Are you looking to purchase real estate in Howard County for rental purposes? If so, it is essential to be aware of the laws and regulations that apply to landlords and tenants in the area. Although there are no rent control laws at the state level or in Howard County, it is still important to understand your rights and responsibilities as a landlord. It is wise to plan ahead before signing a long-term lease. If you are planning to buy a home, get married, or have to move for some other reason in the near future, it is recommended to ask your landlord for a six-month lease or a month-to-month lease.
If you are expecting a work transfer, it is advisable to request the landlord to add a work transfer clause to the contract that allows you to end the lease early, with due notice. The Office of Consumer Protection's Guide for Landlords and Tenants provides answers to the most frequently asked questions from landlords and tenants about state and landlord laws in Howard County. This guide is an invaluable resource for anyone considering buying real estate in Howard County for rental purposes. Howard County is currently a seller's market, with job opportunities increasing and plenty of attractions and services available.
This means that buying property to rent can be more profitable than ever. However, it is important to remember that the housing market could change in the future, so it is essential to consider all of your options before making any decisions. Compass is a licensed real estate agent under the name “compass real estate” in the District of Columbia and under the name of Compass in Virginia and Maryland, and complies with equal housing opportunity laws. If you need help finding a property or understanding your rights as a landlord or tenant, contact us today.