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Free Minnesota Cash for
Keys Agreement Template

Last reviewed September 2026

Written by LawLease Editorial

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Minnesota Cash for Keys Agreement

This Cash for Keys Agreement is built with Minnesota as the governing state. These are the Minnesota landlord-tenant rules that most often bear on it, with the statute for each.

Minnesota rules at a glance

Minnesota rules for a Cash for Keys Agreement
Security deposit limitNo statutory capMinn. Stat. §504B.178
Deposit return3 weeks after the tenancy ends and the landlord has the tenant’s mailing address, with 1% interestMinn. Stat. §504B.178, subd. 3
Month-to-month terminationWritten notice of one rental period (max three months)Minn. Stat. §504B.135
Nonpayment notice14-day written notice with required statementsMinn. Stat. §504B.321, subd. 1a

Security deposits in Minnesota

Minnesota sets no maximum security deposit, but it is one of the few states that still requires interest on it, and the return deadline is short.

  • Interest — The deposit earns 1% simple, non-compounded interest a year, from the first day of the month after it’s fully paid until the landlord returns it. Interest amounts under $1 are excluded (§504B.178, subd. 2).
  • Return — Within three weeks after the tenancy ends and the landlord receives the tenant’s mailing address or delivery instructions, the landlord must return the deposit with interest or mail a written statement of the specific reasons for withholding. If the building is condemned through no fault of the tenant, the deadline is five days (§504B.178, subd. 3).
  • Allowed deductions — Only unpaid rent or other money owed under the lease, and the cost of restoring the unit to its move-in condition, ordinary wear and tear excepted. The landlord bears the burden of proving every deduction (§504B.178, subd. 3).
  • Inspections — Since 2024, the landlord must tell the tenant at move-in (or within 14 days) of the right to request an initial inspection, and near the end of the tenancy of the right to a move-out inspection so problems can be fixed before deductions (§504B.182).
  • Penalties — A landlord who misses the deadline owes the withheld amount again as a penalty, plus the deposit and interest; bad-faith retention adds up to $500 in punitive damages per deposit (§504B.178, subds. 4, 7).
  • Last month’s rent — A tenant can’t withhold the last month’s rent on the theory that the deposit covers it, except in a month-to-month tenancy where no notice to quit has been served (§504B.178, subd. 8).

Ending a Minnesota tenancy

A month-to-month tenancy ends by written notice at least as long as the interval between rent due dates, or three months if that is shorter (§504B.135). A fixed-term lease ends on its end date unless the lease requires notice or renews automatically.

Key Minnesota notice periods
Month-to-month (either party)One full rental period, in writing§504B.135
Nonpayment of rent14 days (longer if a local ordinance requires)§504B.321, subd. 1a
Death of the sole tenantTwo months’ written notice, ending on the last day of a month§504B.265
  • Nonpayment notice — Before filing for unpaid rent or fees, the landlord must deliver a written notice with the total due, an itemized accounting, the name and address for payment, and three statutory statements about legal aid, emergency assistance and the 14-day deadline. A case filed without it is dismissed and expunged (§504B.321, subds. 1, 1a).
  • Violence survivors — A tenant who fears imminent violence after domestic abuse, criminal sexual conduct, sexual extortion or harassment can end the lease with signed written notice and a qualifying document, owing rent only through the month the tenancy ends (§504B.206).
  • Medical need — A tenant found by a medical professional to need to move into a care facility may end the lease early (§504B.266).
  • Abandonment — If a tenant leaves early, the landlord must make reasonable efforts to re-rent at fair rental value; the tenant isn’t liable for rent after a new tenancy starts (§504B.154).

Minnesota Cash for Keys Agreement FAQs

How much can a landlord charge for a security deposit in Minnesota?

Minnesota sets no maximum. The deposit must earn 1% simple interest a year and be returned, or withholding explained in writing, within three weeks after the tenancy ends and the landlord has the tenant’s mailing address (§504B.178).

How long does a landlord have to return a security deposit in Minnesota?

Three weeks after the later of the tenancy ending and receiving the tenant’s forwarding address — five days if the building was condemned through no fault of the tenant. Late or bad-faith withholding brings a penalty equal to the amount withheld plus up to $500 in punitive damages (§504B.178, subds. 3, 4, 7).

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