Renters Warehouse, a Golden Valley-based residential property management company, is having a stellar year. Again.
Brenton Hayden, 26-year-old CEO and founder, said his company already surpassed 2010 totals in May of this year.
Voted “Top 5 Emerging Entrepreneurs” by Entrepreneur Magazine last year, Hayden said a tough life event set him on this path.
At just 19, Hayden was a successful sales representative for the Kellogg Company.
“I was very good at what I did because I believed in the product I was selling. I enjoy sales and interacting with people.”
He was laid off in 2004 when the company downsized.
An acquaintance suggested he get into the booming real estate market. Hayden got his real estate license and went to work with an agent in the Twin Cities.
When the market collapsed in 2006, Hayden was again looking for a job. After lining up a tenant for a property manager, he realized it was something he loved doing. He jumped into the property management market and started his own business.
Renters Warehouse is a residential property management company. The company will find and place a tenant in the rental property, collect rent, field service calls and handle all issues related to the property.
Available 24/7 to respond to tenant issues, they also offer property inspection, monthly statements, and year-end profit and loss statements.
“Renters Warehouse is a good choice for the unintentional landlord, someone who can’t sell their property or would lose too much if they did. It’s not for everyone but it’s an excellent solution for people who want help to hold onto their property,” Hayden said.
In 2011, Inc. Magazine ranked Renters Warehouse third in the nation for real estate up from 15th in 2010. The magazine also rated it as the largest and fastest-growing property management company in Minnesota.
When asked how he has grown his business so successfully, Hayden said it’s partly based on trial and error.
“I learn from my mistakes,” he said. “I research what went wrong and make the necessary changes. I don’t make the same mistake twice.”
The business was named one of the “Best Places to Work” (Small Companies category) by the Minneapolis/St. Paul Business Journal for 2011 and 2010. Hayden says the award is the result of a work culture based on core values.
The Golden Valley office staff is the same as four and a half years ago, with a few additions.
“We don’t hire solely on qualifications,” he said. “It needs to be a good fit from both perspectives.”
Although he doesn’t hold a four-year college degree, Hayden has completed one certification and started the second of three in Entrepreneurial Development.
“The teachers are inventors, venture capitalists, world-class leaders,” Hayden said. “It has been a profound experience.”
Who does Brenton Hayden turn to for advice? Mike Hatch, former Minnesota attorney general.
“As much as we are apples and oranges in many respects, he is the man I call on for a real, unbiased opinion and solid advice,” Hayden said.
Renters Warehouse is poised for growth in the coming months, he said. Two years ago the company started the franchise process.
“Phase 2 of our business plan is focused on national expansion,” Hayden said.
Under a new franchise director, the current plan is to open 25 franchise offices in the next 12 months. The first two are located in Arizona and Colorado.
Born and raised in Minnesota, he said he sees great loyalty from the community to local businesses and vice versa.
“There is definitely an entrepreneur’s spirit here,” he said.