Local Issues / Rental Policies
MAR is committed to providing you with the most detailed, timely, and accurate policy data available. Updating our REALTORS® often about relevant local issues will have a greater impact on policy outcomes!
A Minneapolis City Council Study Session has been scheduled for February 23, at 1:30 PM. The topic is rent stabilization research. This will be an online meeting. The agenda, when published, will be available in the Legislative Information Management System (LIMS). See the full upcoming City Council calendar and watch meetings online.
Minneapolis — Rent Control Ordinances To Be Heard On February 24
Minneapolis City Council members Cam Gordon, Jeremiah Ellison, and Lisa Bender have introduced two ordinances regarding rent stabilization, commonly referred to as rent control. These ordinances pertain to adding the City’s authority to exercise power to control rents on private residential property in the City. A public hearing will be held on February 24, offering Minneapolis residents the opportunity to speak either for or against the measure. Advance sign-up required, (MAR will provide sign-up information once it becomes available).
“The Minneapolis City Council voted in November 2019 to spend $150,000 to study the issue of Rent Control. State law prohibits rent control unless approved by the voters on a local ballot. The Rent Control Talking Points are for member use on Rent Control in 2020. Actual city ordinance language has not been developed but we anticipate this to be a large part of the public conversation in 2020.”
Tenant Opportunity to Purchase Act (TOPA)
The City of Minneapolis is seeking policy advice on potential Tenant Opportunity to Purchase Act (TOPA) legislation. TOPA regulates the conversion of use, sale and transfer of rental housing. Tenants have the opportunity to invoke their rights to purchase, exercise first right of refusal, receive offer of sale notices, receive notices of the transfer and the conversion of property to cooperatives or condominiums.
REALTORS® favor the creation of homeownership opportunities and support a wide variety of housing options. However, TOPA has several drawbacks, unintended consequences, and substantially alters private property rights and property ownership.
New Renter Protections take effect in City of Minneapolis
New renter protections are now in place in the City of Minneapolis that change credit screening practices and criminal screening criteria and limit security deposits. The changes took effect June 1, 2020 for owners of buildings with at least 15 units and took effect on December 1, 2020 for owners of buildings with less than 15 units.
New Energy Disclosure Report in the Truth-in-Sale of Housing (TISH) program
January 15, 2020, an Energy Disclosure Report is required by the City of Minneapolis. The two-page ‘Asset-Based Energy Efficiency’ report will be part of the set of returned documents from the TISH inspection. The energy disclosure report will be based on four criteria: attic insulation, wall insulation, heating system, and window efficiency. Using these criteria, homes will be rated on a 0 to 100-point scale with 100 being the best. The report also will prioritize recommended improvements based on a maximum 10-year window of return on investment. No repairs will be required.