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Forum / Other / Maryland Late Fees clarified

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?

Linda M, MD on Sunday, May 31, 2015

RE: Maryland Late Fees clarified

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.

Posted by Richard W, PA on Thursday, June 11, 2015

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