Here’s the latest real estate news around Minnesota of interest to property buyers, home sellers, renters, landlords, property managers and the generally home-curious.
Foreclosure rate in Minnesota lowest in a decade. The foreclosure rate in Minnesota is now at the lowest level in more than a decade, and far below the national average. Also, Minneapolis tops list of cities with best average credit score.
Super Bowl short-term home rentals & insurance coverage. The Super Bowl is coming to Minneapolis, Minnesota on February 4, and with it, a wave of football fans attending the big game. With this influx of visitors, the Minnesota Commerce Department (MCD) is urging homeowners who may be renting out their home for the weekend to make themselves aware of the insurance implications.
Does an unlicensed landlord have the right to collect rent? Some cities require landlords to pay a penalty and fees if they are operating without a license. There is no bright-line rule stating that you don’t have to pay rent when the landlord is unlicensed, but a number of courts have determined that landlords who are unlicensed.
Lack of affordable housing has tenants fighting to stay in problem landlord’s properties. There’s currently less than a 2 percent vacancy rate for affordable housing in Minneapolis, so landlords can be picky and turn away tenants with bad credit, criminal records or previous evictions.Sick of renters or repairs? Get an offer on your home from us instead. Call us 612-470-3789 or click here.
Here’s our top tip of the week: How to Plan Your Next Remodel Like a Pro (Without Going Nuts in the Process). Get the scoop on all the work that goes into planning a remodel — and how you can pull it off the right way.