How to Syndicate an Apartment Deal in Maine

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What is the Maine Rule 506 notice filing?
How do you form the deal LLC in Maine?
What Maine landlord and tenant rules should a sponsor know?
Does Maine have rent control?
What does Maine charge when an apartment building sells?
How does Maine property tax work for an apartment building?
Does Maine tax the deal LLC or its investors?
How DoorRaise fits in
FAQ

To syndicate an apartment deal in Maine, you form the deal LLC (or register an outside LLC with the Maine Secretary of State), raise under Rule 506(b) or 506(c), and file a Form D notice with a $300 fee through NASAA's EFD within 15 days of your first Maine sale; after 15 days DoorRaise's state data lists a $500 late fee. If the building is in Portland, read the city's rent control ordinance before you set a rent growth assumption.

This is the Maine version of our general syndication guide. It covers what changes when the building, the investors or both are in Maine. It is general information, not legal advice.

What is the Maine Rule 506 notice filing?

Maine treats Rule 506 interests as federal covered securities and asks for a notice: a copy of the SEC Form D and the fee, filed through the NASAA Electronic Filing Depository (EFD) for the Maine Office of Securities. DoorRaise's state data, from NASAA's fee schedule, lists the fee as $300, and a $500 late fee if the notice comes more than 15 days after the first sale in the state. EFD shows the exact amount before you pay, and that amount wins. See blue sky notice filings and blue sky fees by state.

How do you form the deal LLC in Maine?

A Maine LLC is formed by filing a Certificate of Formation with the Maine Secretary of State; the published fee is $175. Each year the LLC files an annual report, with an $85 fee, by June 1. An LLC formed elsewhere that will own Maine property registers as a foreign LLC. Confirm fees with the Secretary of State before you file. See forming an LLC for a syndication and keeping the LLC in good standing.

Maine's rules are in Title 14 of the Maine Revised Statutes. A security deposit cannot exceed two months' rent, and the landlord returns it, with an itemized list of deductions, within 30 days after a written lease ends, or 21 days for a tenancy at will (14 M.R.S. 6032 and 6033). For unpaid rent, a landlord gives a 7 day written notice before filing a forcible entry and detainer case (14 M.R.S. 6002). Your property manager should use Maine forms.

Does Maine have rent control?

Not statewide, but Portland adopted a rent control ordinance that limits yearly increases on most units, with registration and exemptions. Read the current ordinance before you write a Portland business plan. See rent control laws for apartment investors.

What does Maine charge when an apartment building sells?

Maine's real estate transfer tax is $2.20 per $500 of value, paid half by the buyer and half by the seller. Put your share in sources and uses.

How does Maine property tax work for an apartment building?

Maine towns assess property at just value, and the state publishes a certified ratio for each town that compares assessments to market. A sale is strong evidence of value. Owners can ask the local assessor for an abatement within the deadline after the tax bill. Underwrite taxes from your purchase price adjusted by the town's ratio and its mill rate. See property tax reassessment in apartment underwriting.

Does Maine tax the deal LLC or its investors?

Maine taxes income earned in the state, and a pass through entity may have to withhold for nonresident owners or file a composite return. Ask your CPA early; the investor side is in state tax returns for nonresident syndication investors.

How DoorRaise fits in

DoorRaise helps sponsors raise equity for apartment buildings from their friends and followers under Rule 506(b) or 506(c), and verifies that every investor is accredited before they sign. Investors fund by wire into the deal's escrow account at Enterprise Bank & Trust. By default DoorRaise files the notice in the property's state; the first investor from another state pays that state's filing fee by card when they sign, later investors from that state pay nothing, and the sponsor never fronts it. Sponsors pay a $1,500 setup fee (non-refundable) and a flat $5,000 a year administration fee; see pricing or how it works.

FAQ

How much is the Maine Rule 506 notice fee?

$300, per NASAA's fee schedule. EFD shows the final amount before you pay.

Is there a Maine late fee?

DoorRaise's data lists a $500 late fee if the notice comes more than 15 days after the first Maine sale.

Does Portland, Maine limit rent increases?

Yes, for most units, under its rent control ordinance.

Who pays the Maine transfer tax?

Buyer and seller each pay half of $2.20 per $500.

Sources

This article is general information as of November 2026, not legal, tax or investment advice. State laws and fees change: confirm with the state agency and your own attorney before you file. DoorRaise is not a law firm, broker-dealer, investment adviser or funding portal.