Late rent fee charged monthly or daily
I live in MD and I currently have a lease that mentions the following about late fees: "5% of the monthly rent for every day the rent is late after the 5th day rent is due". I bough the contract from eForms.com. My question is, can I charge 5% for everyday rent is not paid? Or is it only 5% of the rent no matter if they are late 1 or 20 days? I appreciate everyones guidance.