If you own a rental property in the city of Minneapolis, you are required to have a rental license. Yes, even if you live in one of the units.
This can be an expensive proposition.
Licensing fees may run anywhere from $520 when you purchase a new single-family rental property that previously had a valid rental license, to well over $1000 for a property that’s never been a rental.
However, the city does offer a way for you to save money if your property previously didn’t have a rental license.
Simply sign up for one of the property management classes designated on the city’s website and send them a certificate of proof you attended.
Classes last three hours, and typically move at a rapid pace.
And exchange for attending? The city sends you a certificate of attendance which gets you a $250.00 discount on your rental licensing fees.
Plus you may become a better landlord simply for having attended!