Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
The Maryland house of representatives has proposed house bill 315 that limits rent increases to 5% and limits your rights to remove a tenant to 11 "Just Cause" reasons. The fact your tenant is jerk is not considered a "just cause" to choose not to renew the lease. Removal of a tenant for breach of lease must now meet the subjective standard of "Substantial"
Investor / Developer / GC · Manassas, VA · Member since 2013 · 229 posts · 39 votes
13y
Were in Northern Virginia and I think long and hard before doing business in MD. It's not only the state regulations but, also local policies that make developing, building or investing very "difficult" at times. Whether were talking commercial or residential I'll pursue the project in Virginia over Maryland 99% of the time. Just my choice and opinion..
Investor · North Wales, PA · Member since 2013 · 116 posts · 44 votes
13y
Interesting read. One thing that I noticed is that although the amount of increase is clearly stated at no more than 5%, they completely neglected to mention how often that one may raise the rent this 5%.
Given the tone of this though, there's a good chance that a judge would find 5% increases in rapid succession to be problematic. But offering a series of month-to-month or 6-month leases would seemingly allow for a landlord to raise the rent in a stepwise fashion... at least according to the letter of this law.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
13y
Jon Klaus I laughed out loud at that one. You'd think liberal areas like Baltimore City or California which are both going broke would figure out Texas policies seem to work better.
Nucon Va Despite the problems, I am getting great ROI in Baltimore.
Sam Parkins LOL
Fran Flanagan Shhh, don't let them know we found a loophole. That is a perfect example of unintended consequences. This could very well lead to faster and more frequent increases.
Simi Valley, CA · Member since 2013 · 15 posts · 0 votes
13y
This would be bad news for me. I've got 3 properties under contract (short sale) in PG county. Let's see what happens. Thanks for letting the forum know - Being out of state, I had not idea...
Lender · Woodland Hills, CA · Member since 2013 · 362 posts · 115 votes
13y
Brother Ned Carey we have rent control out here in Santa Monica, CA and as far as investors are concerned. All properties in rent controlled areas are radioactive.
Do you all have a lobby out there? Ned, you da man. . . you should become the chief lobbyist. . .