REAL PROPERTY NEWS

REAL Property News is an e-newsletter and blog that discusses news, legal developments and trends of vital interest to landlords, property managers, and real estate investors.  Click Here to subscribe. 

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WHAT’S IN A BASEMENT?  Adventures in Licensing Basement Rentals in Maryland (9/21/2012)

Regulatory requirements for basements converted into rental apartments are nothing new.  But, until recently, operating without required government approvals was of little to no consequence.  Non-compliant units existed quietly under the radar of zoning inspectors, and chances of citation for failure to obtain required permits were slim to null so long as the property was kept in good condition.  This is no more.

Landlords are now required to present a valid rental license before using Maryland’s landlord/tenant courts to evict a tenant for failure to pay rent or swear that no license is required.  This requirement effectively shifts the burden of compliance... (click here for full article)

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PROBLEM TENANTS: KNOW WHEN TO FOLD’EM (9/12/2012)

Landlords and management companies usually sail through each month with no problems whatsoever with renters.  However, when problems arise, a renter can be the landlord's or management company's worst nightmare.  Trying to go it alone to save money can be a huge mistake.  This is especially so if a court appearance is necessary... (click here for full article)
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MORE CHALLENGES FOR FORECLOSURE PURCHASERS OF MARYLAND RESIDENTIAL RENTAL PROPERTY (9/5/2012)

For an investor or homebuyer looking to purchase a tenant occupied property, a constant issue of concern is whether the tenant will leave in time to coincide with plans to live at the property, re-rent the property, or satisfy potential resale purchasers.  This concern is compounded when the property is purchased at a foreclosure sale, and an August 2012 Maryland Court of Appeals ruling might have just made matters worse.
 
With passing of the Protecting Tenants at Foreclosure Act in 2009 and the Maryland state law equivalent in 2010, federal and state lawmakers decided that when the foreclosure purchaser is entitled to possession, residential tenants must be given at least... (click here for full article)