Property Management (alternative)
A Maryland property manager who deposits security deposits into an interest-bearing account in a jurisdiction that requires it must pay interest to:
AOnly the broker
BThe tenant, per Maryland's security deposit law (interest accrues for the tenant's benefit)✓ Correct
CMREC's guaranty fund
DThe property owner
Explanation
Maryland security deposit law requires interest to be paid to the tenant on security deposits held, at a rate specified by state law.
Related Maryland Property Management (alternative) Questions
- When a Maryland commercial tenant holds over after lease expiration without a new agreement, the tenancy typically converts to:
- Under Maryland's Condominium Act, a condominium association has the power to:
- A Maryland property manager who collects rents must hold those funds in:
- Under Maryland law, a landlord who willfully fails to return a security deposit or provide an itemized statement may be liable for:
- Under Maryland law, a tenant who is constructively evicted may:
- A Maryland property manager's primary obligation when a tenant reports a broken heating system in winter is to:
- Under Maryland law, a tenant may terminate a lease without penalty if:
- When a Maryland tenant fails to pay rent, the landlord's first step in the eviction process is to file a:
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