Should you receive intrest on your security deposit????
2007-06-04 12:26:31 · 6 answers · asked by sondralu 1 in Business & Finance ➔ Renting & Real Estate
I do not give interest. If your county/city requires that you would see it in the lease agreement.
2007-06-04 13:49:07 · answer #1 · answered by Landlord 7 · 0⤊ 0⤋
There is no statewide law in California regarding interest paid on security deposits. However, there are a limited number of municipalities in the state which do have the requirement. Check with your local housing agency.
2007-06-04 19:32:33 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
This is determined by local law, not state law. For the cities of Los Angeles and Santa Monica, the answer is yes. For other municipalities, you will have to check. There is just no state-wide answer.
2007-06-04 19:35:10 · answer #3 · answered by Steven G 1 · 0⤊ 0⤋
A smart landlord has it spelled out that interest does not accrue on the security deposit.
2007-06-04 19:32:08 · answer #4 · answered by justwondering 6 · 0⤊ 0⤋
Generally no, you don't.
However, there are some cities where the answer is yes. Check yours.
2007-06-04 19:36:04 · answer #5 · answered by Anonymous · 0⤊ 0⤋
No
2007-06-04 20:19:39 · answer #6 · answered by Patrick G 4 · 0⤊ 0⤋