My wife’s company is moving to Eagan which will make her commute over an hour 1 way from our current house and we are looking into buying closer to her new job. I don’t want to sell our house so I have been thinking about using renters warehouse to manage the renting.
Does anyone have a rental property and use RW?
How do you like the service?
any issues with how they operate?
I am a former building maintenance tech so I can fix any issues that need attention so that part doesn’t worry me.
I think they take 10-20% fee for their services. To me, if I was willing to have someone in my house, I would prefer to handle things on my own.
Eagan is a great place to be!!! Welcome to the neighborhood. LMK if you want a ride on Pool 2.
its more about finding and keeping renters for me. I think they take a first months payment then like 10% per month. I guess I could deal with it but it would be nice to have the convenience of them collecting rent and replacing renters etc…
If we move down there I’ll take you up on that offer 
Hey Fishwater83. I work at RW as an Advisor. Let me know if you have questions.
We rented a property by ourselves for about 5 years. We had a good pool of renters because the company I worked for brought people into MSP for 1 or 2 year assignments. It was mostly young people and the condo was downtown so that worked well.
Even though doing it ourselves was fairly easy, the calls late at night to fix clogged drains or leaky faucets was extremely annoying. Murphy’s law says that drains only clog at 10pm on Sunday night in a blizzard.
We have friends that use RW and say it works great. For the sheer convenience factor I would do it.
Slightly off topic, also look into the tax implications of renting.
Became and accidental landlord for my wife’s condo when we got married. Depreciation and other things will impact profit/loss possibly as much as rent and repairs. Sold it last year and this is the hindsight 20/20 I wish I knew.
Slightly off topic, also look into the tax implications of renting.
Became and accidental landlord for my wife’s condo when we got married. Depreciation and other things will impact profit/loss possibly as much as rent and repairs. Sold it last year and this is the hindsight 20/20 I wish I knew.
Good call here, I hate to give tax advice because every situation is unique. But when I moved out of my duplex, I rented it for almost three years and sold. I think the law was that if you lived their two of the last five years, it can still be classified as your primary residence for tax purposes and if you sell, you pay no capital gains. But this is from many years ago, so don’t take my word for it. But at the time, this was huge savings for me, since the value had nearly doubled in the 5-6 years I owned it and those gains were tax free.
RW atracts the bottom dwelers. They make their money off screwing the renter after lease is done. Is that not right Kellen? They train there agents to take advantage of the naive. Be carefull there is a reason they spend so much money on advertisement on certain radio stations.
Man its scary that someone has an algorithm that announces of a keeyword to a salesman. That was a funny ironc thing.
Man its scary that someone has an algorithm that announces of a keeyword to a salesman. That was a funny ironc thing.[/quot
Just saw he only has one post and its to this thread. his account was created yesterday. that’s nutty
Heard it’s pretty much a scam and once they have you locked in it’s tough to get out
I’ve heard from a couple people that basically all they do is find a tenant, collect the money, and take their percentage. If you have a problem with a tenant it is very hard to get them to do anything like evict. They don’t care if the tenant is trashing the home as long as they are getting their money.
I’ve heard from a couple people that basically all they do is find a tenant, collect the money, and take their percentage. If you have a problem with a tenant it is very hard to get them to do anything like evict. They don’t care if the tenant is trashing the home as long as they are getting their money.
ive heard the same. they do a great job filling the house with tenants. After they get theirs they don’t care beyond that. But this is hearsay so take that for what you will
Yes Fishwater83. It’s a great tool to find people that are interested in your service and/or business. Anyway. If you are curious about our services, I am happy to talk with you. It’s not a scam. We have a lot of good people at RW and they care. You can take the word of people online here, that I’m sure have good intentions, but I don’t see anyone here that has direct experience. I’m happy to honestly answer your questions about RW and other management companies. I grew up in the SW metro, had my own operation and use to despise RW. I hated hearing the ads everywhere. Especially KFAN which I listen to all day every day. Since working at RW, I’ve changed my tune. I want to help people and build a lasting relationship.
1hl&sinker. NOT CORRECT AT ALL!!!! The landlord decides what is deducted from the tenants deposit, not RW. RW has no ownership of any of the properties. They are a 3rd party property manager. We also do not benefit from any deductions.
1.6 and 2 stars out of 5….
https://www.zillow.com/profile/Kellen-Harmon/
https://m.yelp.com/biz/renters-warehouse-eden-prairie
You can take the word of people online here, that I’m sure have good intentions, but I don’t see anyone here that has direct experience.
I am in the market in the near future to rent out my place, and it’s called doing your research and talking with friends and coworkers who HAVE done business with you guys. None of them say they would ever work with RW again. One of them started dealing with the tenants directly because RW was doing NOTHING for them besides taking their money(which they were very good at making sure that happened…)
Former boss met up “social gathering “former gophers kicker nystom or something like that used them best thing he ever did good endorsement to me
I have a strict policy of not doing business with any company endorsed by that dipsh@t Chris Hawkey over at KFAN
End of the day weather you rent it on your own or go through a property management company you don’t know what kind of renter’s your going to get. Rented our current house in Sartell for a few years when I took a job in Hibbing. We did the background checks for the first renter’s and everything checked out, signed contract, all is well for a while then the renters just pretty much sucked. Late payments, trashing house, more people moving in then we know. There damn dog had babies in one of the bedrooms, wtf, and they kept them in there. As you could imagine how that room turned out and they never said a word to us about it. It sucked trying to keep up with maintenance and collecting payments while three hours away. My old man had to take care of quite of few things for us which sucked for him. Renting a property sucks if you get the wrong people. Needles to say we did not renew their contract and found different renter’s, which were really good. I don’t know if I would ever rent a property again. Maybe if I was making a profit but we were just renting it to at least cover our morgage as we weren’t in position to sell.
If you are looking to rent, without the hassle’s of being a landlord, my advice is don’t rent, sell now while the market is good.
I tried using Renter’s Warehouse once and I found tenants on my own before they did. Additionally, their business model, imo, is pretty expensive especially in comparison to their competition. It was a few years ago when I checked with them, but the cost was one month rent up front + a percentage moving forward. There are a ton of companies that offer similar services to RW, so I would do some shopping. Also, you can likely talk to a local Professional Landlord (any Real Estate agents should have a connection), and setup a similar system at a lower cost. Or just make a deal with a local handyman, to fix minor issues and visit when the rent is late. And if you do decide to rent remember that the house will never be as nice as the day you move out. No renter is going to do the projects you do currently, and you now have 2x the risk of incurring significant expenses furnace/ac/water heater/dishwasher/Insurance deductible etc. I’ve been a part time landlord for about 10 years, and if you can’t tell it is the worst, lowest paying job I’ve ever had. But it could help make a few extra thousand dollars and an unknown point in the future!!! 
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