If you can’t sell it, rent it, right? Before becoming ‘an accidental landlord’ consider the costs and benefits carefully. Many homeowners rush into the decision to rent their home or townhome without accurately evaluating the costs.
First, add up the costs of your home for a full year. Include your mortgage payments, taxes, association dues and other items such as lawn care or shoveling contracts.
Next, find out the going rental rate for homes in Savage, Prior Lake, Lakeville, Farmington, Eagan, Apple Valley, Burnsville or Rosemount . Start with Craigslist and websites like Trulia.com, browse like a renter to get an idea of rental rates on property like yours. Take note of the properties you see advertised week after week, they are likely asking too much.
We have rented out several homes and townhomes in the past year. Single family homes with 4 bedrooms can rent for $1400 to $2400. Call or use Ask a Question if you would like my opinion of the rental amount you can charge for your property.
Calculate the total revenue using the monthly rental amount times 10 or 11 months. Do not use a full 12 months of rental income. If you rent your South of the River home or townhome for 3 years, there will likely be 3-5 months of non payment from various renters.
Most importantly examine why you wish to rent out the home. There are good reasons to rent your property, and strong reasons against it. If you rent your home to wait for housing prices to go back up, be prepared to rent the home for 4-6 years. If you are waiting for value to return, plan on minimal appreciation staring in 2013, at about 3% per year. If your home is listed and has not received an offer, it means the current value of your home is lower than the list price. Start about 5% below your current list price and add 3% per year. How long will it take for your home to appreciate back to the value you desire?
Each year of renting your South of the River home might bring in some revenue, however when I calculate this rental option for clients it often costs the homeowner hundreds or thousands of dollars per year. Budget for new carpeting, flooring, fresh paint and some appliance replacemnet when you finish renting the home. On average, plan for $5000-$7500 in repairs before selling a home after renting it.
Rental Information was last modified: February 6th, 2016 by Sheryl Petrashek
Sheryl is very knowledgeable about real estate in general and really excels at getting your individual house sold. She was great at identifying exactly the type of buyer that would be looking at our house. From there she told us what updates to make – which ones would really be worth our time and money. She also had recommendations on who could do those updates. Sheryl is an exceptional realtor to work with, you will not be disappointed!
Jessica & Alex, Farmington
Sheryl Petrashek is a top notch Real Estate Agent! She made the entire selling process go very smoothly and when things didn't make sense Sheryl was always there to explain and she made me feel very comfortable through the process. She knows the business very well! I will be recommending Sheryl to friends and family!
Kris, Apple Valley
Sheryl was a true professional helping me sell my home in a fast and efficient manner. I had an offer within 10 days of listing my home and sold at the price that I wanted. In particular, she spent a great deal of time upfront helping me understand the market and getting my home ready to put on the market. She always responded back within hours and is one of the hardest working real estate agents you'll ever find.
Sheryl Petrashek is an amazing Realtor to have representing you. Sheryl not only helped us sell our home by working with us to create cost effective ways to maximize the value of our home. But she also helped us build our dream home. With the expected hiccups in a build, Sheryl helped keep the builder moving forward on our behalf and helped keep us focused on the end goal of our new home. I would strongly recommend Sheryl Petrashek as she will work so hard to help you sell your house and/or find your next home.
Kyle & Katie, Lakeville
Sheryl is the definition of a professional realtor. She loves what she does for a living and it is evident in every phase of the buying or selling process. When we sold our home with Sheryl, she did a very extensive market analysis, provided input on how to ready our home for sale and communicated feedback each time we had a showing. When we had to make a price adjustment while selling, Sheryl provided hard data as to why that was necessary. Sheryl is a wonderful communicator and knows the business inside and out. I recommend her without reservation for any real estate needs.
Maria & John, Apple Valley
A friend told me about Sheryl after I asked him to help me find an agent who can help sell my home. I worked with another agent before her, but got no result. Sheryl came in, gave me a professional assessment of what ‘s needed to market my home successfully. Her and her highly motivated support staff got involved and listed my home in every medium available. Sheryl made frequent follow-up with agents showing my home, and routinely adjusted her marketing strategy to move the house. At the end I got competing offers. Sheryl total involvement along the way was priceless, therefore I highly recommend her and her tireless team to anyone who is looking to sell their home.
Victor, Mendota Heights
We tried selling our house by owner first, then after 40 stressful days, I called Sheryl. We've known her reputation and felt it would be smart to connect with her and see what she brings to the table. The first thing she suggested was raising our price, take new pictures, stage the house and a few other things. As soon as she left, we knew we were in the hands of a true professional. Sheryl's extensive marketing and local connections soon found an offer after just 5 days back on the market. She managed this transaction with the highest level of professionalism and kept the stress down, always looking out for our best interest. If you want to work with the best in the business, call Sheryl!
Brian & Traci, Lakeville
Sheryl is a great realtor. She had great resources and go to people for project work. I appreciate her marketing approach. Her website was great. The photos of the house were done nicely. She was willing to help us with anything we need and explained the sales process well.
Beth, Apple Valley
I would like to THANK YOU for working with me to sell my property. Being in a different state, I thought that it might be a bit tough for me to sell my property but you always went that extra mile to ensure that things were taken care of. You gained my trust from fixing minor repairs to working with renters for showings when needed. I appreciate with the service you provided to sell my property and am definitely glad that it was done without me having to feel like I needed to fly out to do anything.
From the moment we met Sheryl, we liked her. She has a personality that sets you at ease and a professionalism and knowledge that give you loads of confidence in her guidance. Our home values had been negatively impacted by neighborhood foreclosures and lack of comps, but Sheryl put her real estate expertise to use and was able to market our home in such an amazing way that we were able to sell our home for much more than we had hoped! (We had two offers in four days– one for asking price and one for more than asking!) I might also add that we were out of town for much of the time due to a work relocation, and Sheryl kept a close eye on all of the details in our absence and made sure everything ran smoothly. We would definitely recommend Sheryl Petrashek for any of your real estate needs. She is the complete package– friendly, professional, knowledgable, and detail oriented.
Reed & Shelley, Burnsville
This is my second time working with Sheryl and she was every bit as thorough and knowledgable as she was when I worked with her the first time in 2006. It’s clear she really knows the process and had everything covered before anything ever occurred to me to ask her about. I’ll definitely look her up the next time I need anything handled in the realm of real estate, and certainly I’ll refer people I know to her as well!
Sheryl is a fantastic realtor. She always vey helpful at trying to find the perfect house you have in mind and then she will go the extra mile to make sure you get that perfect home. I have had the opportunity to work with Sheryl several times and each time I have been completely satisfied. This last home we bought required a lot of time and Sheryl was always great at keeping us informed of how things were coming along and explaining why it was taking so long. I always had lots of questions and Sheryl always knew the answer. Thanks Sheryl....you are the best!!! I will always recommend you to everyone that is going to be either purchasing or selling a home.
Charlotte & Tesfaye, Rosemount
Sheryl has been everything I would have hoped in a realtor when we decided to buy our home. She came highly recommended from a co-worker, and I can definitely see why. Even though I am sure Sheryl has numerous clients she is working with, she always makes me feel like I am her only client. She worked day and night to help my husband and I find the perfect home, and we did! And even after that, she checked in with us to make sure we didn’t have any questions and we knew what the next steps would be. I cannot say enough how much easier our home buying process was because she was our realtor. She gets two huge thumbs up!
Nicole & Matt, Lakeville
I could not have been more impressed with Sheryl (and also her husband Bo). This duo was super helpful, not only with their knowledge of the area, schools, and neighborhoods; but also with being able to understand our taste and lead us to the perfect home and community! They are by far the best experience we have had with a realtor. They were patient, responsive, always flexible and available, but most importantly they were a lot of fun to work with.
Aaron & Melissa, Northfield
The Petrashek Team was great. Very organized and excellent about keeping us informed. This was the first opportunity to work with Bo and he too was spot on about his recommendations. He gave us sound advise on different aspects of each property we chose to review. When we put our house on the market, Sheryl was excellent at what we should ask and what we should expect to receive. She was right on the money. I'm so glad we partnered with this team again. I hope to be in this house a long time, but if anything should change, I would only call on Sheryl Petrashek for the outstanding results we have received.
Rebecca & Alan, Woodbury
I have bought and sold three houses in Dakota County since 1992. I have never had such a great experience with an agent. The whole process from first interview, to closing was absolutely smooth and easy for me, because of Sheryl Petrashek and her staff. They never failed to keep me up on progress, and reassured me when I got nervous!
Phyllis, Apple Valley
Sheryl Petrashek has been our realtor for many years. She has helped us with several real estate transactions, both buying and selling. Sheryl is extremely knowledgeable, experienced, and very professional. We would highly recommend her to everyone. She and her wonderful team have gone above and beyond to ensure a very smooth process with each of our real estate transactions.
Crystal & Dave, Blaine
She was communicative, efficient and worked very hard to help us sell our home! Our townhouse sold faster than we thought and we got what we wanted for it. She was very helpful!!
Tom & Jenna, Carver
Sheryl and her team helped us sell a difficult piece of property, a condominium we owned for quite awhile. They were wonderful! Her team handled the complicated sale extremely well! They were always responsive and thoughtful. Sheryl especially, helped walk us through the process and always communicated what the next steps would be so we could stay prepared. I really felt that they put our needs first and they did it with a smile. Even though they were busy, we always felt like we were their only clients. Sheryl was the perfect Realtor to sell our home. We will definitely use her again for our future real estate needs and we would recommend everyone we know to her and her team.
Mike & Missy, Apple Valley
We have used Sheryl to sell and buy two homes in the last 15 years and have found her to be the ultimate professional. From tips on preparing our home right down to negotiating a PA. She was always a phone call away. We have also referred her to two different family members over the years and would not hesitate to refer her again.
Warren & Sharyl, Chaska
I had a great experience with Sheryl and her entire team. She was available for questions anytime I had them and was flexible in scheduling time to view properties. I'd highly recommend her to anyone else I know that is purchasing a home as her knowledge and expertise made my home buying experience fun, exciting and most of all, painless. Aaron, Maple Grove
Aaron, Maple Grove
We selected Sheryl over two other highly recommended Realtors and she was the perfect fit to sell our home. We had an unusually complicated assignment and the depth of Sheryl’s experience and attention to detail was outstanding. She genuinely cared about our best interests and provided a level service that is beyond what we have found with other Realtors. We would recommend her to anyone considering the sale of their home, especially in the Twin Cities South metro. Tony and Jennifer, Inver Grove Heights.
Tony & Jennifer, Inver Grove Heights
Sheryl and Bo went above and beyond expectation with ideas, personal attention and services for enhancing my buying experience on both the buying and selling side of the equation. They were organized, professional and set expectations that ultimately proved to be spot on.
Mike, Apple Valley
Sheryl leveraged her strong knowledge of the real estate marketplace and her negotiation skills to obtain a lucrative price for the home we recently sold and assist us in the purchase of our new home. She took care to ensure that all aspects of the sale and purchase processes kept progressing on a timely basis and handled obstacles skillfully to support our best interest. I would highly recommend Sheryl’s services to anyone and everyone in need of a professional who gets the job done!
Cathy & Mike, Minneapolis
Sheryl is a very caring agent.She will do everything she can to help you. She also found us a home. She is the best you can find. Thanks for everything. By the way Bo is great too.
Dave & Marcy, Apple Valley
Sheryl - You represent the essence of what we feel a realtor should be. Your commitment to the sale of our home was always present as we felt completely assured that everything was under control. Your knowledge in the market and explanations to our questions were always communicated in a prompt response weather it was directly from you or one of your assistants in your office. Thank you for making us feel as though we were your only client even though we were aware of how perpetually busy you were. We have and will continue to recommend you to everyone we know!! Blessings!
Randy & Barb, Burnsville
I recently sold my home and used Sheryl and her team as my realtor. Before the transaction was even complete I was already recommending her to my family and friends. She has such a broad understanding of the market and has a passion for what she does. I really appreciated the one on one time she spent with me to explain the market conditions, my home’s value and all of the options available to me. Sheryl is my realtor for life!
Working with Sheryl has been great. She's extremely knowledgeable about all aspects of the buying and selling process and is able to give expert advise. She and her staff are very organized and do a wonderful job of keeping us informed of all the moving parts. We appreciate the work of Sheryl and all the others who have helped us with this process."
Matt & Amy, Farmington
Sheryl was such a joy to work with when selling our first home! She made the process very smooth and my husband and I knew we could trust her with every detail. She was upfront and honest so we had very real expectations when listing our home. She exceeds the competitors in marketing and knowledge of the market. We always knew Sheryl was on our side and in every situation she represented us with integrity and professionalism. We would refer all of our family and friends to her and we will definitely be customers of hers again. We had an offer on our home in 3 days and sold our home more quickly than we imagined! Sheryl and her team are wonderful!
Amy, Apple Valley
Sheryl and Bo are a great team and put together an outstanding marketing plan for our home. The result was seven showings and multiple offers in three days on the market and a sale for more than our asking price. The follow through on the details has been outstanding. We would highly recommend them to anyone looking for a great agent.
Todd & Nancy, Burnsville
Sheryl has been great throughout the entire process of finding and negotiating the purchase of our new home. We feel as though we have always been her top priority. Her responsiveness to our questions and concerns and her dedication to our project has been outstanding. Her knowledge of the local area and the constructions methods and terminology is impressive beyond compare. She has made the entire experience very pleasant and painless. We will highly recommend her to anyone planning to buy a home.
Greg and Cheryl, Farmington
Sheryl was referred to us for our unique home buying experience. Her understanding our of needs ensured that our initial property purchase would ultimately allow us to fulfill on our home building goals. Sheryl market knowledge with property visits were always spot on and informative. She always had her information prepared and outlined to provide the best options a property had to offer. Sheryl's candor navigating those options was very much appreciated, as she always kept our long term goals in site. Sheryl is an "all-in" agent. She will ensure that your expectations - start to finish - will be met, and that your home buying experience will be a pleasant one!
Jamie & Curt, Bloomington
Sheryl is absolutely wonderful! In this economy I thought selling our home would be next to impossible but Sheryl made it so easy! Sheryl will go that extra mile for you. She is extremely knowledgeable and offered great advice and recommendations to get our home ready for showings. She is not only very professional but very likeable and friendly. I highly recommend Sheryl and look forward to working with her to buy my next home!
I am proud to not only call Sheryl Petrashek my agent, but now also a friend. I remember the day we met to talk through the details of selling my home. Sheryl knew I was a bit emotional about moving but also helped me keep the end goal in perspective throughout the process. The way that she is connected in the area, understands the market and knows how to navigate every part of the selling and buying process is impressive. She listened to my situation, what my kids I were looking for in my new house and then helped me find it. Sheryl’s approach to explaining the process and helping me think through next steps couldn’t have been more spot on. From start to finish Sheryl has always considered what’s best for my family and I and for that I am truly grateful!
I am beyond delighted with the services I received from Sheryl, and her team! Sheryl’s marketing strategies for the sale of my townhome were incredibly well thought and professional, and as a result, my townhome sold very quickly. In a competitive market, Sheryl ensured that I was able to see new homes as soon as possible during my search for a new home. Sheryl, and her team, remained in constant contact, and they were always there to answer any questions that I had, or schedule a showing at the drop of a hat. The selling, and buying, processes were beyond smooth and I couldn’t be more grateful for the services I received. Sheryl’s years of experience, marketing strategies, and communication made the selling, and buying, processes painless and easy. I would highly recommend Sheryl’s services for your selling and buying needs. Thanks for everything to Sheryl, and team!
Stacey, Brooklyn Park
Hard worker doesn't even begin to describe Sheryl's drive to go above and beyond the call of duty. She is extremely knowledgeable and without a doubt has her client's best interest in mind. Would choose her again and again and would highly recommend!!
Sheryl and her team are fantastic. They were there every step of the way for us. We sold our house in 4 days for the asking price. We would recommend Sheryl to anyone.
Tom & Brigitta, Burnsville
Sheryl is in the process of helping us to prepare and understand the current market. Her knowledge of the real estate trends and in depth analysis allows us to maximize the sale of our home. Along with her being patient, helpful, enthusiastic and the most understanding person to work with! We look forward on working with her!!
Cathy & Don, Apple Valley
I am so glad I got to work with Sheryl and Remax Results. Sheryl was open, totally flexible to my schedule, and very good at keeping me updated and informed about homes available. After helping me finally find the perfect place the entire team did a great job of guiding me through the process and preparing me for an easy and successful closing. Honestly, I don’t think finding and buying a home has ever been easier. Thanks
My fiancé and I had a great experience working with Sheryl! We started out looking at used houses in the Apple Valley, Eagan, Lakeville area and eventually settled on purchasing a new house in Lakeville. Her wide breadth of knowledge for both used and new houses really helped us feel comfortable in the decisions that we were making. She was always available for questions and was exceptionally helpful in helping us through a miscommunication that came up with the developer and the city. We highly recommend Sheryl as a realtor!
Anthony & Kate, Lakeville
I have had the best experience with Sheryl buying my house. It’s a very exciting time and also a big decision of my life, but she made it sound really fun and simple to me, always gave me feedback on things that made so much sense and made it so easy for me to make my decision. Very knowledgeable, pleasant individual to work with and I am so grateful. Thanks Sheryl.
I first met Sheryl in 2006 when we sold our first home. She impressed me immediately. She’s knowledgeable, experienced and savvy in real estate. Sheryl calmly explains the process because it can be overwhelming and stressful, at least for me. Her “customer service level” is understanding as she returns calls or emails in a timely manner or her “team” does. My husband and I would give Sheryl Petrashek and 5 star A+ rating and would recommend her without hesitation. I have given my entire family her name for their future real estate needs! THANK YOU SHERYL FOR EVERYTHING!
Karen & Bruce, Eagan
Sheryl is very knowledgable . Keeps up with market trends and advises you accordingly. Easy to work with. Does a great job working with you to get your house ready to place on market. Answers phone calls promptly and calls you on the progress of the sale.
Wonderful experience and a great realtor with no pressure sales! Always willing to make things happen!
Sheryl worked with my husband and me to sell our house at a difficult location. Sheryl tried many approaches and we successfully sold our house. I really feel it was because of Sheryl's thorough and consistant effort with showings, open houses, and marketing that made the difference. Sheryl is a great agent and partner in this process. She also helped us find our next home!
Rebecca & Alan, West Saint Paul
We had our townhouse on the market for over 7 months with another realtor and had no offers. Sheryl was recommended to us by a friend, so we decided to switch and give her a try. Within two weeks of working with Sheryl, we had an offer and sold our townhouse. She also found us a wonderful new home to purchase. Sheryl and her team made the whole process seamless and effort free. If you want great results, Sheryl is the realtor for you. Thank you!
Michelle & Matt, Apple Valley
This was our second house with Sheryl, she's done a fantastic job both times. She and Bo are very knowledgeable about the sale and purchase of homes. We will definitely be using them again for the third house! Thanks again Bo and Sheryl!
Mike & Heather, Spring Lake Park
Sheryl was such a pleasure to work with while selling our house and buying a new home. It is clear that she loves what she does and she is very knowledgeable about the market. She gave us some tips about putting our house on the market early in the spring to get a jump start and she was completely right - our house sold in just one day! She made what could have been a completely stressful experience smooth and enjoyable. She was always quick to respond to any questions and always made us feel like we were her most important clients. We highly recommend Sheryl!
Mike & Lindsey, Farmington
I can't say enough about Sheryl and her services. I'm completely impressed and satisfied with the handling of the sale of my home. Sheryl's honesty and integrity shines through from the beginning to the end of the process of selling my home. She did a fantastic job marketing my home and delivered exactly what I wanted/needed to sell my condo. Sheryl and her office made selling flawless and very easy.
Tom, Eden Prairie
Sheryl was very instrumental in both the purchase of our new home and sale of our old home at the price(s) we wanted. She is very knowledgeable about properties and their values. Whenever I needed to talk to her she would always respond. Not only is she a great Realtor but a better person you won't find. You won't regret having Sheryl as your listing agent. She gets thing done.