Property Management
A Minnesota property manager collects security deposits from tenants. Under state law, within how many days after lease termination must deposits be returned or an itemized statement provided?
A14 days
B21 days✓ Correct
C30 days
D45 days
Explanation
Minnesota Statute 504B.178 requires landlords to return security deposits (or provide an itemized statement of deductions) within 21 days after the tenant vacates and provides a forwarding address. Failure to comply can result in the landlord owing the tenant double the wrongfully withheld amount plus attorney fees.
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