Commercial property late fee

[Mark Husband-Wood]

Is anyone familiar with late fee laws in Maryland for a commercial property?

Flat fee, percentage, maximum amount, how many months can the late fee continue to be applied, etc.

Thanks in advance!

[Nathan Gesner]

Quote from @Mark Husband-Wood:

Is anyone familiar with late fee laws in Maryland for a commercial property?

Flat fee, percentage, maximum amount, how many months can the late fee continue to be applied, etc.

Thanks in advance!

A quick Google turns up conflicting information. One site says you are limited to 5% while another says 10%. It's important to do your research and know the current laws. https://law.justia.com/codes/m...

Do yourself a favor: buy "Every Landlord's Legal Guide" by NOLO. Written by attorney investors, it's full of practical advice pertaining to management of investment property, has sample forms that can be edited, and - most importantly - they tell you what your primary state laws are and where you can read them. It's updated every year and is the best $40 you'll spend as a Landlord. There is one book for 49 states and a separate book for California.