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Updated over 5 years ago on . Most recent reply

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13
Posts
7
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Jacob Hanson
  • Minneapolis, MN
7
Votes |
13
Posts

HELP! Minneapolis proposal eliminates credit score for screening!

Jacob Hanson
  • Minneapolis, MN
Posted

Minneapolis is proposing to not allow landlords to use credit score as a factor for screening tenants.  Evictions older than 3 

years and felonies over 5 years cannot be used to disqualify candidates either.  I'm a new investor and I have a duplex in NE Minneapolis and an offer on a triplex in NE Minneapolis.  

Credit score is a metric that measures how well a tenant pays their bills and debts, such as rent and usually considered the number one factor in tenant screening.

It's only a proposal thus far, but Minneapolis might become the least landlord friendly city in America!

I just wanted to get people talking.  Does anyone have anymore information?  Should I run as fast as I can from Minneapolis?

Article below:

http://www.startribune.com/minneapolis-considers-limiting-landlords-ability-to-screen-tenants/510644802/

Most Popular Reply

User Stats

28,071
Posts
41,075
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,075
Votes |
28,071
Posts
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

If you don't already own rentals in a major city, don't buy them. The larger cities are all headed towards restricting owner rights and making it easier for bad tenants to get into rentals. The best method of protection is to invest in smaller cities in conservative states.

  • Nathan Gesner
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The DIY Landlord Book
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