How to Be a Landlord in Minnesota

Being a landlord involves more than just collecting the rent.

No special process exists to become a landlord in Minnesota. However, if you are interested in purchasing a property to rent out, make sure you understand what it means to be a landlord. Like all other states, Minnesota landlords must follow and comply with the state's "Landlords and Tenants: Rights and Responsibilities" handbook. Before you decide to advertise for a tenant, make sure you are familiar with your responsibilities and have the demeanor to be a successful landlord.

Instructions

1. Read Minnesota's "Landlords and Tenants: Rights and Responsibilities" handbook. You can find a copy online. Become familiar with your responsibilities and the responsibilities of your tenants before looking for a tenant.

2. Learn how to screen tenants. A hasty landlord will often end up in an undesirable situation with an irresponsible tenant, or one who doesn't pay the rent on time. Learn how to run credit checks and follow up on tenant references.

3. Be aware that being a landlord requires commitment. If a pipe bursts in the middle of the night, you must be available to fix it.

4. Learn how to do repairs yourself, so you can save money if something breaks. Being handy and available to do maintenance on your own property will save you money and time.

5. Sign a lease when you are ready for a tenant to move in. The lease will help protect you if the tenant does not pay the rent, or damages your property.

References

• Directory M: What Does it Take to be a Landlord- Minnesota
• Tenant.net: Landlords and Tenants