Bill To Remove Limit On Condo Rentals In Hardship Cases Fails in Maryland General Assembly

The Maryland General Assembly failed to take action on a bill that would require condominiums to remove limits on the number or percentage of units that can be rented, if the unit owner demonstrates “financial hardship” and meets certain other requirements.  House Bill 1039 proposed to establish new Section 11-111.4 in the Maryland Condominium Act, and provide that unit owners who meet one of the bill’s six definitions of financial hardship may request a waiver from any rental limitations applicable to the community.  The unit must be the owner’s primary residence, and the appraised value of the unit must be less than 90% of what is owed.