It’s January. In Minnesota, that means bitter cold, cabin fever and dashed Super Bowl hopes. And for Minnesota landlords, it also means it’s time for the annual ritual of filling out the Certificate of Rent Paid (CRP) for tenants.
The CRP is a means of giving tenants partial credit for the property tax they helped the Twin Cities duplex owner pay.
Any landlord with a rental unit where there was property tax payable in 2008 is required to fill out the required state CRP form for each adult who lived in the rental unit, regardless of who made the actual rent payment. Married couples may receive a single CRP.
Basically, all the landlord is required to fill out on the form is the tenants name, location of the property, and the amount of rent received from that unit. Of course, this figure is based on the actual amount of time the tenant occupied the duplex and the landlord owned the property.
This worksheet must be given to tenants, past and present, no later than January 31, 2009. Failure to do so may result in a fine of up to $100 per incident, so it’s worth taking the time to get it done.