Local Issues / TOPA
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!
Talking points are a list of detailed discussion points designed to put you in the driver’s seat when explaining current issues that have not yet been decided.
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.
“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.”
This information serves as your resource on issues that have already passed and are about to become effective or have already become effective.
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. MAR was active throughout the ordinance development process and a significant number of its suggested changes were included in the ordinance. MAR is also part of a cross-sector committee that is guiding implementation of the ordinance. The changes took effect June 1, 2020 for owners of buildings with at least 15 units and will take 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.