If you’re a Minnesota landlord, the end of January means one thing: Certificates of Rent Paid (CRPs) must be given to tenants no later than January 31.
A CRP is a form that gives tenants the opportunity to get a credit for a portion of the property tax they paid while living in your property. Each adult tenant who lived in the unit during your ownership should receive a CRP; even if their name wasn’t on the lease or they were married to another tenant in the unit.
The calculations for 2020 CRPs are complicated because so many tenants didn’t pay rent. Like always, even if your tenant didn’t pay rent you are still required to give them a CRP. However, if the tenant received funds for rent payment from the CARES Act, it is categorized as emergency assistance and is not considered rent. Therefore, it may be excluded from the total rent amount.
To download CRP forms and to obtain landlord instructions, click HERE.