Prior Lake Property Management
We Can Help Manage Your Prior Lake Rental Property
We can provide you with complete leasing, and property management services for residential rental properties – including single family homes, townhomes & condos in the Prior Lake area.
What we do:
- Photograph, advertise and market your rental property at no charge to you
- Take calls and schedule showings with potential tenants
- Conduct showings (only one agent will be showing your home)
- No lockboxes or signs at your property
- Process all rental applications with a complete background check
- Once approved, meet and sign lease with tenants and collect security deposit
- Meet tenant at move-in, and complete a full property move-in inspection report
- Collect monthly rent payment, and follow-up immediately on late rent payments
- File any necessary legal actions against tenant
- Take calls from tenants with any maintenance or repair requests
- Manage any necessary owner-approved maintenance or repair work
- Meet tenant at move-out, and using the move-in inspection report - determine if there is any tenant caused damage or repairs, and if so tenant will pay for with their security deposit funds
- Provide monthly, as well as year-end statements to owner
- Provide government required CRP (Certificate of Rent Paid) to tenants
Inquire About Our Services
Homeowners, Landlords & Real Estate Investors
Hiring our leasing and management company will provide you:
- Years of experience leasing and managing rental properties
- A complete understanding of current landlord / tenant laws
- Knowledge of the current rental market conditions in your neighborhood
- Firm guidelines in place for managing ongoing tenant relations
- All of our documents meet legal standards, and offer protection to our clients (you)
- All of our leasing and management agents are licensed real estate professionals
- Property management for our clients is our full-time occupation
What Makes us Different?
We distinguish ourselves from the competition by providing superior service & value. We offer our property owners:
- Years of experience in leasing and managing properties
- Our agents are all licensed real estate professionals
- We lease and manage properties throughout the entire Twin Cities area
- We maintain a database of tenants who are looking for properties in your area
- Our agents will personally show prospective tenants your property, and we will never allow showings without our assigned agent being present
- We do not charge our owners for advertising and marketing their properties
- We do not charge a markup for owner approved maintenance and repairs, and you will only be invoiced for the actual cost of the work that was done
- Our “tenant guarantee” gives you the peace of mind that if the tenant we place were to break the lease in the first six months of occupancy, that we will find replacement tenants at no charge to you
Many of our clients offer their properties on a rent-to-own basis. This means that you are giving our
tenant the option to purchase your property, and usually offer some sort of incentive – such as a pre-determined
discount or rebate on their rent, if and when they close on the purchase of your home. Basically, the way it
works is you lease your property for 12-36 months with a traditional lease agreement, AND at the same time
you also sign an option & purchase agreement to sell your home to your tenant. The option & purchase agreement
states the purchase price you and your tenant buyer agree to.
The agreement also details the period of time you, as the seller, are willing to give your buyer to purchase your home. This length of time is called the option period and it is usually 12-36 months, but can be longer based on what you negotiate. At this point, it is then the buyer’s responsibility to qualify for a home mortgage to purchase the home before the expiration of the option period.
"We have worked with Steve McFarlan for about four years. Steve was successful in finding renters who were responsible. Whenever there was an issue that needed attention, Steve was good about letting us know. We could be involved in decisions or Steve took care of the problem. We have found it comfortable and rewarding to work with Steve McFarlan. Our current renter has said that he enjoys working with Steve."
- Hjalmer T. ( Prior Lake )
Frequently Asked Questions
Prior Lake Area Information
Prior Lake is a city 20 miles (32 km) southwest of downtown Minneapolis in Scott County in the U.S. state of Minnesota. Surrounding the shores of Lower and Upper Prior Lake, the city lies south of the Minnesota River in an area known as South of the River and establishes the urban fringe of the south-southwest portion of Minneapolis-St. Paul, the sixteenth largest metropolitan area in the United States. The population of Prior Lake was 22,796 at the 2010 census.
Seen as the sister city of Shakopee, Prior Lake was incorporated as a village in 1891, Prior Lake is one of the oldest southern metro cities to have been absorbed by suburban growth. Along with Shakopee, the city is also experiencing reclamation to native habitat via land purchases by the Shakopee-Mdewakanton Indian Reservation, where Mystic Lake Casino and Little Six Casino are located. The city's modern growth is attributed to the completion and upgrade of State Highway 13.