Renters' Rights and Stabilization Act of 2024
The bill is expected to significantly affect state laws surrounding landlord-tenant relationships. By limiting the security deposit to one month's rent and extending the wait time for eviction proceedings, the legislation aims to provide tenants with greater security and stability in their housing situations. Furthermore, it seeks to strengthen tenant rights by giving them the right of first refusal to purchase their rental properties, ensuring that tenants have options should their properties go up for sale. The new regulations will likely curtail incidences of unregulated evictions and improve access to legal recourse for tenants facing wrongful actions from their landlords.
Senate Bill 481, known as the Renters’ Rights and Stabilization Act of 2024, aims to enhance tenant protections in Maryland. It introduces various measures designed to improve the housing stability of tenants by making significant amendments to existing landlord-tenant laws. Key provisions of the bill include the prohibition of surcharges against tenants for landlord-tenant cases, an increase in the filing fees for such cases, and the establishment of the Office of Tenants’ Rights within the Department of Housing and Community Development. This office is tasked with developing resources to inform tenants of their rights, assisting in reporting violations, and creating a Maryland Tenants' Bill of Rights that must be included in residential leases.
Despite the intended benefits, the legislation has sparked debate among stakeholders. Critics argue that some provisions may impose undue burdens on landlords, potentially leading to increased rental costs or reduced rental availability. Proponents, however, contend that the enhancements to tenants' rights and protections are necessary to address imbalances in the current housing market and to combat rising eviction rates. The discussions leading to the bill's introduction reflect ongoing tensions between ensuring tenant protections and preserving the interests of landlords.