I have been renting my apartment since 08/01/2005. Am I entitled to the interest from my security deposit of $650.00. I am still renting this apartment.

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Originally Posted by bosschick

I have been renting my apartment since 08/01/2005. Am I entitled to the interest from my security deposit of $650.00. I am still renting this apartment.

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Depends on the State - what State are you in?

State laws vary on this. In some states landlords are required to place the security deposits in interest bearing accounts and then pay that interest to the tenant. In other states they don't even have to deposit the funds in a bank at all. There are links to state laws at the top of this forum.

Of course this assume you are entitled to get your security back. The security may be used to make repairs or cleanup after you have vacated. Have you moved out yet?

I live in Pennsylvania, and yes I am still living in the apartment.

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Originally Posted by bosschick

I live in Pennsylvania, and yes I am still living in the apartment.

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I would suggest that you read the rules of the site (Ask Me Help Desk - FAQ: Terms of Service, FAQ and How To Use This Site) concerning rating answers before you antagonize the people who are attempting to help you.

Also, we are all volunteers here. It's not unusual for the person asking the question to "still be waiting for an answer" 24 hours later. Your 2-1/2 hour wait on a holiday is not a long time. Scott and I just both happen to be cruising through the board today.

Anyway, and despite my better judgment, here is Pennsylvania law:

"The Landlord Tenant Act requires that interest be paid on security deposits held over two years.

After taking out damages and unpaid rent, a landlord or property owner must send its tenants the list of damages and/or the full or partial security deposit no later than 30 days after the lease ends or when the landlord accepts the tenant's keys to vacate the premises early, whichever occurs first. The law requires landlords to pay twice the amount of the security deposit if they fail to provide consumers with the list of damages along with any refund due.

At the end of the third year the landlord must start giving you the yearly interest that is received from the bank, less a 1 percent fee that the landlord may keep. "

Pennsylvania Tenant Landlord Law Security Deposit Evictions

Comments on this post
bosschick disagrees: I said that I am still renting the apartment.

First, may I call your attention to the guidelines for using the comments feature found here:

https://www.askmehelpdesk.com/feedba...ure-24951.html

Ok, so I missed where you said you were still in the apratment. But that doesn't change that the rest of my answer was accurate and that I tried to help you. And your response is to give me a negative comment? Of all the ungrateful...