Apartment Specialist in Baltimore, Maryland
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Organizations and Services

bulletProperty Owners Association of Greater Baltimore, Inc. is the oldest and most respected trade group representing rental property owners in Baltimore.
bullet Information on Property Owners Association of Greater Baltimore Inc.
bullet Application to Join Property Owner's Assoctiation of Greater Baltimore Inc.
bullet Sign up to attend a seminar.
bulletIf your tenants are not paying rent on time, consider using the services of Rent Court Agents to file rent notices for you. 
bulletNeed repair services?  Property Repair Services handles small jobs and total renovations, specializing in serving landlords and rental properties.
bulletMediation Services help people resolves disputes at a lower cost and faster than the court system.

Information of value to Real Estate Investors

bulletRead the requirements for developers converting rental apartments into condominiums in Baltimore City.  Read about Tenants' Rights in Condo Conversions.
bulletWet 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.
bulletProperty Tax Rate in Baltimore City to be reduced 10 cents, or 4% over the next 5 years. 
bulletSECURITY DEPOSIT INTEREST changes to 3% beginning October 1, 2004.  House Bill 723
bulletNew 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.
bulletRent Court Procedures in Baltimore and Maryland explained.
bulletRent Court Fee Increased as of June 1, 2004
bulletPolicy in Baltimore City about Multi Family Dwelling License Renewal and Annual Inspection of Apartments.
bulletMaryland Lead Paint Laws Explained
bulletOctober 1, 2007:  Ground Rent Owners Must Register with State to Protect Your Interests.
bulletProperty Taxes in Baltimore explained.
bulletMaryland Ground Rents explained
bulletArticle from the CITY PAPER regarding Ground Rents
bulletNew Ground Rent Laws take affect in 2003
bullet Ground Rent Redemption Rates
bulletSummary of Baltimore City Zoning Code
bulletBaltimore City Developer's Guidebook
bulletList of Zoning Classifications in Baltimore City
bullet Baltimore City Housing Code last updated March 26, 2007
bulletLandlords must provide tenant with notice of the actual landlord's name, address, and phone number

News for Real Estate Investors

bulletLead 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.
bulletTax Rules for Depreciation of Leasehold Improvements and Capital Improvements to Commercial, or Non-Residential Property.
bulletFactoid:  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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Copyright © 2006 Ben Frederick Realty, Inc
Last modified: 08/04/06
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