Minneapolis Rental Licensing is Looking For You
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(If you have an unlicensed rental property in Minneapolis)
Maybe I am last to know, but I just heard that Minneapolis has hired two “unlicensed property finders”. These inspectors will drive up and down the streets, search Craig’s list, and Rentals.com looking for properties for rent. They will then check their lists and see if that property has a rental license.
If the property does not have a current Minneapolis rental license, the City will:
- Send the owner a letter stating they are in violation of city codes as you can not even “offer” the property for rent before you obtain a Minneapolis rental license.
- Fine the owner $250 for not obtaining a license prior to putting the property up for rent.
- Mostly likely you will be subject to the $1000 Minneapolis Rental Conversion Fee.
- Confirm the owner does not have any outstanding code violations, no delinquent property taxes or assessments on the rental dwelling, nor shall any licensee be delinquent on any financial
obligations owing to the city under any action instituted pursuant to Chapter 2, Administrative Enforcement and Hearing Process. - Require a full property rental inspection where the city may require changes and upgrades to “encourage” property owners to maintain the City’s housing stock.
- Possibly charge a flagrant or multiple violator with a misdemeanor.
Keep those licenses up to date and obtain them as soon as you buy those Minneapolis properties!
Scott Ficek owns and manages almost 30 investment property units from single family to multi-family. Find his website at www.minnesotainvestmentrealestate.com or receive his blog via your RSS Feed or in your Email. He is also a Minnesota Real Estate Agent with RE/MAX Advantage Plus in Minneapolis and helps new and seasoned investors buy and own Minneapolis Investment Property.
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I didn’t know they were doing this now, thanks for the post update. That’s smart of them to look on that website. One thing I will tell you is whenever you have to pay your annual rental license fee, if it’s late and not paid on time, I know one city for sure will charge you double the annual fee for each property.
It’s probably a good thing that they do require a license, hopefully landlords out there keep the places up and take land lording serious, it’s a business just like anything else.