How are you handling rent increases in Maryland during COVID?
Currently, I have two rentals with on-time paying tenants. No hick-ups during the pandemic in 2020 or 2021, monthly payments received on time. Rent was not increased during this time as well. Now, we are in 2022 and I would like to know how are you handling rent increases in Maryland? Are you using a standard annual increase or an annual increase based on the market?
All feedback is appreciated.
Thanks
Are rent increases allowed. I thought that they were not allowed under Gov’s emergency declaration. Has this been lifted?
No restrictions other than those in place pre 2020. It’s county and city specific as to what’s allowed.
We are only raising on new leases at this time. But then we also underwent a renovation program and 70% of our leases are 2 years old or less, therefore pretty much at market.
Thank you very much for the feedback. I find conflicting information so I am not sure if rents can be raised or not, based on the following from https://library.municode.com/m...
"DHCD and DPIE shall post notice to license holders of the prohibition of rent increases for a tenant that has not suffered a substantial loss of income as defined in CB-16-2020 and CB-52-2020, evictions, late fees or penalties and the two-point six percent (2.6%) per annum limit on rent increases for any tenant that has not suffered a substantial loss of income, within 15 days of the enactment of this bill."
It seems like there is a cap in Maryland but rents can be raised?
Thanks again
Your cited article is specific to PG county, not Maryland as a whole. I’m not an attorney, so this isn’t legal advice. The way I read that article is in PG county you’re limited on rent increases to 2.5% max and if your tenant can prove loss of income because of Covid no increases. Also, no increases until 90 days post declare emergency by the governor. These limitations only apply to existing tenants.
Your input is appreciated. Yes, I am seeking the restriction that applies to Prince George's County. I can not seem to find a straight answer as to where things stand with rent increases in 2022.
@Ernest McNeil I decided the high likelihood of creating strife with my tenants is not worth a 0.4% increase in rent. That is the “voluntary” rent guideline that just took effect in Montgomery County today.
https://www3.montgomerycountymd.gov/311/Solutions.aspx?SolutionId=1-TYH51
