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Property Management – Minneapolis St. Paul, MN

Real Estate and Property Management Services in the Twin Cities area

33rd Company® provides residential property management services in the Twin Cities Minneapolis & St. Paul Minnesota metropolitan area. We specialize in single family homes, and can rent your home quickly!

33rd Company® is a CRMC® Certified Management Company that has been providing asset management services since 1993.

We manage privately owned residential properties and have expanded our line of services to include full service Residential Property Management, Licensed Real Estate Brokerage, Real Estate Consulting Services and HOA Management.

News & Events

How to Interview a Minneapolis Property Management Company

Tom Sedlack - Tuesday, December 16, 2014

Our topic today is picking a property management company and what you should be asking professional managers during the interview process. This is probably one of the most important decisions you can make. It’s even more important than picking tenants because the management company will ultimately be responsible for finding you a great tenant.


We believe 33rd Company® is one of the finest property management companies nationwide, and we want to tell you what kinds of questions you should ask when you’re picking a manager for your rental property.  


Who Signs the Lease?


The first question to bring up is about the lease and the party responsible for signing it. This is a fundamental decision when looking for a property manager. At 33rd Company®, we actually sign the lease on behalf of the owner. This is important in limiting your liability and risk. When your name is there, you can be named as a party in the lawsuit. When you’re an independent landlord working with a property manager, the last thing you should have to worry about is a summons to court for a HUD complaint or a security deposit issue. Ask a potential property manager about who signs the lease with the tenant.


Remember that Realtors are not property managers. A lot of times Realtors just facilitate the rental. They don’t do a thorough job of screening and they have no experience in management. They don’t know how to incorporate income thresholds or guidelines for screening. When you work with a Realtor instead of a property manager, you’re taking full liability and responsibility for that lease and the tenant.


What Certifications do you Have?


Certifications are important for management companies and you want a property manager that has them. Find out if the property manager is a member of national associations. The most important associations are the National Association of Residential Property Managers (NARPM) and the Institute of Real Estate Management (IREM). These are just two of the national organizations your management company should belong to and be certified by.  


How do you Communicate?


Always ask about a property manager’s communication methods. You will want to know what kind of online portals they use and what kind of communication system they have. Ask if they’ll contact you regularly and if you get weekly statistics to explain the performance of your rental. You want a company that is proactive in finding responsible tenants and making sure your leasing experience is a successful one.  


If you have any questions or you’d like to interview us for your property management needs, please contact us at 33rd Company, and we’d be happy to talk with you.

Property Management in Minneapolis… the Good, the Bad and the Ugly

Tom Sedlack - Wednesday, December 10, 2014

 

 

Today, we are talking about the good, the bad and the ugly of residential property management. When individuals turn their keys over to a professional property manager, they want to know how much risk they are taking on and how much work they’ll have to do personally. Risk and cash flow are the most important concerns, and a good property manager can have a huge impact in both areas.


Finding a good property manager means there will be a lot of risk deflected away from you. Good property managers will protect you with a strong lease, good terms and conditions through effective day to day management with excellent policies and procedures.


At 33rd Company®, one of the best things we do to keep you protected is to keep your name off the lease. Believe it or not, one of the most fundamental things that can put an owner at risk is signing the lease with the tenant. This puts all the risk and the potential of being named in a lawsuit on an owner’s shoulders, which defeats the purpose of hiring a property management company.


We sign the lease on your behalf. Your name isn’t on there and the tenants are not allowed to contact you. We do this for your personal protection. Many owners don’t know the laws and can get themselves into trouble. For example, if an owner meets the tenant and sees she has a small child, that owner might say something like “I thought we weren’t renting to children.” That’s a familial violation of a federal law. The fine starts at $11,000, and it can turn into an ugly lawsuit.


Good property managers will know the law. 33rd Company® has the experience and policies and procedures in place that navigate you through the local, state and federal laws. We protect you by signing the lease on your behalf.


Certifications can also differentiate good property managers. The CRMC® – Certified Residential Management Company – has only been awarded to 50 companies nationwide. This establishes us as having good procedures and rules in place as well as competent well-trained employees who follow the rules and the laws to make sure every single home has a successful outcome.


Simply placing a tenant is not management. A lot of Realtors and discount management companies have jumped into the property management game in the several years with the downturn in the housing market. Unfortunately, Realtors don’t do day to day management. They don’t know how to set screening standards or deal with delinquencies. All they do is find a warm body that will sign a lease and move in, and then the keys and lease is turned over to the property owner. In most cases, this is not the best solution. You want an experienced manager who knows where to set the screening guidelines. You want someone with the experience to deal with delinquencies and provide proven processes.


Finally, good property managers COMMUNICATE. Communication is the overarching requirement to keep owners, tenants and homes going in the right direction. If you have any questions about how to differentiate between the good and the bad property managers out there, contact us at 33rd Company, and we’ll get you in the right direction.

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33rd Company, Inc.®
1800 Wooddale Drive, Suite 100
Woodbury, MN 55125
(651) 777-5500
Fax: (651) 777-5501)

33rd Company, Inc.®
3240 East River Road NE
Rochester, MN 55906
(507) 933-4500
Fax: (507) 933-4501)

33rd Company KS, LLC
7301 West 129th St. Suite 100
Overland Park, KS 66213
Phone: (913)-220-2200
Fax: (913)-297-7300

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