MN HF685

Creates a statewide landlord database managed by the Housing Finance Agency that collects owner names, business addresses, property manager contact information, rent amounts, and rental license details, with free public access and no submission fees for landlords.

Prohibits corporate owners from renting single-family homes when they own 10 or more non-homestead rental properties, and individual owners when they own 20 or more such properties, with a two-year divestment period from August 1, 2024.

Exempts government agencies, land trusts, nonprofits, licensed care facilities, employers renting to employees, housing development corporations, and foreclosure mortgage holders from the single-family rental restrictions.

Establishes enforcement mechanisms including tenant reporting to trigger 30-day compliance notices, attorney general civil penalties of up to $5,000 for repeated database violations, and $100,000 fines per property for corporate rental violations, with collected fines deposited into the workforce and affordable homeownership development program.

Requires landlords to disclose in writing to tenants the names and contact information for all parties with interests in the rental property.