REVISED MINNESOTA RESIDENTIAL LEASE AGREEMENT – EFFECTIVE IMMEDIATELY –

The Minnesota Legislature has adopted new requirements for residential leases that are EFFECTIVE IMMEDIATELY.

The revised law (Minn. Stat. § 504B) now requires that a written residential lease MUST:

1. Identify the specific unit the residential tenant will occupy before they sign the lease (for a residential building with 12+ units);
2. Identify the lease start date and lease end date;
3. Indicate the amount of prorated rent on the first page of the lease (if the lease requires the tenant to move in or out on a date other than the first or last day of the month and the rent is prorated);

REVISED RESIDENTIAL LEASE AGREEMENT: The legislative changes above have been reflected in the 05/19 revision to the Minnesota REALTORS^® Residential Lease Agreement which has been posted to Instanet for your immediate use.

Other Statutory Changes Affecting Residential Leases:

For those REALTOR^® members that may use or encounter other residential leases, please take note that this legislation also requires that the landlord must give the tenant the option to choose the notice period if of residential lease provides a time period for the landlord to give notice to quit the premises or notice of a rent increase that is different than the time period the tenant is required to give for notice of intention to quit the premises.

The tenant will be allowed to give notice of an intention to quit the premises using either:

1. the time period provided in the lease for the tenant to give a notice of intention to quit the premises; or
2. the time period provided in the lease for the landlord to give a notice to quit the premises or notice of a rent increase.

The landlord however will not be able to give notice to quit the premises or notice of a rent increase that is shorter than the time period the lease provides for the tenant to give notice of an intention to quit the premises.

ALL OF THE ABOVE PROVISIONS MAY NOT BE WAIVED OR MODIFIED BY THE PARTIES TO THE RESIDENTIAL LEASE. ANY WAIVER (ORAL OR WRITTEN) VOID AS AGAINST PUBLIC POLICY.