Short-Term Rental Regulations in Minneapolis, MN 2018-05-24T11:05:06+00:00

Short-Term Rental Regulations in Minneapolis, MN

Short-Term Rental Regulations in Minneapolis, MN

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Minneapolis is the county seat of Hennepin County, and the larger of the Twin Cities, the 16th-largest metropolitan area in the United States. As of 2016, Minneapolis is the largest city in the state of Minnesota and 46th-largest in the United States, with an estimated population of 413,651.[3] The Twin Cities metropolitan area consists of Minneapolis, its neighbor Saint Paul, and suburbs which altogether contain about 3.6 million people, and is the second-largest economic center in the Midwest.

Short-term Rental License Overview

Categories

Owner-Occupied (Does not need Registration)

  1. Owner Lives in the Unit
  2. Part of the Unit is rented
  3. Owner stays during the rental period

Owner Occupied (Short Term Rental property registration required)

  1. Owner Lives in the Unit
  2. The entire unit is rented
  3. Owner leaves during the rental period

Non owner-occupied (Rental License Required)

  1. The entire unit is rented
  2. Owner does not live in the unit
  3. Tier 1 or Tier 2 rental licenses are eligible for short term rental
  4. Accessory Dwelling Units continue to need a rental license

 

Fees:

Under the short-term rental ordinance, rental properties are categorized as follows:

  • A short-term rental property registration or rental license is not required for an owner who lives at the property, rents a room and stays at the property during the rental period.
  • A short-term rental property registration is required for an owner who lives at the property, rents out an entire unit and leaves the property during the rental period.
  • A rental license is required for the owner of a non-occupied rental property who rents out an entire unit. Only Tier 1 or Tier 2 rental licenses are eligible for this designation.

Short-Term Rental Regulations in Minneapolis, MN – The ordinance applies to dwelling units rented for a period of fewer than 30 consecutive days per leasing period. The short-term rental registration fee is $46. Rental licenses for Tier 1 properties will range from $70 to $175, plus $5 for each additional unit, and $112 to $350 for Tier 2 properties, plus $5 for each additional unit. You do not need to reapply if you have a valid rental license and are a Tier 1 or Tier 2 property. For more information about rental licensing fees, visit the Rental Licensing Fees webpage. The City will begin accepting short-term rental registration and license applications Dec. 1, 2017.

Short-term rental hosting platforms, which collect a fee for booking services and often provide an online platform for property owners to advertise a dwelling unit, will be required to submit an annual business license application. The annual license fee for a platform with fewer than 150 active dwelling unit listings will be $630, and for a platform with 150 or more active listings will be $5,000. The City’s Business License division will start accepting license applications for hosting platforms Dec. 1, 2017.

Link to more information from City of Minneapolis
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Article Sources:

SHORT TERM RENTALS REGULATION & LICENSING

http://www.minneapolismn.gov/inspections/rental/shorttermrentals

MINNEAPOLIS SUMMARY

https://en.wikipedia.org/wiki/Minneapolis

Short-Term Rental Regulations in Minneapolis, MN

Posted By Noah Goldfeder

Marketing Team
Posted: Friday April 20th 2018

Short-Term Rental Regulations in Minneapolis, MN

Posted By Noah Goldfeder

Marketing Team
Posted: Friday April 20th 2018

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