How to know more about security deposits than most Maryland landlords

Maryland law has strong tenant protections, while also giving rights to the owner. As a landlord or tenant, knowing the law will reduce conflict and worry. The law sets down the rights and responsibilities of all parties. Following the rules makes everything easier. When people are treated fairly, and there are rules that set the ground rules of what is fair, there will be less misunderstanding and hard feelings. If you don’t know the rules, it is easy to break them. Breaking these simple rules can be costly.

This excerpt from rentlaw.com should show you why visiting their site is a good idea: “The total amount of the security deposit may not be more than two month’s rent or $50; whichever is greater. If the tenant is charged more, s/he may recover from the landlord up to three times the excess amount and reasonable attorney’s fees. The tenant may demand refund of this excess at anytime while s/he lives in the rental property or within 2 years after s/he moves away.” Also keep in mind that “Any rent that is paid in advance is considered part of the security deposit and is subject to all the restrictions”.

The Washington Post also explains: “After the day your tenancy ends, your landlord has 45 days to return your deposit (plus interest), minus any costs incurred to repair damages.”

The Maryland State Law Library has details on the law written in plain language. It covers the security deposit topic, and many other topics of landlord – tenant law.

This information is not legal advice. For application of the law to your individual circumstances, you should consult an attorney. The information quoted here can and should also be verified by visiting Maryland State Law Library Sources of Maryland Law.

If you liked this post, Tweet it to your followers.