Property Management
Minnesota's implied warranty of habitability requires landlords to:
AMaintain the property in luxury condition
BKeep the rental unit in a condition fit for human habitation, complying with health and safety codes✓ Correct
CProvide all utilities at the landlord's expense
DReplace appliances every 5 years
Explanation
The implied warranty of habitability requires landlords to maintain rental property in a safe, livable condition that complies with applicable building, housing, and health codes. Tenants may withhold rent or repair-and-deduct if the landlord fails to maintain habitability.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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