How do I calculate the interest rate owed to meon security deposit that has been held for 14 years?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

How do I calculate the interest rate owed to meon security deposit that has been held for 14 years?

I have rented the same place for 14 years. I know the interests rates have changed over time, and would like to know; how do I calculate the interest owed to me from the landlord? My deposit was $1100.

Asked on September 16, 2010 under Real Estate Law, Virginia

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 13 years ago | Contributor

Well you are going to have a real chore on your hands and I would suggest that you obtain help in doing this.  First, whether you are a private house or a multiple dwelling will impact on the landlord's obligations and the amount.  Second, there may be different interest rates depending on the county that you reside in.  So, here is where I would start: contact your state  of Virginia Department of Consumer Affairs.  They generally help with security deposit issues and may be able to help you calculate the amount.  There are also rules regarding the demanding of security deposits and time constraints for that kids of stuff.  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption