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Does a landlord have to pay interest on a security deposit?

April 26, 2017deposit landlord pay security

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Does a landlord have to pay interest on a security deposit?

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When a security deposit is refunded to a tenant, a landlord shall also pay interest on the security deposit for the entire period the landlord has had the security deposit. The Rate of Interest (84 KB) is set by the Security Deposit Interest Regulations. You may use the Security Deposit Interest Rate Calculator to assist in determining interest on your security deposit.