed without your permission and we'll be sure to have that written in the lease. Should you be open to the tenants having a pet(s), we'll be sure to collect a pet deposit (refundable) or fee (non-refundable) for each animal.

What happens to the tenant’s security deposit once they've moved in?

DRG and DRG Rentals Management do not hold security deposits. If DRG leases your unit for you, we collect first month’s rent and security deposits. We deduct our leasing fee, and the remainder is sent to you. At the end of the lease, we execute a post-lease inspection. At that time, if there are issues that will impact the security deposit we walk through those with you, providing documentation and directing you on the return of the deposit.

Does DRGRM ever enter the unit during tenancy?

Yes – depending on the services package you choose. With the Full Management package, we conduct Pre- and post-lease inspections. These are thorough inspections of the property documented both photographically and in written format. You will receive copies of both of these inspections, as will your tenants. Quarterly check-ins. These are for the benefit of both the tenant and the owner. These provide “eyes on” the property at least every three months, and also give your tenants opportunities to bring to light any small maintenance issues that did not at the time warrant a repair call. ADDITIONALLY, these check-ins provide us with the chance to talk with the tenant about their plans regarding purchase, renewal, or vacating, so that you as an owner can be proactive about avoiding vacancy costs! Repairs and maintenance. Often when there is a repair required or maintenance work done at your property, a DRGRM Coordinator is involved on site.

Do you pay the bills for me?

Any repairs we coordinate for you we pay for on your behalf, simply deducting those amounts from the next month’s rent. We do not pay recurring bills such as HOA dues, utility bills, mortgage payments, or property taxes.

When do I get my monthly statement and check after the tenant pays their rent?

Rent payments are due on the 1st of each month from your tenant. Some tenants pay by check, some pay via one-time electronic transfer, some by recurring electronic payment. After that check is received or the electronic payment is initiated, it may take up to five banking business days for the initiating bank to notify our bank that a payment was returned for non-sufficient funds; accordingly, there is a five-banking-day holding period on all rent payments. After that period, we initiate a direct deposit into your account; that payment is usually received within twenty-four to forty-eight hours (one to two business banking days). Given these turnarounds, holidays, weekends, etc. we tell our owner clients to expect rent deposits on or before the 10th of each month. Monthly statements are sent out on the 15th of each month.

Does DRGRM file year-end tax forms for me?

Yes. Per Minnesota statute, your tenant will receive a Certificate of Rent Paid (CRP). Any contractors that DRG paid more than $600 to on your behalf (including DRGRM) will receive 1099s. You will receive year-end Cash Flow Statements (a summary of cash flows), year-end Owners Statements (an itemized history of transactions), and a 1099 – all of which can be used by your accountant to take maximum tax advantage of your property investment.

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