Updated almost 7 years ago on . Most recent reply
Rental License for SFR
In the interest of having some sort of written agreement between owner of the property and renters....I am wondering what the standards and obligations of obtaining a rental license in the city of Minneapolis is for a single family owner occupied home?
Can a standard lease be drawn up between renters and the owner without a rental license in this instance?
Appreciate your thoughts/suggestions.
Most Popular Reply
@Stoddard Barnhill & @Matthew T Larson you absolutely need a rental license unless its a roommate owner occupied situation. In fact, if you operate a rental without a license you have no legal right to collect rent and if a tenant were to sue you, then you would need to return every cent they paid you during the term of the lease. Also, in Minneapolis, if it was not licensed as a rental when you purchased it they charge a conversion fee, the last I looked it was $1000. You can have that fee either reduced or waived if you take the www.homelinemn.org course which I highly recommend. I have taken it twice over the last 12 years.