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Free Minnesota Property
Management Agreement Template

Who owns the property, who will manage it, and when the arrangement begins.

Last reviewed September 2026

Written by LawLease Editorial

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Minnesota Property Management Agreement

This Property Management 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 Property Management 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
Landlord entryGood-faith effort at 24 hours’ notice, 8:00am–8:00pm, for a reasonable business purposeMinn. Stat. §504B.211
Late feesMust be agreed in writing; max 8% of the overdue rentMinn. Stat. §504B.177

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).

Rent, late fees & fees

  • Late fees — A late fee is allowed only if the landlord and tenant agreed to it in writing, and it can’t exceed 8% of the overdue rent. For subsidized tenancies it’s calculated only on the tenant’s share (§504B.177).
  • Total Monthly Payment — Every non-optional fee must be disclosed in the lease, and rent plus all non-optional fees must appear as the “Total Monthly Payment” on the first page, along with whether utilities are included. Violations carry treble damages (§504B.120).
  • Payment methods — Cash rent requires a written receipt. Since August 1, 2026, a landlord that uses an online payment platform must offer a free alternative when the platform isn’t working, and can’t charge late fees or evict when both methods fail (§504B.118).
  • Early renewal — For leases over ten months, a landlord can’t require the tenant to decide on renewal earlier than six months before the lease ends (§504B.144).
  • Rent control — Cities can control rents only through an ordinance approved by voters in a general election (§471.9996). St. Paul’s voter-approved rent stabilization ordinance limits most annual increases, with exemptions; check local rules before raising rent there.

Landlord entry & access

A Minnesota landlord may enter only for a reasonable business purpose — such as repairs, showings to prospective tenants or buyers, code inspections, or a reasonable belief that the lease is being violated — after making a good-faith effort to give at least 24 hours’ notice. The notice must state a time or window of entry, and entry is limited to 8:00am–8:00pm unless the tenant agrees otherwise (§504B.211).

Immediate entry without notice is allowed only to prevent injury to people or property, to check on a tenant’s safety, or to comply with local ordinances on unlawful activity. A landlord who enters while the tenant is away without notice must leave a written disclosure. A tenant can’t be required to waive these rights, and each violation can cost the landlord up to $500 plus attorney’s fees (§504B.211, subds. 2, 4–6).

Minnesota Property Management 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).

What is the maximum late fee in Minnesota?

Eight percent of the overdue rent payment, and only if the lease or another written agreement allows a late fee and says when it applies (§504B.177).

More Minnesota landlord documents

Property Management Agreement in other states

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