I'm prepping to move to Montana in June and I own a townhouse in Minnesota that I plan on just renting out. As I am knee-deep in working with my property management company, I find out I need to let the city know I plan on renting it out. My association, sure. The city? Fine. I contact the city and find out I need to APPLY for a rental license! Seriously? Apparently I'm completely oblivious to things because I assumed if I owned a home it was mine to do what I wanted (within reason of course.)
Turns out I had to pay $325 to apply for the 3-year rental license ($100) and have a city inspector come "approve" my home ($225). I was shocked and maybe naive to think I had to pay so much just to rent out my own home.
Anyone else rent out their home and come across this? Yikes!
Rental License??
April 8th, 2015 at 09:03 pm
April 8th, 2015 at 10:32 pm 1428532344
I could have tried to just do a handshake agreement with my friends, but it occurred to me that just in case anything soured between us (it hasn't at all), I should probably be doing things above board.
Now they're going to come inspect my friends' unit this month. Ugh! I wish there were ways to get around it if you're not a "real" landlord.
April 9th, 2015 at 04:02 pm 1428595355