G.L. Revisor of Statutes, Minnesota Office of the Revisor of Statutes, 700 State Office Building, 100 Rev. Learn five reasons a tenant may not be entitled to the return of their security deposit, in whole or in part. I gave my new address to my landlord at the end of my lease. If a tenant paid $1000 for a security deposit, but did $1200 worth of damage, and owes $900 worth of rent, then the landlord can withhold the security deposit, and send a bill for another $1100. Search & Status (House), Bill Minnesota law imposes a harsh penalty on landlords who miss the deadline to mail the tenant a written explanation. Guides, Books Constitution, State Browse the resources below for this topic. History Guide, Legislators Past & If your landlord has not returned your deposit or did not give you a letter that explains how the deposit was used within 21 days after you moved out, use the form letter. Security Deposit Security Deposit. Time-Frame: A Minnesota landlord must generally return a tenantâs security deposit within three weeks after a tenant has vacated the rental unit. Committee, Side by Side Legislative Auditor, Legislative Coordinating How to Justify Not Returning the Entire Deposit. Me? Any attempted waiver of this section by a landlord and tenant, by contract or otherwise, shall be void and unenforceable. Read this in: English, Spanish / Español. The returned security deposit comes with a security deposit return letter detailing how much the landlord will give back and how much deductions, if applicable, he made from the original amount. The exception to this rule is if the tenant had to move out because the entire building or the tenantâs unit has been condemned. Journal, House Myth #5: Landlords are only allowed to charge the tenants the amount of the security deposit, not more. Some states mandate that you must keep the security deposit in a separate account for the tenant. Time Capsule, Fiscal Minnesota: Rent owed; ... All of the states provide a definite period within which the deposit must be returned, except for New York where in the landlord must return the same âwithin a reasonable time.â ... No, a security deposit is not mandatory by law. (3) transfer or return a deposit as required by subdivision 5. after receipt of the tenant's mailing address or delivery instructions, as required in subdivision 3, is liable to the tenant for damages in an amount equal to the portion of the deposit withheld by the landlord and interest thereon as provided in subdivision 2, as a penalty, in addition to the portion of the deposit wrongfully withheld by the landlord and interest thereon. Dr. Martin Luther King Jr. Session Daily, Senate Media In addition to the that penalty, a landlord that is found to have held tenantâs security deposit in bad faith can be fined another $500. Keep a copy. Labels, Joint Departments, My wife and I spent our honeymoon in the Poconos here in PA the week of Oct. 10th. If you sell your property or the property otherwise changes ownership, within 60 days of this change in ownership, you must do one of two things: For the original text of the law governing security deposits in the state of Minnesota, please consult, Minnesota Statutes Annotated §§ 504B.118, 504B.151, 504B.178 and 504B.195 . Guide, Address Senate, Secretary Withholding all or any portion of rent for the last payment period of the residential rental agreement creates a rebuttable presumption that the tenant withheld the last payment on the grounds that the deposit should serve as payment for the rent. Video, Broadcast TV, News, & Photos, Live The program works by asking you questions. Laws, Statutes, The penalty amount is equal to the security deposit. Commission on Pensions & Retirement (LCPR), Lessard-Sams Outdoor Heritage Information, Caucuses - Archives, Video Meetings, Standing Council, Schedules, Calendars, (c) In any action concerning the deposit, the burden of proving, by a fair preponderance of the evidence, the reason for withholding all or any portion of the deposit shall be on the landlord. 5 Times a Landlord Does Not Have to Return a Tenant's Security Deposit This includes a security deposit for any pets you own. The landlord may withhold from the deposit only amounts reasonably necessary: (1) to remedy tenant defaults in the payment of rent or of other funds due to the landlord pursuant to an agreement; or. Under Minnesota law, a landlord must return the tenant's security deposit within three weeks after the tenant has surrendered the rental property to the landlord (that is, returned the keys and vacated the property) and the landlord has received the tenant's forwarding address; but within five days if the tenant must leave due to building condemnation. The provisions of this section shall apply only to tenancies commencing or renewed on or after July 1, 1973. If the tenant is paying the security deposit in cash, a Minnesota landlord must provide the tenant with a receipt. Rules, Address Commission (LCC), Legislative-Citizen Commission Upcoming Meetings, Broadcast TV Alas, no. The Basics of Minnesota's Security Deposit Law, Landlord Must Provide a Receipt for Cash Deposit, Reasons a Tenant’s Security Deposit Can Be Kept, When a Tenant’s Security Deposit Must Be Returned, What Happens to Deposit If You Sell Rental Property, 7 Basics of Security Deposits in Oklahoma, 7 FAQ's About Security Deposits in Maryland, The Basics of Iowa's Security Deposit Law, 9 FAQs About Security Deposits in Indiana, The Basic of New Hampshire's Security Deposit Law, 9 Basics of Security Deposits in Colorado, The Basics of Connecticut's Security Deposit Law, 8 FAQ's About Security Deposits in Wisconsin, 7 Basic Security Deposit Rules in New Mexico, Utah Security Deposit Laws and Regulations, Virginia’s Security Deposit Law- A Guide for Landlords and Tenants, The Balance Small Business is part of the. Refund of the Security Deposit. You can consult Minnesota Statute §504B.151 for exceptions to this notification. Journal, Senate The bad faith retention by a landlord of a deposit, the interest thereon, or any portion thereof, in violation of this section shall subject the landlord to punitive damages not to exceed $500 for each deposit in addition to the damages provided in subdivision 4. for the Day, Supplemental (2) return the deposit, or any remainder after any lawful deductions made under subdivision 3, with interest thereon as provided in subdivision 2, to the tenant. The account must bear interest at a rate of one percent per year. Fiscal Analysis, Legislative In order to get back 100% of your deposit when you vacate the property, you need to make sure the property is returned in the state you found it when you first moved in. This free program helps you create a letter to request the return of a security deposit in Minnesota. & reports. She has more than 16 years of experience in real estate. There is no statewide limit on the maximum amount a landlord in Minnesota can charge a tenant as a security deposit. c. 186, §15B(4)(i) and G.L. According to Minnesota law, a landlord has 3 weeks to return a security deposit after vacating the premises. Fact Sheets. In 2017 landlords in the USA made an estimated 463 Million Dollars in unlawfully held tenant security deposits ⦠often with the consent and/or acknowledgement of the tenant (who erroneously believes the taking is lawful and/or justified). Check out this preview of our template and then download the full security deposit return letter as a PDF. Know Minnesotaâs Rules for Returning Deposits The most important thing you can do is to follow state law scrupulously when you return security deposits.
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