The Minnesota Standard Residential Lease Agreement Form is a written legal contract whose sole purpose is to bind an owner and a tenant to the terms it contains. This is done by having each party sign this document from a given date. Several aspects of such a contract must be discussed in depth between these two parties before this lease is concluded. If a property in Minnesota has an unpaid health and safety order with a citation for it, a landlord must disclose it in the rental agreement before the tenant signs or pays a deposit. Step 4 – Line 8 has three empty lines to define the leased property. Enter the street address, city and postcode of this property in the duly labelled premises. Step 27 – In the “Reception per Tenant” field, each tenant can sign their name and stagnate as confirmation that they have received a signed original or a copy of the lease. Below, a Move-In Inspection and Move-Out Inspection checklist are created. Each line must have the condition described by the object in the first column of the second column. The third column is reserved for all comments. The bottom of each checklist contains an area for each landlord and tenant that can be signed once completed. It is necessary for the minnesota homeowners, who manage a building with a single supply meter, to act as payers responsible for the entire building and disclose this fact in the lease agreement.
They must also provide information in the rental agreement on how the fees are distributed. On request, a copy of the total and distributed unit costs is available for each month of the last two calendar years. Information about the Low Income Home Energy Assistance Program is also provided during the duration of your lease. Late charges in Minnesota must be described in the lease agreement to be enforceable, including the amount of the fee and the date on which they are assessed. This fee must not exceed 8% of the outstanding balance and can only be charged after the specified due date, which is included in the lease. Late fees. If the rent is not paid until the due date set in this lease, a delay of 8% is charged on the balance due after an additional 3 days. If the payment was received before the additional period expires, no late fee is due. The following section is an example of common utility agreement: The following information or supplements are required either for some or for all leases in Minnesota. Inspection orders should be included as an appendix to the lease agreement. Create a standard Minnesota official rental contract for residential real estate (see above), download a free, filling-up model form (see Word and PDF buttons) or continue reading to learn more about Minnesota State lease laws.