Benefits of Owning Rental Property in Minnesota

At our experienced Twin Cities property management service company, we talk daily to homeowners throughout the Minneapolis St. Paul metro area. Some own a single residential house and are buying a new home. Others are estate executors, dealing with ownership of a house in difficult circumstances. Many others are interested in discussing the idea of becoming real estate investors and building a portfolio of rental houses. All have questions that need answers, and most of those questions have to do with how owning rental property might help them build wealth through steady rental income. As successful real estate investors ourselves, we enjoy discussing the pros and cons of being a landlord with our clients.

We have helped hundreds of rental home owners realize their investment goals, create reliable income, and enjoy healthy cash flow from their residential property in the Minneapolis St. Paul metro area. Regardless of housing market conditions, we have shown them how renting their high-quality homes to reliable, careful renters makes excellent economic sense, for today and into the future. Some of the ways owners benefit from leasing homes include:

• Wealth Building – Despite fluctuations in residential real estate prices, the fact is that good quality homes increase in value over the long term. Owning even one well managed home that is leased to qualified tenants is an investment in long-term growth and stability. Owning multiple rental properties is a time-tested strategy for building wealth.
• Cash Flow – Well maintained and carefully managed rental homes are attractive to tenants and create a steady flow of cash from rent payments. That cash flow can make mortgage payments and take care of maintenance needs as the value of the home appreciates in value over time. With fully owned properties, it represents substantial income.
• Tax Benefits – As a rental property owner, you are a small business. What that means is that the costs of the property are tax deductible. In addition, any fees you pay for professional property management for a rental home are also tax deductible. Depreciation can also lead to tax savings. We will help you understand these tax benefits as part of our service to you.
• Real Estate Market Opportunities – Whatever the state of the Minneapolis St. Paul real estate market may be at any time, there are always attractive opportunities to invest in residential properties and single-family homes. Currently, rental vacancy rates are very low, and opportunities for purchasing homes at excellent prices are still plentiful. As a specialist in distressed property, our professional Minnesota rental home management company and real estate brokerage can assist you in finding potentially profitable investments.
• Quality Matters – Attractive, comfortable homes find tenants quickly and retain those tenants over the long term. As a licensed residential building contractor in the Minneapolis St. Paul area, we partner with the best local contractors, including HandyQuick Home Maintenance Services and others, that provide top quality services to our clients for any needed rehabilitation and upgrades to help owners make and keep their properties attractive to tenants. Rates for these services are highly competitive and all work is done to meet the highest standards.
• Owning Just One Rental Property Is a Wise Choice – For many homeowners, moving to a new home creates an unexpected opportunity. Instead of selling the previous home, keeping it and renting it out can be the beginning of investing in real estate. An inherited home is also an opportunity that has given many people solid rental income.
• Professional Rental Management Gives You the Edge – Being a landlord can be a complex job. From finding, screening, and retaining good renters and dealing with legal responsibilities to handling maintenance requests and maintaining the required records, many rental property owners don’t have the necessary time and expertise. Professional property management is affordable and takes these burdens from the shoulders of property owners. When you consider the value of your own time, hiring a trusted Twin Cities property management company is a proven strategy for success.

Experienced, Trusted Minneapolis St. Paul Rental Property Management Services

33rd Company has 20 years of experience in providing professional property management in the Twin Cities. As a full-service company, we offer not only rental home management, but also are a licensed real estate broker and a licensed residential building contractor. That combination, along with our strong reputation for service, our extensive marketing network, and our knowledge of the rental real estate market in the Twin Cities, makes us a logical choice to manage your individual property or a portfolio of residential homes. We encourage you to contact us for a free, no-obligation consultation. We will help you evaluate your needs and show you how our professional management helps our clients achieve their goals.