Re: Security Deposit and Escrow - Landlord Forum thread

Re: Security Deposit and Escrow by Anonymous on November 4, 2009 @23:53

First, the LL didn't have to pay interest on your deposit for the 1st two years you lived there. Interest doesn't start to accrue until the 25th month. Next, you were to have been paid interest at the end of the third and each subsequent year. (paid yearly) Why haven't you asked for this money each year for all of these years? Lastly, the LL is allowed to deduct 1% for an administrative fee from this amount. Since interest rates are only 1/4 of 1%, and he is allowed to deduct 1%, you are losing money each year.

But you were to have your deposit back within 30 days per your state's law.

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