Deposit Interest

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Deposit Interest (by Judy [VA]) Jul 9, 2011 10:42 AM

Deposit Interest (by Landlord Whisperer [VA]) Jul 9, 2011 10:45 AM

Deposit Interest (by Judy [VA]) Posted on: Jul 9, 2011 10:42 AM
Message:

State Specific Question About: VIRGINIA (VA)

I read in the VA tenant landlord act that landlords must accrue interest no more than 4 points below the FRB discount rate. Can someone confirm this? I have never done this, and I was looking at using a property management company where they had written that they keep the interest. To me that sounds as if that is not a requirement or that you at least have to disclose in your rental agreement that you will keep the interest. Any information on this topic will help.

Related, I was also curious as to whether it is a requirement to open a separate account for the security deposit.

Thanks, --71.114.xx.x

Deposit Interest (by Landlord Whisperer [VA]) Posted on: Jul 9, 2011 10:45 AM
Message:

VRLTA leases ONLY * and Yes and there is no interest paid because the discount rate is low.

dhcd.virginia.gov/HomelessnesstoHomeownership/PDFs/Landlord_Tenant_Handbook.pdf --184.2.xx.xxx

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Deposit Interest

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