The Landlord Protection Agency  
Main Menu, Landlord Protection Agency homepage Membership With The Landlord Protection Agency Free Landlord Services Member Services  

Re: DIrty Tenant - Landlord Forum thread 132154

Re: DIrty Tenant by Terry on October 23, 2006 @03:45

                              
If the evidence is 50-50, you win. If the landlord missed one technicality of the rent control law, you win. It is much harder to evict a tenant than non-controlled cites.

Interest on Security Deposits
You are entitled to interest on your security deposit, if you have stayed there at least a year. The posted rate is set by the LA Housing Department. The interest is 5% for November, 1990 through December, 2000, 2% for 2001, 0% for 2002, and beginning 2003, the landlord can either calculate that by (1) the actual interest earned, by his deposit in the bank and giving you the bank statement showing that annual interest earned [hardly ever used by landlords], or (2) the posted rate , which has been 1% for 2003, 0.26% {i.e., ¼ %, not 26%} for 2004, 1.21% in 2005, and 1.74% in 2006. This interest MUST be paid to you at least yearly, OR it is credited against your rent. For the final year of your tenancy, any accrued interest has to be returned to you with the deposit itself.

If you are being evicted for nonpayment of rent, the interest which has accrued but not been paid constitutes a credit against your rent, which makes the eviction notice overstate the amount of rent which is due by that amount, and you could win on that technicality.

[ Reply ] [ Return to forum ]


Check-Out
Log in

Look-up
Associations
Attorneys
Businesses
Rentals Available
Rentals Wanted
Realty Brokers
Landlord Articles
Tips & Advice
Tenant Histories

Other Areas
Q&A Forum
Free Forms
Essential Forms
Landlord Tenant Law
Join Now
Credit Reports
About Us
Site Help



Contact The LPA

© 2000-2023 The Landlord Protection Agency, Inc.

If you enjoy The LPA, Please
like us on Facebook The LPA on Facebook
Follow us on Twitter The LPA on Twitter
+1 us on Google