New Maryland Bill HB693

[Stephen Schaeberle]

Agent just alerted me to the new Maryland HB693 bill that went into effect Oct. 1 2024 limiting security deposits to 1 months rent. Prior to Oct 1, we just signed an ew lease with an existing tenant that maintained a security deposit of more than 1 months rent but less than 2 month rent which was the previous limit. Anyone dealing with this new bill conflicting with existing lease? Limited info online.