Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

19
Posts
1
Votes
Stoddard Barnhill
  • Minnesota
1
Votes |
19
Posts

Rental License for SFR

Stoddard Barnhill
  • Minnesota
Posted

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

User Stats

1,522
Posts
1,621
Votes
Tim Swierczek
  • Lender
  • Saint Paul, MN
1,621
Votes |
1,522
Posts
Tim Swierczek
  • Lender
  • Saint Paul, MN
Replied

@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.

  • Tim Swierczek
business profile image
The Tim Swierczek Team - Gold Star Mortgage

Loading replies...