For Rent MN: Homes for Rent in Minnesota

We are helping anyone who wants to pay less than $1200/mo find rental properties. If you are looking to pay over $1200/mo for a place to rent, we may recommend a townhome, or condo and upgrade to a rent to own, something you can eventually own in 1-3 years. If your maximum amount you can afford is $1200 or less, the chances are a mortgage payment someday will be more than $1200 on a rent to own with financing, principle + interest+ taxes + insurance, so to get what you can afford, we’d recommend a place to rent. This may include condo, townhome, apartment, duplex, triplex, 4plex, sometimes small houses are a possibility also.

If you are looking for a place to rent, we’d recommend looking 30+ days ahead of time. Sometimes 60 days works well also, but I find anything ahead of that is almost too early to pick a place, it’s ok to search and look at places. One thing you need to keep in mind is that you give your landlord proper notice as it states in your lease. At the end of your lease term you should still say that you won’t renew, or sign another, that would be the right thing to do. Remember to keep the place in good shape and before you move-in it’s recommended you do a move-in form, and a move-out form when you move out at the end of your term, this is so both the landlord and renter are in agreement that the place is in the same condition. If you leave the place in great shape, rent is current and all utilities and water bills you are responsible for are up to date and the landord is going to return your deposit, then he/she has 3 weeks to do so. If anything is to be held back or a change, then it should be stated in writing why part of the deposit is retained or changing.

It’s pretty common that when you get a property to rent you will need your 1st months rent up front, and then you will also need something equal or more in value to be used as a deposit. Please let me clarify for both landlords and tenants, this deposit “is not” last months rent, and the reason is you can’t cause some damage, and then just say I’ll use my deposit as the last months rent, that would leave the landlord short money, that wouldn’t be right.

Also landlords and tenants need to speak about pets, smoking, painting, other occupants, etc ahead of time. Landlords need to keep in mind they can not discriminate when they are looking for tenants. Interest needs to be paid on the deposit of the tenant. At the time of this writing it’s 1% simple interest annually on the deposit amount. This changed in August of 2003. Prior to that date it was 3% for quite some years. Remember if you need a place to rent please email me anytime at ron@minnesotainvestors.com Please keep in mind if you have a 600+ credit score and can do $1400 per month we may want to help you finance or do a contract for deed.

please contact me ron@minnesotainvestors.com and we’ll help you find a property.

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