MN HF2152

Adds new subsection (e) to Minnesota Statutes section 82.73, subdivision 3, exempting brokers and licensees from supervising or operating property management activities on real property they own or have an ownership interest in.

Defines "individually owned" real estate as property in which the licensee holds an ownership interest.

Defines "entity-owned" real estate as property owned by a corporation, limited liability company, partnership, or trust in which the licensee holds an ownership interest as an owner, trustee, partner, officer, or beneficiary.

Exemption applies to property management activities including leasing, maintenance, and repair, provided the real property meets the "individually owned" or "entity-owned" criteria.

Effective the day following final enactment and applies to property management activities performed on or after that date.