Minnesota Standard Residential Lease Agreement Template
The Minnesota standard residential lease agreement is a lease that is for a set period of time (usually one (1) year) that allows a tenant to occupy and live in a space in exchange for monthly payments to the landlord. A standard lease will include the terms and conditions of renting the property, including the monthly rental fee, prohibited activities, the provision of utilities, and the security deposit amount (if applicable). The agreement is usually drafted and signed after a thorough review of the tenant’s financial credentials including references from prior landlords.
Required Disclosures (5)
Covenant of Landlord and Tenant Not to Allow Unlawful Activities (§ 504B.171) – All residential lease agreements formed in the State of Minnesota must include the words contained in the statute concerning unlawful activities.
Financial Distress (§ 504B.151) – If the landlord’s property is being foreclosed upon or a deed of cancellation has been issued, a tenant may not legally sign for more than a two (2) month period.
Landlord/Manager Information (§ 504B.181) – In the lease agreement, the landlord must disclose the individual authorized to manage on the premises.
Lead-Based Paint Disclosure – Required by federal law for all tenants moving into properties that were constructed prior to 1978.
Outstanding Inspection Orders (§ 504B.195) – If the premises has any outstanding inspection orders due to a property’s code infraction it must be relayed to the tenant.