Does My Security Deposit Collect Interest?

The DCHC dictates that the interest rate on the deposit be equal to the passbook interest rate. The prevailing rate on either January 1 or July 1 applies for all or part of the six months following those dates in which you rent the apartment.

The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.

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