Common Renter Questions & Answers
If you are searching for a rental property in the Twin Cities area, you may have more questions than just those related to the properties you’re looking at – you may have questions about the process of renting too! We’ve rented properties throughout the Minneapolis – St. Paul area and in nearby suburbs, so we can confidently answer your rental questions. If you’re a renter in Minnesota, we can help!
Rent is always due on the first of every month. The policy of CMS is to give the tenant a “grace period” typically of 3 days. If rent is not paid within the grace period, then the late fee will be added to the rent due. Lates fees in Minnesota cannot exceed more than 8% of the rent amount.
Every owner and management company has different criteria but having a positive credit history, strong rental references and a clean criminal history are among the most favorable qualifications. Also, you should make at least 3x’s the monthly rent in order to qualify for a property you are applying for. Application fees typically run between 50 and 75 per adult. These fees are non-refundable.
We strongly advise getting a rental insurance policy to protect your personal belongings as these things are not covered under the owners insurance policy so if the worst happens (fire, flood etc.) you won’t be able to recoup anything that is damaged.
Typically 1 or 2 full calendar months’ notice, most agencies are 2 calendar months. I.E. if your lease is up May 31st, and you do not wish to renew your lease and there is a two calendar month notice period, you need to inform your landlord on or before March 31st. If you give your notice after that date, the landlord can hold you to an additional month if he/she so chooses, meaning you would need to pay rent through June instead of paying through May.
Some think it needs to be paid immediately but Minnesota statute does give the owner 21 days after tenant has vacated the property, so they have time to access any damages, cleaning charges or delinquent rent or utilities that are owed. Once that has been determined the deposit + 1% interest minus any monies owed will be refunded to the tenant. It is important that you supply your landlord with your new forwarding address to avoid delays in receiving your deposit.
The general rule of thumb is that the landlord is required to give tenant 24 hours advanced notice prior to entering the unit. The exception to the rule is if there is an emergency, the landlord may enter the unit as his/her discretion.
The minimum age is 18, however some properties or owners may have either a 21 and older policy or having rented at least one place previous. Sometimes you can rent a place for the first time with extra deposit or having a strong cosigner.
The average lease term initially is 1 year, and some landlords will give you the option to go month to month after you have fulfilled the term of the lease or you can renew for another year. Terms always vary with different owners or management companies, so it is a good idea to know this information and what their policy is ahead of time. Sometimes you can find lease terms that are less than one year (like 6 or 9 months or even shorter) but most of the time there will be an additional monthly premium for leases less than 1 year. You will want to inquire about this with each property if you are not able to commit to their required lease terms.
Everyone listed on the lease that has signed the lease is responsible for the rent. If the rent is no paid repercussions will come to all tenants. Choosing responsible roommates is strongly advised to avoid ending up with an eviction or negative rental references on your record.
Most companies require a security deposit equal to one month’s rent which you pay upon signing the lease. This can vary and be additional based on company criteria. Sometimes owners may approve an application with additional {up to double} deposit. You will also incur a credit/ background fee which ranges from $50-100 per person and is non-refundable.