Edina Property Management

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WHAT’S RIGHT FOR YOU?

• R.P. MANAGEMENT VS. THE COMPETITION+

  • R.P. Management, Inc., has been in business managing houses in the Twin Cities Metro area for over 30 years. Our training and experience is unparallelled.

  • We specialize in single family homes.  We don’t spread ourselves thin by trying to be good at managing a whole host of property types.  We are the best at managing one type – houses just like yours

  • We minimize your rent loss by getting new tenants in within 24 hrs of move out of the outgoing tenant.  That means we start the rental process as soon as we get notice to vacate from the current tenant.  Many management companies wait, costing you money.

  • We are the first company in Minnesota that is a Certified Residential Management Company from the National Association of Residential Property Managers (NARPM)

  • We also guarantee our service and our tenants.  We don’t lock you into any long term agreement. In fact, if you are not happy with our service, you can cancel at any time.  AND, within the first three months, if you are not happy with what we are providing, you can cancel and we’ll refund the management fees collected.  We also guarantee our tenant for the full duration of the lease, not just half the lease term.  If the tenant vacates at ANY time during their tenancy for ANY reason, we will re-lease the property for no charge to you.

  • We teach property management courses to other property managers all over the country

  • We have written courses for NARPM and written an on-line Risk Management class for America’s Best which is the premier on-line educator in the country

  • You are contractually liable for the actions of your property manager.  Doesn’t it make sense to have a property manager who understands and can manage the risks effectively?

  • We are actively involved nationally in the property management industry

  • We are one of nation’s top property managers of single family homes and one of the managers mentioned in the book Successful Property Managers by Michael Levy.

  • Once you become a “Preferred Owner” of ours, you will have direct access to your property manager through cell phone, direct office line and email

  • We are not only completely computerized, we are web-based, which means you have access to what is going on with your property from anywhere there is an internet connection.  In addition, your funds are electronically deposited into your account.  No need to go to the bank to deposit your rent checks

  • We are eco-friendly by use of our reduced paper programs.  All our leases and lease document are electronic and even electronically signed by our tenants. These documents are available for you to view at your convenience through your owner portal

  • We follow up with the tenants after every maintenance request to make sure everything was handled satisfactorily

  • We complete a final move-in checklist to make sure we not only meet, but exceed our tenant’s expectations upon move-in.

  • Anyone can collect rent and pay bills, but understanding all the risks associated with rental houses and how to manage that risk in order to keep our owners out of harm's way takes training and experience that we have at R.P. Management, Inc.

  • R.P. Management, Inc. is respected nationally in the real estate industry for our professionalism and experience

  • We provide real estate investment consulting services.

  • We provide options for our owners which include rent to own, master leasing, real estate joint-ventures and creative selling options for our owners

  • We personally own lots of investment property and are familiar with the creative financing side of real estate.

• UNSEEN VALUE+

  What value do we provide that is not paid for? List things they get but not paying extra for like all my experience and time in business. If you go to a medical specialist or senior partner of a legal firm, you pay more, in property mgmt., not the case. With RP Management as your manager, you get the best without the added cost.

  Anyone can collect rent and pay bills, but providing consistent service to you and your tenants while managing the risk is not something that should be left to a management company who focuses and specializes in marketing themselves. Nor should it be left with a company who doesn’t have the experience and education that we possess. Why is this important?

  Think of a time you have gone to restaurant and had a great experience. You will probably go back again. But then when you go back you have a bad experience; what is the change you will go back to that restaurant again. Very unlikely. Now, when your tenants have inconsistent experiences from a company that doesn’t focus on consistent service, you get a tenant who doesn’t come back or in a rental situation, they don’t renew. The most costly expenses you have with a rental property is turnover and vacancy caused as a result of tenants not renewing. Doesn’t it make sense going with a company that actually has processes in place to treat your tenants like GOLD which helps to keep them in your property longer? Well of course it does. These are the things we do behind the scenes to help make your investment more profitable.

• SELF MANAGEMENT VS. PROFESSIONAL+

  What is the best option for me?

  There are times when self management makes sense...

  1. If you have the time, and understand all the laws, you can certainly save time managing the property yourself. Just understand that you don’t know what you don’t know. Please refer to our eBook on the 10 problems landlords face. This will give you a lot of good information on what you need to know if you’re going to take on the task of managing the property yourself.
  • The difference is experience and education and this eBook is designed to give you the education.
  • Self-managed landlords are fearful of the cost of professional management but most self-managed landlords tend to not increase rents for fear of tenant moving out and all the time it will take with turn over, re-leasing and potential vacancy.
  • Self-managed landlords tend to be slower on maintenance and tenants evaluation experience and renewal based largely on maintenance.

• SECTION 121 - WHAT YOU NEED TO KNOW+

  Section 121 of the Internal Revenue Code, which is often referred to as the 121 exclusion, generally allows homeowners to sell real property held (owned) and used (lived in) as their primary residence and exclude from their taxable income up to $250,000 in capital gains per homeowner, and up to $500,000 in capital gains for a married couple filing a joint income tax return.

  Primary Residence

  The 121 exclusion can only be used in conjunction with real property that has been held and used as the homeowner’s primary residence. It does not apply to second homes, vacation homes, or property that has been held for rental, investment or use in a trade or business.

  Qualifications

  Homeowners are required to have (1) owned and (2) lived in the real property as their primary residence for at least a combined total of 24 months out of the last 60 months (two out of the last five years) in order to qualify for the 121 exclusion. The 24 months does not have to be consecutive. There are certain exceptions to the 24 month requirement when a change of employment, health, military service or other “unforeseen circumstances” have occurred.

  Simply put, if you have been living in your home as your personal resident for at least 2 years and have equity in the home, talk to you accountant or financial planner about this exclusion. The last thing you want is to rent it out longer than the above qualifications indicate. When you go to sell the home, not only could you be in a situation where you no longer qualify for the capital gains exclusion, you could be hit with capital gains tax.