Interest on Security
Is a tenant entitled to interest on a security deposit refund?
Asked on 8/07/02, 5:30 pm
1 Answer from Attorneys
Lyle Johnson
Bedi and Johnson Attorneys at Law
Re: Interest on Security
My understanding is that the under California law the landlord is not required to pay interest on the security deposit. However, if the landlord places the security deposit in an interest bearing account the interest belongs to the tenant.
Some local rent control ordinances require the payment of interest on the security deposit.
Answered on 8/07/02, 10:35 pm
