These Residential Lease Form templates make it so easy for Maine landlords to put together professional standard lease agreements and rental contracts for their tenants. Downloadable, affordable, and cheaper than an attorney.
Q: How much can I charge for a damage deposit?
A: Maine's landlord-tenant laws allow you to ask for a maximum of two months' rent as a security (or damage) deposit. The deposit must be returned to the tenant within 30 days of the date on which the tenancy ends (if there's a written agreement) or within 21 days (if there's no written agreement). However, the security deposit requirements do not apply to units in buildings made up of 5 or fewer units, provided that the landlord lives in one of the units.
Q: Am I entitled to charge a late fee if my tenant doesn't pay the rent on time?
A: Yes, but under Maine laws the rent is not considered late until 15 days have elapsed without it being paid. After that time you can charge a late fee that does not exceed 4% of the amount due for one month.