Frequently Asked Questions - Homeowners
1. Can you guarantee when you will have the property filled? Although we would love to be able to predict the future, we are not able to guarantee that a property will be filled within a certain time. We do know, however, that on average if a property is priced right we are able to fill it within 30-45 days.
2. Can I pay your fee over the course of a year? The fee that we charge is due at the time of the lease signing.
3. Is it better to price a property correctly or advertise a higher than average rental price in the beginning with the idea of lowering the price if it does not get any action? Advertising high with the idea of lowering later does not work and often has the opposite affect. This tactic can push people away from a home they would otherwise be interested in and waste valuable time and time is money.
4. Do I need a rental license? This requirement varies by city, check your local official city website to find out if you need one. Around 80% of the cities in the metro area do require a rental license, and it's the homeowner's responsibility to obtain such license prior to placing a tenant in the property.
5. What is your price? Our fee is one month's rent.
6. What websites are you on? We market on 56+ websites and also use a number of print media sources. This assures you that your property will receive the maximum exposure.
7. What does your background check cover? We run a comprehensive income, asset and job verification as well as a full criminal report.
8. Will you seek out current and previous employers and past landlords? We contact current and previous employers and past landlords when questions about applicants arise.
9. What kind of Minnesota homes do you focus on renting and managing? Homes, townhomes, condos and lofts throughout the Minneapolis and St. Paul areas.
10. What types of management package? For information on rental management click here. (link to RM page)
11. Can you mail me information on your services if I live out of state? We would be happy to mail you any information in which you request.
12. Are you licensed realtor? Yes, all BSL rental agents are licensed real estate agents in the state of Minnesota.
13. Are you familiar with the various suburbs of Minneapolis and St. Paul? Yes. The BSL has territory specific leasing agents whom work in their designated territory daily. The specialization means each agent is an expert in their specific territory and therefore can help you make a well-informed decisions concerning your property.
14. What is your application fee? $50 per person or $75 for a married couple.
15. Do you guarantee tenants? We do our best to find a qualified tenant that meets your requirements. The homeowner gives the final OK on any tenant.
16. Apart from renting my home can you also assist us in selling? Yes. We can help with both.
17. How long does it take to find a tenant? It's best to begin marketing the home immediately. Our typical turnaround time is 30-45 days.
18. Is your fee negotiable? Many costs go into leasing a home including marketing, coordination, project managing and negotiation. BSL charges an industry standard fee for these services-one month's rent.
19. Can you manage eviction if necessary? In the rare case that an eviction is needed we will assist you with the process and place another tenant in your home just as soon as we can vacate the previous.
20. Do you have any testimonials and can you provide references? We would be glad to provide testimonials of our service. Many testimonials are placed throughout this site. If you would like more, please contact us and we will be happy to accommodate your request.
21. Can I keep marketing the property on my own as well? You are able to advertise the property on your own, however, doing so often leads to confusion when tenants are searching for a home. This could result in driving tenants away. Also, it's important to note that if you fill the property on your own you are still liable to compensate BSL per our agreement. We recommend leaving the marketing to us.
22. What is my house worth on the rental side? Each rental territory in the Minneapolis and St. Paul area is as unique as each home. Please contact one of our leasing agents for specific information about your property.