This office lease guaranty lists the conditions of the principal's obligations held in this bond. If all obligations of this guaranty are performed and indemnifies and holds harmless the obligee from any loss, costs, and expenses incurred by the obligee as a result of any failure or default by the principal in its execution of the agreement, then this obligation shall be void; otherwise it will remain in full force and effect.
Maine Lease Deposit Guarantee Bond
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Multi-State
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US-OL4A025
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FAQ
A landlord must give you adequate notice before you are evicted or your rent is increased. The landlord cannot abuse your security deposits. Tenants always have a right to a court hearing before the landlord can evict them. Unfair rental contracts can be in violation of the Maine Unfair Trade Practices Act.
Maine law says the security deposit can't be more than two times the monthly rent.
Normal wear and tear. "Normal wear and tear" means the deterioration that occurs, based upon the use for which the rental unit is intended, without negligence, carelessness, accident or abuse of the premises or equipment or chattels by the tenant or members of the tenant's household or their invitees or guests.
Landlords in Maine can collect the first month's rent in advance. However, landlords can only collect an additional advance payment up to the security deposit limit, whether called a ?security deposit? or ?last month's rent.? ?Last month's rent? is considered a security deposit by the law.
Security Deposit Returns in Maine Landlords must return a security deposit by mail with a written statement of deductions to the tenant's last known address within 21 or 30 days depending on the lease term.
If your rental unit is damaged for any reason, including due incidents of domestic violence, stalking, or sexual assault, the landlord can keep your security deposit to cover the damages. The landlord cannot keep your security deposit as a penalty for breaking the lease.
Either the landlord or the tenant can choose to end the lease if the other party has "materially breached" the lease. This requires a written 7-day notice, served in-hand, or, after 3 good faith efforts, mailed by first class mail, with a copy left at the other party's home.
