💡 Key Fact: Minnesota has specific property management-related courses available. The Twin Cities metro area has a strong rental market with steady demand.
Minnesota Rental Market Snapshot
Population
5.7M
Renter Households
~750,000 renter households
Top Cities
Minneapolis, St. Paul, Rochester, Bloomington
License Required?
real estate license
License Requirements Overview
| Requirement | Details |
|---|---|
| License Type | real estate license |
| Regulatory Authority | Minnesota Department of Commerce |
| Pre-License Education | 90 hours pre-license |
| State Exam | 120 questions, 75% passing score |
| Estimated Cost | $500-$1,000 |
| Renewal Period | 2 years |
| Broker Supervision | Required (must work under a licensed broker) |
Step-by-Step: How to Get Licensed in Minnesota
- Complete pre-license education — 90 hours pre-license. Available online through approved providers.
- Pass the state exam — 120 questions with a 75% passing score required.
- Submit your application — Apply through Minnesota Department of Commerce with your exam results, fingerprints, and background check.
- Find a sponsoring broker — Required. You must work under a licensed broker until you obtain your own broker license.
- Get your license activated — Once approved, your license must be activated before you can practice.
Cost Breakdown
| Expense | Estimated Cost |
|---|---|
| Pre-license courses | $500-NaN |
| State exam fee | $50-$100 |
| License application | $100-$300 |
| Background check/fingerprints | $40-$75 |
| Total Estimated | $500-$1,000 |
Tips for Success as a Property Manager in Minnesota
- Know your local landlord-tenant laws — Minnesota has specific regulations that differ from other states. Stay current on security deposit limits, eviction procedures, and fair housing requirements.
- Join your state NARPM chapter — National Association of Residential Property Managers has local chapters in most states. Great for networking and continuing education.
- Invest in property management software — Tools like AppFolio, Buildium, or RentManager will help you scale efficiently.
- Build SOPs early — Standardized processes for maintenance, tenant screening, move-ins, and owner reporting are essential for scaling beyond 50 doors.
- Focus on owner acquisition — The #1 growth lever for PM companies is getting more property owners to trust you with their properties.
Ready to Scale Your Minnesota PM Company?
Get our free SOP templates — maintenance triage, move-in/out checklists, and owner reporting templates used by top PM companies.
Download Free SOPs →Other State Licensing Guides
Looking for property management licensing info in other states? Check out our complete guide library:
- California PM License Guide
- Florida PM License Guide
- Texas PM License Guide
- Property Management Certification Guide (All States)