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Landlords have the right
to require tenants to pay a security deposit (sometimes called a
"damage deposit").
This is money paid by the tenant and held by the landlord to pay for any
damage, beyond ordinary wear and tear, the tenant might do to the rental
unit. It can be used to pay for any unpaid rent, or any money the tenant
owes to the landlord under the lease or another agreement. The
security deposit cannot be used by the tenant to pay the rent.
Amount of the Deposit
Minnesota law does not limit the
amount a landlord may require as a security deposit. A landlord can
increase the amount of the security deposit at any time during a
"periodic tenancy" (a rental agreement in which
no final date is mentioned), but only if the tenant is given proper
advance written notice.
Generally, this is one rental period plus a day. (See Page 19 for an
explanation of "proper notice.")
If the deposit amount is stated in the
rental agreement, and the rental agreement has a definite ending date, no
changes in the deposit can be made unless both parties agree to the
changes or the lease allows for changes.
At the end of the tenancy, the landlord
must return the deposit to the tenant with interest.
*From the Attorney General Landlord
Tenant Guide |
