
Organizations and Services
 | If your tenants are not paying rent on time, consider using the
services of
Rent Court Agents
to file rent
notices for you. |
 | Need repair services?
Property Repair Services handles small
jobs and total renovations, specializing in serving landlords and rental
properties. |
 | Mediation Services
help people resolves
disputes at a lower cost and faster than the court system. |
Information of value to Real Estate Investors
 | Read the requirements for developers converting rental apartments into
condominiums in Baltimore City. Read about
Tenants' Rights in Condo
Conversions. |
 | Wet Settlement
Procedure Act
-- There is evidence of a growing trend among mortgage lenders to delay
funding of purchase money mortgages beyond the loan closing. MAR members are
reminded that Maryland law requires lenders to disburse the proceeds of
purchase money loans on or before the closing date in accordance with the loan
documents, to the agent responsible for settlement. This is the basis of a
"wet settlement." The practice of requiring a borrower to sign closing
documents and actually delay funding the loan is not permitted. The Annotated
Code of Maryland, Real Property Article §7-109(b) specifically states:
"In any consumer loan transaction in which the loan is secured by a
purchase money mortgage or deed of trust on real property located in this
State, on or before the day of settlement, the lender shall disburse the loan
proceeds in accordance with the loan documents to the agent responsible for
settlement" Loan proceeds must be disbursed in the form of cash,
wired funds, certified check, teller’s check, cashier’s check or a check
issued by a political subdivision or on behalf of a governmental entity (refer
to the law for permitted forms). Any lender failing to comply with the
disbursement requirement under the statute may not charge interest on the loan
for the first 30 days after the settlement date. |
 | Property Tax Rate in
Baltimore City to be reduced 10 cents, or 4% over the next 5 years. |
 | SECURITY DEPOSIT INTEREST changes to 3% beginning October 1, 2004.
House Bill 723 |
 | New Law, HB1245 singed into law May 26, 2004 affects
Law suits regarding lead paint and
the filing of rent notices. See the
Court Notice Form that takes
effect October 1, 2004. An
explanation of the law. |
 | Rent Court Procedures in Baltimore and
Maryland explained. |
 | Rent Court Fee Increased as of June 1,
2004 |
 | Policy in Baltimore City
about Multi Family Dwelling License Renewal and Annual Inspection of
Apartments. |
 | Maryland Lead Paint Laws Explained |
 | October 1, 2007:
Ground Rent Owners Must Register with
State to Protect Your Interests. |
 | Property Taxes in Baltimore explained. |
 | Maryland Ground Rents explained |
 | Article from the CITY PAPER regarding
Ground Rents |
 | New Ground Rent Laws take affect in
2003 |
 |
Ground Rent
Redemption Rates |
 | Summary of Baltimore City Zoning Code |
 | Baltimore City Developer's
Guidebook |
 | List of Zoning Classifications in
Baltimore City |
 |
Baltimore City
Housing Code last updated March 26, 2007 |
 | Landlords must provide tenant with
notice of the actual landlord's name, address, and phone number |
News for Real Estate Investors
 | Lead Paint in
Rental Properties – 100% Rule Effective February 24, 2006 -- By
February 24, 2006, regardless of whether there has ever been a change in
occupancy in an Affected Property, all Affected Properties must be certified
in compliance with a lead risk reduction or lead free standard. Failure to
comply with this law may result in a fine of $250 per day. Property owners who
will not meet the Feb. 24 deadline may contact MDE and elect to enter into a
settlement agreement, which does not waive penalties but offers other
benefits. Those interested in signing such an agreement may submit a Property
Owner Compliance Form that can be found on MDE’s website at:
http://www.mde.state.md.us/lead under “Related Topics. In addition to
having conducted lead hazard risk reduction treatments, pre-1950 rental
property owners must annually register their unit(s) with MDE, perform risk
reduction work each time there is a change in tenants and provide tenants with
information on the lead status of their unit. For more information on
Maryland’s Lead Poisoning Prevention Program or the Feb. 24 deadline call the
Lead Poisoning Prevention Program at (410) 537-3942. |
 | Tax Rules for
Depreciation of Leasehold Improvements and Capital Improvements to
Commercial, or Non-Residential Property. |
 | Factoid: There are 88,600 registered multi-family dwelling units and
7,900 registered rooming units in Baltimore City. The City collects over
$2.5 million in multi-family registration fees. |

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