Maryland SB589 regulates collection agencies and property managers by requiring licenses for collection agencies and exempting certain property.

Maryland SB589 amends the Business Regulation code to redefine the scope of collection agencies and property managers. It requires a license for any person doing business as a collection agency in the state, except for specific exemptions. Property managers collecting rent, utilities, or fees from residential tenants on behalf of a property owner are exempt if the collection is limited to the lease term or holdover period and debt collection is not their primary business activity. The changes take effect October 1, 2026.

Maryland SB589 regulates collection agencies and property managers by requiring licenses for collection agencies and exempting certain property.

Maryland SB589 amends the Business Regulation code to redefine the scope of collection agencies and property managers. It requires a license for any person doing business as a collection agency in the state, except for specific exemptions. Property managers collecting rent, utilities, or fees from residential tenants on behalf of a property owner are exempt if the collection is limited to the lease term or holdover period and debt collection is not their primary business activity. The changes take effect October 1, 2026.