Demystifying the Right of First Refusal: A Guide for Real Estate Transactions
The right of first refusal (ROFR) is a powerful tool used in real estate transactions, granting a specific party the initial chance to purchase a property before it's offered to the general market. This clause can be included in various situations, including: Seller and Existing Tenant: A landlord might offer a tenant the right of first refusal if they decide to sell the property. Co-Owners: Co-owners selling their share of a property might grant the remaining owner(s) the right of first refusal. Estate Planning: An inheritance might be s…
New Maryland Law Makes Renting More Expensive & Evictions Harder (Renters' Rights Act)
The Renters’ Rights and Stabilization Act protects Maryland renters who are experiencing housing instability. This bill establishes the Office of Tenant and Landlord Affairs to provide renters with information about their rights, creates the Maryland Tenants Bill of Rights, increases the eviction filing fee to address the high eviction filing rate across the county, saves renters money by reducing required security deposits and creates new pathways to homeownership by providing tenants the opportunity to purchase their homes. HB 693 will reduc…
Fire Up the Fun (and the Grill)! Your Guide for the 4th of July Festivities in Your Area!
The smell of hot dogs is in the air, and the anticipation of fireworks is crackling! It's almost the Fourth of July, and whether you're a seasoned Maryland resident or a newcomer ready to experience your first Charm City summer celebration, we've got you covered. In this blog, we've compiled a comprehensive guide to parades, fireworks displays, and local events happening across multiple counties, so, grab your lawn chairs, spark up the grill, and get ready for a star-spangled summer celebration! BALTIMORE CITY - INNER HARBOR CELEBRATION Come ce…
What To Ask For When Buying A Tenant Occupied Property
Investing in a tenant-occupied property can be a smart move, offering immediate rental income and potential for appreciation. But before you jump in, how do you know if this property will turn a profit? How do you know if the tenant is paying regularly? This blog will equip you with the essential questions to ask when buying a tenant-occupied property. We'll delve into reviewing the lease agreement, understanding what you’ll be required to continue for the tenant, assessing the quality of the current tenant, and uncovering the property's condi…
5 Truths No One Tells You About Becoming a Landlord
The dream of rental income as a passive income is a tempting siren song for many. Steady stream of cash flowing in, a little nest egg growing with each passing month. But being a landlord isn't quite the sunshine and rainbows some may paint. Here are 5 realities seasoned landlords wish they'd known before diving in: 1. Tenants Make or Break You (Stats Don't Lie): A National Apartment Association study found a whopping 11.6% of renters pay rent late at least once a year. That's a significant chunk of your income potentially up in the air. Fin…
