High Demand Anticipated by Property Management Co. MPLS Rent

Online, November 13, 2013 (Newswire.com) - As negotiations for the construction of the new Minnesota Vikings stadium come to a close, the city of Minneapolis and rental property management firms have realized the impending increase in demand for Minneapolis rental properties. With vacancy already at an all time low in the Twin Cities, a mere 2%, locating adequate housing for the estimated 13,000 incoming construction workers and their families is a daunting task. While the responsibility is not that of Minneapolis officials, leading Minneapolis rental property management company, MPLS Rent welcomes the challenge.

"Those 13,000 people have to live somewhere," commented MPLS Rent owner and founder, Joe Kirkwood. "We're working closely with our existing landlords and quickly gaining more in an effort to provide quality rental properties to the workers, management and executives coming into the city for the stadium project."

Kirkwood reports than many home owners with properties long on the real estate market are taking advantage of the increased demand for rental properties by placing the empty homes on the rental market. While that will provide a certain number of homes for the project workers, it is no where near enough to house the number of people converging on the Twin Cities. With the additional housing provided by the newly constructed Lime Apartments near Loring Park, offering 355 luxury apartments, the efforts of MPLS Rent is making a dent in the demand.

"We know it's nearly impossible provide Minneapolis rental properties to all 13,000 people," Kirkwood added, "But we're trying to make a difference in the supply and demand crunch in any way we can."

City officials estimate that of the 13,000 workers, some 90% will remain in Minneapolis and the surrounding areas following the completion of the Vikings stadium project. This will inevitably have a positive effect on the real estate market of the Twin Cities, when taking into consideration that a percentage of the incoming people will purchase homes as opposed to renting.

"Until those folks who chose to stay find the right real estate, we've got Minneapolis rental properties that they can call home." Kirkwood said. "It's all a matter of proper tenant placement and having enough rental properties to meet the demand. MPLS Rent working very hard to do just that."

For more information on MPLS Rent and the currently available Minneapolis rental properties, visit: www.mplsrent.com

JD Arbuckle is a freelance journalist and long time resident of Minneapolis.