 Security Deposit Interest (by Doreen [MD]) Mar 18, 2015 9:06 AM
 Security Deposit Interest (by opm [OR]) Mar 18, 2015 10:39 AM
Security Deposit Interest (by Vee [OH]) Mar 18, 2015 1:58 PM
Security Deposit Interest (by Doreen [MD]) Mar 18, 2015 2:03 PM
Security Deposit Interest (by Laura [MD]) Mar 18, 2015 7:10 PM
Security Deposit Interest (by Doreen [MD]) Posted on: Mar 18, 2015 9:06 AM
Message:
State Specific Question About: MARYLAND (MD)
What is the suggested interest on security deposits that have to be returned to the tenants when they move out? --73.213.xxx.xxx |
Security Deposit Interest (by opm [OR]) Posted on: Mar 18, 2015 10:39 AM
Message:
Good day Doreen... Well the MD LL/tenant statutes would cover the %... should be simple to look up --207.55.xxx.xxx |
Security Deposit Interest (by Vee [OH]) Posted on: Mar 18, 2015 1:58 PM
Message:
In my area there is a interest paid only on the amount above one month rent value but I have found with smoking or any other damages I have not yet paid any interest.
Print your local tenant laws and place into a 3ring binder - flip over and put the state tenant laws there to be your business bible, you will need this often. --75.94.xxx.xxx |
Security Deposit Interest (by Doreen [MD]) Posted on: Mar 18, 2015 2:03 PM
Message:
here is the answer:
INTEREST ON THE SECURITY DEPOSIT After the landlord receives a security deposit, they must deposit it in a Maryland bank within 30 days. This deposit must be in a separate interest-bearing account that contains only security deposit money. If the deposit was $50 or more, simple interest of the current rate per year will accrue to the tenant at six-month intervals from the time the tenant paid the deposit.
Thanks to those that responded --73.213.xxx.xxx |
Security Deposit Interest (by Laura [MD]) Posted on: Mar 18, 2015 7:10 PM
Message:
FYI...at least in MD you pay the interest rate in effect for the year. In MD the interest rate was just lowered. --173.66.x.xxx |
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