Minnesota Statute Section 504B.178 caps rental security deposits and mandates return within 21 days after lease end, with itemized deductions and 1% monthly interest accrual on deposits held over a year.
Minnesota Statute Section 504B.178 governs security deposits across Minneapolis rentals. Landlords must return the deposit, with simple interest at 1% per year, within 21 days of the tenant providing a forwarding address after vacating. Itemized deductions for damage beyond ordinary wear and tear must accompany any withholding. Tenants who do not receive timely return may sue for the full deposit plus a punitive amount equal to the wrongfully withheld portion. Minneapolis does not impose a separate deposit cap, but state law caps deposits to a reasonable amount, generally interpreted as one month's rent. Pet deposits must follow same rules.
Failing to return deposit within 21 days, withholding without itemized statement, or unreasonable damage deductions exposes landlords to small claims liability for double the wrongfully withheld amount plus interest.
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See how Minneapolis's security deposit rules rules stack up against other locations.
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