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How much interest on security deposit for 2014 landlord must pay.?

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  • How much interest on security deposit for 2014 landlord must pay.?


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Answer #1 | 07/01 2015 21:20
None in most states. I believe some states require that but you failed to provide what state you are referring to.
Answer #2 | 07/01 2015 22:49
Very few states require that a LL refund interest on security deposits to tenants. You'll have to google your state's laws & read them for yourself to find the answer to your question.
Answer #3 | 07/01 2015 20:49
None.
Answer #4 | 08/01 2015 04:24
In states that require it, the rate is specified and often tied to the "bank's saving account rate". Some states also require that the tenant request it in writing each year, if they want it, or that it be specifically included in a written lease. In MA, for instance, the tenant must receive a written notice stating where their deposit is being kept, what account number, what the interest rate is, and how much they will get annually. Failure to provide such notice means the landlord automatically forfeits the right to hold the security deposit at that point. MGL Ch. 186 s. 15B.
Answer #5 | 07/01 2015 14:49
Very few states require that a LL refund interest on security deposits to tenants. You'll have to google your state's laws & read them for yourself to find the answer to your question.
Answer #6 | 07/01 2015 12:49
None.
Answer #7 | 07/01 2015 13:20
None in most states. I believe some states require that but you failed to provide what state you are referring to.
Answer #8 | 07/01 2015 20:24
In states that require it, the rate is specified and often tied to the "bank's saving account rate". Some states also require that the tenant request it in writing each year, if they want it, or that it be specifically included in a written lease. In MA, for instance, the tenant must receive a written notice stating where their deposit is being kept, what account number, what the interest rate is, and how much they will get annually. Failure to provide such notice means the landlord automatically forfeits the right to hold the security deposit at that point. MGL Ch. 186 s. 15B.

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