If you currently own rental property in the state of Minnesota, it’s that time of year. Property owners have until January 31, 2017, to complete and distribute Certificates of Rent Paid (CRP).
You must complete and distribute a CRP to each person who from you unless your property is tax exempt.
Without a CRP, tenants cannot take advantage of the Homestead Credit Refund or Renter’s Property Tax Refund.
Failure to provide the CRP on time can result in a fine of up to $100 for each incidence.
If you purchased the property last year, or your tenant only paid a portion of the rent, your CRP should be pro-rated to your length of ownership or the amount of rent you actually received.
For further instructions, or to download the form, click here