Minneapolis Council President Lisa Bender and Councilmember Jeremiah Ellison have shared two draft ordinances with Minneapolis Area REALTORS®, Minnesota Multi-Housing, and other stakeholders.
Security Deposit Requirements
- Limits the security deposit amount to 50% of one month’s rent (if both the first and last month are required up front)
- Limits the pet damage deposit amount to 25% of one month’s rent
- Allows tenants to take three months to make payments on upfront or pre-paid amounts
Tenant Screening Requirements
- Limits landlord screening of prospective tenants and
- Imposes a 2 year look back period on misdemeanor crimes
- Imposes a 5 year look back period from the date of sentencing on felony crimes
- Establishes 500 credit score or above as sufficient to meet landlord requirements
The tenant screening ordinance is by far more intricate and nuanced where-as the Security Deposit requirements are very straightforward. Minneapolis Area REALTORS® has extensively reviewed each ordinance draft and sent comment letters to the Mayor, Minneapolis City Council, and key city staff. MAR anticipates the city council will amend its drafts, conversations are ongoing, and the final ordinances are likely to be proposed later this year.
Eric Myers, Government Affairs Director