Becoming a landlord can be a great investment. Various tax breaks and receiving extra income every month are just some of the great benefits of being a landlord. There are, however, a number of federal, state and local rental licensing laws landlords must adhere to or risk paying fines or having a lawsuit filed against them. In order to avoid such issues, it is vital for landlords to understand their responsibilities.
Maryland’s Changing Rental Licensing Laws
To make matter even more difficult for landlords, these laws and regulations are changing constantly. For example, Montgomery County in Maryland recently passed Bill 19-15
, which makes substantial changes to the current rental licensing laws.
The new bill requires landlords to provide a summary with the lease that explains the details of the lease, such as the terms of the lease, amount of rent, when rent is due and who responsible for the utilities, in plain English. The bill also requires landlords to provide a 90-day notice for any rent increases, as well as offer two-year leases.
Maryland isn’t the only state to make constant changes to the rental licensing laws. The truth is that any state or local government could make changes at any time. No matter where you live, the courts will rule that it is the landlord’s responsibility to keep up with these changes.
Tracking Solutions for Landlords
While keeping up with all these changes can seem nearly impossible, ClickNotices
can help. ClickNotices offers easy-to-use delinquency management solutions that can not only help landlords track changes in the laws and regulations, but also make obtaining late payments and handling evictions simpler.
ClickNotices’ delinquency management solutions maintain strong partnerships with legal professionals who keep track of rental licensing law changes and understand how these changes affect the landlord. These changes are then adjusted in ClickNotices’ tracking system to help landlords stay in compliance with the rules and regulations governing their specific location.
ClickNotices also handles many of the delinquency management processes, such as serving resident notices, administering court document, handling the eviction process and obtaining legal judgments when applicable, for the landlord. The ClickNotices electronic interface and accounting system makes managing your rents and late payments easier than ever.
ClickNotices offers several great benefits, including better control of delinquent rents, reduced legal costs, simplified delinquency management process and customized reports. Learn more about ClickNotices
and how we help landlords better manage their delinquent rents.