Minnesota landlord rules: deposits, late fees and notices

Security deposit

Maximum deposit

No statewide cap

Return deadline

21 days after the tenancy ends

Penalty for late return

bad faith adds $500 punitive

Interest owed

Yes

Note

1% simple interest

Work out the return date for a move-out

Source: Minn. Stat. §504B.178

Late fees

Rule

capped at 8% of overdue rent

Grace period

Not in our data

No statute cited in our data

Notice periods

Notice to pay or quit

14 days

Ending a month-to-month tenancy

one rental period plus one day

Notice before entering a unit

24 hours

Work out the last day of a notice

No statute cited in our data

Screening

Source-of-income protection

Yes, statewide. Refusing a housing voucher is illegal.

No statute cited in our data

Licensing

To manage for others

A real-estate broker license, to manage property for others.

No statute cited in our data

How long an eviction takes

Slow: about 2 to 4 months. This is a rough tier from our data, not a court timeline.

St. Paul rent cap

Formula

3% flat annual cap (exception process available)

This year's figure

3%

Published by

city ordinance (constant, not annually indexed)

Applies to

St. Paul

Source: St. Paul residential rent stabilization ordinance

Interest owed on deposits

Formula

1% simple interest (statutory constant)

This year's figure

1%

Published by

statute

Applies to

state

Source: Minn. Stat. §504B.178

A federal rule that can override this

Notice for nonpayment on covered properties

30 days

Note

Applies to 'covered properties' (federally backed mortgage or federal housing program). The 30-day notice requirement has no statutory sunset and courts are split - safest practice is a 30-day nonpayment notice on any covered property, regardless of shorter state timelines.

Source: CARES Act §4024