Maryland Late Fees clarified : ezLandlordForms

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Maryland Late Fees clarified

L

Linda M

started a topic over 9 years ago

I am writing a fresh lease for an existing tenant. I need to be very clear regarding my wording on late fees. In Maryland, late fees cannot exceed 5% of the monthly rent. Is that 5% for each day or just 5% for the month no matter how many days late?

1 Comment

R

Richard W

said over 9 years ago

In Maryland it is 5% of the rent due. So say the tenant does not pay any it would be the 5% of the total amount due, that is per month not daily. If they pay half of the rent but are still late half it would be 5% of that amount. I hope this helps and clarifies.

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