My Duplex Chick duplex “for sale” signs occaisionally do interesting things.
Like attract buyers.
It seems the 2.7 percent vacancy rates in the cities of Minneapolis and St Paul have people looking for help finding a place to live. So they’re calling any residential income property related sign they see.
Well, mine anyway.
While vacant rental units are often listed on other Multiple Listing Services (MLS), around the country, it is a relatively new feature in the Twin Cities.
Property owners can work with a Realtor to get vacant units featured not only on the MLS, but web sites like Zillow as well.
Tenants who are relocating to Minnesota and who are familiar with this service because of having lived in markets like Chicago and Las Vegas, where it’s common, often contact agents for help finding a place to live as they transition.
And of course, there’s all the people who already live here looking for places too.
The typical cost to list your property for rent on the MLS and have it represented by a Realtor is, like selling a property, some percentage of the transaction amount. As with a sale, that fee is negotiable.
The commission for some leases may cover the entire length of the rental agreement, or a percentage of the first month’s rent.
If you’ve got a vacancy you need to fill, call me. I’ve got tenants for you.