In Minnesota, a series of new laws were recently enacted on August 1, 2010 and they WILL affect all Minnesotans who are either renters or else who rent (such as landlords and property managers). These new laws involve a number of very important financial and other considerations that could have a significant impact on both renters and landlords.
The Minnesota legislature focused on several areas of the law including:
1 – The rental screening process
2 – Rental homes in foreclosure
3 – Capping late fees
4 – Payment of utilities
5 – Penalties for bad faith failure to return a security deposit
Harsh fines and penalties are being applied to landlords for failure to follow these new laws.
Over the next few days, I will be highlighting key laws and how they may impact you. If you have a colleague or friend that rents, I would encourage you to have them read my blog posts. For more information on these new laws and what they say, please go directly to this link.
