North Minneapolis residents fight out-of-state investors, poor maintenance
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If you’re a landlord in the city of Minneapolis, you already have the home field advantage when it comes to the rental game. But some North Minneapolis residents say they’re tired of out-of-state landlords playing hardball with their neighborhoods.Last month, more than 130 Minneapolis residents signed a petition demanding a moratorium on rental licenses issued by the city of Minneapolis until all Northside residencies have been inspected and brought up to code.“There is a problem in the city of Minneapolis with proper tracking of the conditions of some of the rental properties,” said north Minneapolis resident Connie Beckers in the petition. “Too many single family homes have been scooped up by investors who rent them out, don’t screen their tenants and don’t keep up with even minimal upkeep at their properties.”Data from the Minneapolis Regulatory Services shows the number of rental licenses distributed to owners with more than 10 rental licenses has risen dramatically in the city over the last decade. According to the data, monopolization of properties by single owners in the Folwell, Jordan and Hawthorne neighborhoods have more than doubled in the last five years.Beckers said that part of the problem is that there’s too much focus on rental properties. An out-of-state investor recently purchased five homes on her block, she said, bringing the number of rental properties on her block to 15, while only nine are retained by homeowners.“Most are single family homes which are often poorly cared for and maintained.” Beckers said. Continue Reading



