Legal Question in Real Estate Law in Maryland

Renting your home for more than your mo.mortgage pymt

Is it any kind of law regarding renting your home for a larger amount than your monthly mortgage payment. Say I want to rent my home for $1500 per month, but my mortgage payment is only $1100 per month. Is there a limitation on how much more per month you can charge for rent over your mo. mort. pymt amt.? Say, could I rent it for $1150 or $1200 w/o question. But renting it for a ridiculous amount like $1700, is that legal? It seems to me like an excessive overrage in rental fees would become a business, like the landlord is out for profit. Please advise.


Asked on 6/30/00, 1:39 pm

2 Answers from Attorneys
Daniel Press Chung & Press, P.C.

Re: Renting your home for more than your mo.mortgage pymt

What's wrong with the landlord being out for profit? That's why landlords are landlords. There is no such limit.

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Answered on 9/05/00, 8:37 pm
Brett Weiss Brett Weiss, P.C.

Re: Renting your home for more than your mo.mortgage pymt

It is perfectly legal and proper for a landlord to rent property for more than the mortgage (and tax and upkeep and HOA fees and depreciation and anything else the landlord can come up with).

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Answered on 9/05/00, 9:50 pm


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