Property Management
Montgomery County, Maryland's rent stabilization ordinance limits annual rent increases to:
A5% or the CPI increase, whichever is less
BThe local CPI increase (Consumer Price Index)✓ Correct
C2% flat per year
DAny amount if 90 days notice is given
Explanation
Montgomery County's rent stabilization limits increases to the CPI increase, helping to keep rents affordable for existing tenants.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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