Frequently Asked Questions
At Real Property Management Viking, we believe in honesty and communication. This includes answering frequently asked questions to help you stay educated and informed. We invite you to review our FAQs to understand more about how we manage your rental property in Hopkins, MN, and the surrounding areas.
Our rigorous screening process usually prevents these types of issues however, if a problem should arise, our premium service clients can rest assured that we always respond aggressively. Rent is due on the 1st and is accepted late up to the 2nd. On the 3rd the eviction process is started with a 3-day notice to pay or quit. Nuisance issues are handled in a similar way with one warning given before notice is posted. We also keep a lawyer on retainer to address eviction and collection issues as well as to dispense legal advice when necessary.
We will disperse funds by convenient ACH transfer on the 10th of every month and post your monthly owner statement.
Every client is assigned a designated property manager for his/her rental property. This means you’ll have the cell phone number of a point person to call with any questions about your property or it’s care.
Yes. All of our owners are notified of all maintenance issues as they arise. However, we will address and resolve all repair requests for our owners. We do typically set a maintenance reserve of $250-$500 meaning that if a maintenance issue comes up and is below the reserve amount, we just fix it and let you know. This keeps your property running smoothly and your tenants happy. For larger issues, we typically get multiple bids and will always contact you for approval.
All prospective tenants are run through an extensive 8-step screening process.
1) Nationwide Background Check
2) Eviction Database Check
3) Criminal Background Check
4) Sex Offender Database Check
5) Credit Check
6) Financial Qualification, Income ratios
7) Verification of Employment and Income
8) Rental history by contacting their two previous landlords for references.
Finally, we can screen any pets that are to be kept for prior damage to rental property, aggressive behavior, and veterinary references.
Much like the real estate market determines sales prices, the local rental market determines rental rates. There are three factors that contribute to how much your property will receive in rent:
• Availability and rental rates of comparable properties
• The features and benefits of your property
• The marketing exposure for your vacancy
After we receive the details on your property, we will do a market analysis and set a starting price. We then evaluate all of our vacancies weekly and make adjustments in the price or our marketing efforts to get it rented as quickly as possible.
Our marketing program and leasing services are second to none. Backed by a national marketing team with brand exposure nationally and internationally. That being said, leasing is a fluid process with many variables including asking price, local inventory levels, and seasonal factors. In most cases however, we can find a qualified applicant within 29 days.
We understand that everyone’s situation is different. Some clients only need assistance with leasing the property and processing rent payments each month, while others prefer to have all aspects of the management process taken care of for them. That’s why we give our clients options and let them decide which management plan and optional services are right for them.
Contact Real Property Management Viking
Our property management strategy is guaranteed to save you money at every stage of the process. We make it easy to protect your investment, minimize costs, and maximize your income—without interrupting your daily life.
Don’t see an answer you’re seeking? Contact us online or call us directly at 612-915-0100 today!
