Minnesota Residential Lease Agreement – PDF Template
The Minnesota residential lease agreement is a form that allows a person to be able to rent from a landlord for a fixed period amount of time (usually twelve (12) months). The landlord or property manager will usually first take the credit and rental history of the potential tenant through a rental application to make sure he or she is able to pay rent every month on time. There may be a fee associated with this verification and once complete, a lease should be drafted and ready for signature. Once all security deposits and first month’s rent are paid will the tenant be given access and the lease will be in full effect.
Security Deposit Laws
Maximum Amount ($) – Landlords may require tenants to pay any security deposit amount that they desire.
Returning – If a landlord accepted a security deposit, they must return it to the tenant within three (3) weeks of the tenancy termination date (§ 504B.211).
Added Language – The following paragraph must be included in all Minnesota residential leases (§ 504B.171, Subdivision 1):
“Landlord and tenant promise that neither will unlawfully allow within the premises, common areas, or curtilage of the premises (property boundaries): controlled substances, prostitution or prostitution-related activity; stolen property or property obtained by robbery; or an act of domestic violence, as defined by MN Statute Section 504B.206 (1)(e), against a tenant, licensee, or any authorized occupant. They further promise that the aforementioned areas will not be used by themselves or anyone acting under their control to manufacture, sell, give away, barter, deliver, exchange, distribute, purchase, or possess a controlled substance in violation of any criminal provision of Chapter 152.”
Financial Distress – If the landlord is being foreclosed upon, they must disclose this to the tenant in writing and cannot make an agreement with a duration longer than two (2) months (§ 504B.151).
Landlord/Manager Information – The lease agreement must include the property manager’s personal information and an address where the tenant can send notices (§ 504B.181).
Lead-Based Paint Disclosure – The lease for any property that was erected prior to 1978 must include this disclosure which informs potential tenants of the dangers of lead paint that is present on most older properties.
Outstanding Inspection Orders – The landlord must disclose in writing any outstanding inspection orders on the property due to code infractions (§ 504B.195).
Rent Grace Period
No grace period. The landlord may charge the tenant late fees if stated in the lease. However, late penalties cannot exceed an amount equal to 8% of the overdue rent payment. Furthermore, the lease must also state when any late fees are to take effect for them to be enforceable (§ 504B.177).