Hello all, we own and rent a property in the state of Maryland. The tenant has resided there nine months on a month to month agreement. We have rented this property for far below market value. We must increase the rent 25% to get it in line with market value and at a comfortable point. We will provide more than the 30 days notice that I believe is required in Md.
1. Do we send a letter via certified mail, return receipt?
2. Do we send an amendment to the lease and request a signature and copy return?
3. Is a 25% increase allowed in Maryland?What is the name of your state (only U.S. law)?
Thanks for your replies.