Property Manager with affordable tenant placement in Minneapolis

[Forrest Holden]

I used to own 4 rentals in west Texas.  My property manager only charged $300 for tenant placement.  I understand that I probably can't get that rate in Minneapolis, but I honestly feel that a full months rent for tenant placement is highway robbery.  Does anyone know of any managers or management companies that are actually reasonably priced in the Metro?  If not I may just have to start a property management firm and crush the competition.

[Amber Gonion]

@Forrest Holden prices vary here in Mn, larger companies charge more and you may get a great PM or a crappy one as they have dozens. Our prices are $75/unit per month and 1/2 month rent for placement.

What you are paying for is #1 ensuring you are not sued for unknowingly violating fair housing laws, #2 ensuring your property is priced correctly according to comps, the best property manager cannot fill a unit with good tenants if it is $300 over market rate. #3 properly market your property accentuating the positives of the property. Peace of mind knowing that maintenance, both preventative and emergency maintenance are taken care of.

Questions to ask your prospective PM are what is your fair housing training besides the CE credits for your RE license, what certificates do you hold, how much experience do you have, what is you maintenance crew like (what kind of experience, how many, after hours?)