ME LEG Rental Property Fees


On Mar. 20, ME LEG passed bill on reducing rental property fees.


  • ME LEG passed bill LD 1490 which establishes provisions to reduce rental housing costs by limiting additional fees at or prior to the commencement of tenancy.
  • Amends ME LEG 14-6022, ME LEG 14-6030, ME LEG 14-6015, Notice of rent increase.
  • Bill Provisions
  • Upon entering a lease, a landlord, landlord's agent or broker may not require a tenant to pay initial amount of money in excess of the total of the rent for the first full month.
  • Unenforceable if landlord does not receive a signed copy of the total price disclosure.
  • A landlord may impose an optional recurring fee only if the landlord provides the tenant with written notice, prior to implementation of fee, that the tenant may opt in.
  • Landlord may not deny or terminate lease or tenancy at will agreement based on the tenant choosing to opt out of those services or property features or cease paying fee.
  • Adds mandatory recurring fees to the notice of rent increase requirement for landlords, requiring them to provide notice to tenants 45 days in advance of increase.
  • Legislative History
  • On Mar. 19, 2024, bill introduced in House; on Mar. 19, 2024, bill passed in House.
  • On Mar. 20, 2024, bill introduced in Senate; on Mar. 20, 2024, bill passed in Senate.
  • Effectiveness
  • Upon becoming law, the bill comes into effect on Jan. 1, 2025.
  • Apr. 2024 ME LEG Bill Approved by Governor
  • On Apr. 3, 2024, ME LEG bill LD 1490 was approved by Governor, enrolled as Ch. 594.

Regulators ME LEG
Entity Types Bank; CNSM; Corp; IB
Reference Ch 594, Bill, LD1490, 4/3/2024; Citation: *ME LEG* 14-6022, 14-6030, 14-6015;
Functions Compliance; Financial; Legal; Operations; Sales Practices
Countries United States of America
Category
State
Products Banking
Regions Am
Rule Type Final
Rule Date 4/4/2024
Effective Date 1/1/2025
Rule Id 205455
Linked to N/A
Reg. Last Update 4/3/2024
Report Section US Consumer

Last substantive update on 04/10/2024