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    AmyJones

    My Roommates And I Paid A $2100 Security Deposit 6 Years Ago. We Only Got $2066.22 Back After $105 Was Deducted For Cleaning (that Was In Our Lease). They Showed $71.22 In Interest Earned. Is This Correct?

    Landlords are required by law to deposit your security deposit in an account that earns interest at passbook value for the year. It just seems that with compounding interest, it should be a lot more than this. Also, I asked them for a year by year breakdown of interest earned and the interest rate, but theywould only provide me with one line that siad "interest." Is this legal?

    asked 1 year ago

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    Boris

    I don't know what the law says they should pay but your return was about 1/2 of 1%. Most traditional savings accounts pay at least 1-2% interest, tell the landlord to cough up at least twice that much.

    answered 1 year ago   

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      CAMERYN

      I've never gotten interest back on a security deposit, so you're already ahead of the game.

      If you know what bank held the money, they could tell you more about the interest rate, maybe.

      answered 1 year ago   

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