Frequently Asked Questions

From tenants

  • All our ads include the following information:
    • Price of the home
    • Availability date
    • Number of bedrooms and bathrooms
    • Square footage
    • Address or map of location
    • City in which the home is located
    • General description of the home
    • Pictures
    • Video tour (usually available)
    • Pet policy
    • Utilities that tenant pays
    • Lawn care and snow removal (if applicable)
    • Any additional fees
    • Web address to book a showing

  • Yes. All application fees are $55 per adult who will live in the home.

  • Click this link to be taken to the rental lease application form. Select the Minneapolis office, and click “Apply.” From there, you’ll set up your account and proceed to the application.

  • Once you apply, your application will be sent for review. If you are a viable candidate, your application will be sent to the owner.

    If the owner approves, we will arrange a meeting with you for you to sign a hold agreement. Make sure to bring your first month’s rent, as well as an additional $157 to cover processing. Ensure that the money is in the form of a cashier’s check or money order made out to “Renter’s Warehouse.” Please note that personal checks will not be accepted.

    Once the lease is signed and a move-in date is set, you will need to bring a second cashier’s check or money order for a damage deposit (usually equal to one month’s rent), plus pet fees and any prorated rent. This cashier’s check or money order will also be made out to “Renter’s Warehouse.” At that time, we will complete a move-in inspection and meet you at the property to give you the keys!

  • Yes, although they will only need the financial information submitted as they will not reside in the property.

  • It depends. Some of our homes are managed by Renters Warehouse and some owners opt to do it themselves.

  • The state of Minnesota has its legal service animal policy outlined here. Please note that service animals must have proper documentation from a qualified party.

 

From Landlords

  • If you choose Renter’s Warehouse to manage your property for you:

    1) We assist with the security deposit and pet deposit distribution at the end of the lease. Therefore, any deposits will be held in our trust account for the duration of the lease. We do not collect interest on this trust account. Per Minnesota law, it is the owner's sole responsibility to pay simple, non-compounding 1% interest annually on security deposits.

    2) We will retain all late rent fees. This covers the extra time needed on your file above and beyond normal management and is industry standard.

  • If you are managing your own property:

    1) You will hold the security deposit during the lease. We can either collect the security deposit for you, or you can collect it directly from your tenant(s). If we collect the security deposit for you, the funds won’t be immediately available. Instead, they will be wired to you after processing, usually within two weeks. Because of this delay, most owners prefer to have the tenant(s) pay the security deposit directly to them on move-in day.

    2) You must coordinate move-in with your tenant. You will need to schedule a time with your tenant to meet at the property on move in day to pass off the keys, garage door openers, etc.

  • Please let us know before we begin marketing your property if there is anything that does not work properly that you don not intend to fix prior to tenants moving in.

    Also, please inform us if there is anything at your property the tenants do not have permission to use. This could include appliances, gas fireplaces, garage door openers, hot tubs, etc.

  • Yes. All owners are expected to thoroughly clean or have your property professionally cleaned prior to any tenants moving in.

    Additionally, you may be asked to perform maintenance or cleaning to the property prior to move-in as a term of acceptance by an applicant. If you are not willing to perform such tasks as requested, it is within your rights to deny the lease.

  • Understand that Renter’s Warehouse warranties the tenant, not the rent payments. However, if rent is unpaid we have a highly skilled Rent Collection Team that will do everything they can do legally to collect rent on your behalf, but the warranty does not cover lost rent.

  • Yes, you can deny an applying tenant. However, we must receive in writing or by email why you are denying a tenant, whether it be poor credit, criminal history, rental history, etc.

    Per Fair Housing Law, it is illegal to deny tenants based on any of the following categories:
    • Race
    • Sex
    • Color
    • Religion
    • Familial Status (children)
    • Public Assistance
    • Sexual Orientation
    • Marital Status
    • Disability
    • National Origin
    • Creed
    • Age

  • By law, we must forward any and all tenant applications directly to you for your approval or denial. Regardless of the quality of the application, we are legally required to send you any and all applications.

    Also by law, we are not allowed to “stack” several applications and send them all at once. We must send all applications to you in the order they are received, one at a time, for your approval or denial.

    Additionally, please note that the quicker you approve or deny applications, the sooner you will have a tenant moved in! Time is of the essence.

  • Thanks for asking! We generally prefer email for all our communications. However, if you prefer a different method, please let us know.

    Obviously, if something is time-sensitive, we will reach out by phone or text.

  • The upfront commission we receive is based on the term length of the signed lease. For instance:
    • 0-17 mo = 1 month’s rent
    • 18-35 mo = 1.5 month’s rent
    • 36+ mo = 2 month’s rent

  • If you choose to sign up for both Tenant Placement and Tenant Management, and you sign a 1 year lease, Renters Warehouse will retain out of monthly rent:
    Month 1: All rent for finding you the tenant (Tenant Placement Fee)
    Month 2: $99 Management Account Set Up Fee
    ◦ $218 ($109 x2) for month 1 and 2 of Management Services
    ◦ $400 Operating Fee (this will be returned to you at the end of the lease)
    Months 3-11: $109 Management Fee
    Month 12: $109 Management Fee ($400 Operating Fee will be returned to you)

    Also, once a year in January, owners are charged $10 for the production of and postage for the Certificate of Rent Paid form that is mailed to your tenants.

  • Sometimes. In most cases, it is within your rights as the owner to not allow pets at your property.

    However, if an animal is deemed an emotional support animal (ESA), you are legally required to allow the animal at your property. You are also not allow to charge an additional pet deposit for ESA’s, since they are not legally classified as “pets.” If there is any damage done by an ESA, you can use funds from the tenant’s security deposit for repairs.

    Knowing this, if having an animal at your property is a deal breaker, you should reconsider leasing your property.

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From Home Buyers

  • Working with home buyers is one of the most rewarding parts of my career. Having helped hundreds of buyers over the past 20+ years we enjoy working with them to find the perfect home. Our first step is to arrange a one on one consultation to determine the following:

    *Ideal price, size and location of the home you want.

    *Discuss how the process works and setting proper expectations.

    *Determine your best mortgage financing options.

    *Set a time frame and schedule for the process.

    *Set you up on a daily MLS hot properties email campaign.

    *Address any challenges that may come up based on your overall profile.

 

From Home Sellers

  • Our Pre-Listing Packet includes the following information: