Nov 11, 2023 · Law only requires LL place rental security deposits in separate account, it does not mean said funds must earn high interest. Every security deposit interest payment have ever seen or heard of is pennies. This from say $1.5k to over $3k in funds.

Nov 2, 2011 · Such an interest-bearing account amounts to mere pennies. Within 30 days of quit in most jurisdictions (google "NJ landlord tenant laws security deposit" to verify) a LL is required to return a tenant's security deposit less documented damages along with receipts.

Sep 29, 2009 · If they are, you need to know what percentage they have to give you, and whether it is compounding or simple interest. I searched for a calculator and plugged in some random numbers, just to get an idea. If they had to pay 3% compounding interest over 40 years on $700, then they would owe around $2900, less any damages.

Sep 21, 2013 · Originally Posted by bentlebee I think 90% of all private LL don't have a clue about the law... A real estate lawyer doesn't know EVERYTHING about law.

Sep 19, 2013 · Does the security deposit need to be deposited in a separate account for each property to accumulate interest and does the LL or renter get the Security Deposit Interest (tenant, renters, legal, landlord) - Renting -Apartments, houses, lease, tenant, landlord, agreements, termination - City-Data Forum

May 18, 2008 · Security Deposit Issue: Landlord wants a security deposit for the new lease term before returning old one, Renting, 16 replies Damage deposit vs. Security deposit ; Distinction?, Renting, 7 replies Security Deposit Interest, Renting, 16 replies Las Vegas Security Deposit - Returned with Interest?, Renting, 2 replies

Nov 17, 2009 · Or is it simply the bank's way of tracking the interest accumulated on your security deposit vs. your neighbors'? The landlord has one bank account that everyone's deposits are put into, and the bank uses SSNs to keep track of each 'subdivision' of deposits and how much interest each has earned.

Aug 23, 2012 · is saying that a landlord must pay you back your security deposit plus interest at an annual rate of 5%. Is this the correct rate of interest? The latest copy of my lease that was signed in 2011 includes a page titled Residential Landlord and Tenant Oridinance "Rate of Interest on Security Deposits" that states the 2011 rate was .073% which is ...

Nov 10, 2011 · And I know of one that is going to be losing a 500K deposit shortly, along with all my tenants who be moving their accounts too as we do direct deposit. 11-11-2011, 01:11 AM Enkiktd

May 22, 2008 · Originally Posted by movingtohouston Did you provide receipts for the work that was done and submit that with the balance of deposit within 21 days of Security deposit interest in OC - Renting -Apartments, houses, lease, tenant, landlord, agreements, termination - Page 2 - City-Data Forum