Owning a rental property is a great way to expand your portfolio and secure a successful financial future. But managing a rental property can be a full-time job as you handle maintenance and repairs, 24/7 emergencies, tenant management, rent collection, paperwork, and so much more. Turn your property into a true passive investment with our Rental Management Program that takes away all the stress and hard work that comes with property management, so you can sit back and enjoy watching your investment grow.

Our management team understands landlord/tenant laws including the federal Fair Housing Act as well as state and local regulations. We know how to find and keep quality tenants. Our in-house maintenance division, IDEAL Maintenance, works with local industry connections to save you money on repairs with priority service at preferred rates. And we know how to process accounts payable (taxes, association dues, insurance), accounts receivable (rent, utility payments, pet and security deposits), and file the necessary paperwork and financial documents (evictions, year-end tax documents, 1099s, CRPs, rental licenses).

Use IDEAL Management for all your rental management needs.

Services and fees are outlined below.

SERVICES

1. Publish rental advertising via:

• Internet and intranet
• Internal network group
• Realtor affiliation (Zillow, MLS, etc.)

2. Accept tenant calls and answer tenant inquiries

3. Schedule showings and guide tenants through the property

4. Conduct tenant background and credit check reports

5. Facilitate legal documentation:

• Lease Agreement
• Lease Addendum
• Lease Amendment
• Rental Application
• Pre- and post-occupancy inspections

6. Remit accounts payable:

• Association dues
• Insurance
• Mortgage, loan and line of credit
• Property taxes
• Utilities

7. Collect accounts receivable:

• Rents
• Damage, pet and security deposits
• Fees and utility reimbursements

8. Prepare and distribute monthly financial statements

9. Maintain and file rental activity correspondence

10. Enforce rental licensing laws

11. Enforce association rules and regulations

12. Facilitate tenant evictions

13. Hire, monitor and manage subcontractors for maintenance, repairs and renovations

14. Arrange for rental licensing inspections

15. Process year-end tax forms: 

• Tenant: Minnesota Certificates of Rent Paid (CRP)
• Owner: 1099
• Vendor: 1099

FEES

Finder’s Fee: 1 month’s rent ($600 collected up front) – includes services 1-5

Management Fee: $120 per property unit per month (multi-unit discounts available) – includes services 6-15

Lease Renewal Fee: $300 per property unit per lease

Thank you for considering Ideal Properties, a full-service real estate property management brokerage. Next, you will want to understand Ideal’s step-by-step Processes and Procedures for investment property rental.

Click here to read our Process and Procedures