Legal Question in Real Estate Law in Maryland

Re: rental payment

Do you have a written lease? Where does it say you have a "grace period"? There has to be something in writing about the late fee, otherwise how can you define "late"? A standard written lease has that and other things like what kind of notice to give and what happens when the rent check is returned b/c of insufficient funds.

Re: rental payment

No late fee can be charged where there is not a provision in the lease for its charging. The date the payment is due may be the date upon which a payment is considered late for purposes of charging interest. The interest rate, accrual methodology (e.g., simple interest, compounded interest, etc.), and other remedies available to the lessor must be unambiguously stated. Generally, payments are due on the 1st with some late payment determination date that is after it. The later date is the date that the payment is considered late but interest may, if so stated in the lease, be accrued from the 1st upon a determination of the payment being late.