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Updated over 4 years ago on . Most recent reply
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Minnesota Lease "Authorized Manager of Premises" List LLC?
Hello BP, looking for some guidance specifically to Minnesota landlord/tenant statutes.
I have formed an LLC to be used as my property management company to manage the rentals I (well a different LLC that I control) owns.
How should I list the "person authorized to manage the premises" and the address. Can this be my LLC and the address be the address for the LLC (which would be the LLC's registered agent's address)? I'm trying to avoid putting my personal address here, but want to make sure I'm legal and avoid a $200 phone call to my lawyer. Thanks in advance.
According to MN Statutes 504B.181 Landlord or Agent Disclosure.
Subdivision 1.Disclosure to tenant.
There shall be disclosed to the residential tenant either in the rental agreement or otherwise in writing prior to commencement of the tenancy the name and address of:
(1) the person authorized to manage the premises; and
(2) the landlord of the premises or an agent authorized by the landlord to accept service of process and receive and give receipt for notices and demands.
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@Lucas Miles what your going to run into is municipalities who will require a physical address and actual person with contact info in order to get a rental license.
Unless your a licensed RE Broker your still going to be personally liable on the PM of the properties as you must be property owner, w2 employee of the property owner, or licensed RE Broker to do property management in MN. In the first two, the chain of liability still direct connects to the property owner, which must be a designated person (at some point in the chain of things you will hit that requirement of a designated person).
So if your doing split LLC's for liability separation, sorry won't work. If your doing it for tax reasons, then ok but just know a person will have to come into play at some point in the chain of things.
- James Hamling
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