Updated over 9 years ago on . Most recent reply
Options for Maine Late Rent
With not being able to charge a late fee in Maine until 15 days past due + limit of 4%...can I structure the lease amount in the following way: (Example)
Total monthly lease amount of $1,000 due the 1st of the month
10% ($100) discount if rent is received on or before the 5th of the month -- so $900
If not received by the 5th the rent is $1000 from the 6 - 15th after the 15th the 4% late fee kicks in.
I can't find anything in the regulations about a rent with timely payment discount so I assume I can do this?
Appreciate your help