Glossary Term
Security deposit interest is money some states and cities require landlords to pay tenants on the deposit they hold. Whether interest is owed, the rate, and how often it is paid all depend on your state or local law. Many states require no interest at all, while others set specific rules for accounts and annual payments.
In short
Security deposit interest is money some states and cities require landlords to pay tenants on the deposit they hold. Whether interest is owed, the rate, and how often it is paid all depend on your state or local law. Many states require no interest at all, while others set specific rules for accounts and annual payments.
If your state requires it, deposit interest is money you are owed, so knowing the rule helps you claim payments you might otherwise never see.
Something else? Contact our team
No. Only some states and cities require it, and many require none at all. Check your state and local law to see whether interest applies to you.
Where required, it may be paid annually, credited toward rent, or included when the deposit is returned. The exact method depends on your local law.
First confirm your jurisdiction requires it, then request the interest in writing and keep records of your deposit amount and dates. Confirm it is included when your deposit is returned.
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