If I rented an apartment for 6 years and I am entitled to security deposit interest, how much is this and how is it calculated?
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If I rented an apartment for 6 years and I am entitled to security deposit interest, how much is this and how is it calculated?
After 5 years, state code states I am entitled to security deposit interest. Does the landlord get the first 5 years and me the last, or do I get all 6 years worth of interest?
Asked on August 22, 2012 under Real Estate Law, Iowa
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If there is a state statute allowing for your return of your security deposit's interest for the rental that you have after being in it for five (5) plus years then you need to get a copy of the statute and carefully read it. Your answer will lie in the terms of the statute that you have written about. Interest would be caluclated at the rate presumably set by the statute that you have written about.
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