Name Security deposit interest rates
Category Housing and property
Last updated
Size 125.32 KB
File Type pdf
Number of pages 2
Document description
This document shows the interest to be paid on the security deposit for each time period. The interest is not compounded; it is calculated for each time period. The landlord must repay the security deposit with interest to the tenant within 15 days after the later of the date the tenancy ends and the date the landlord receives the tenant’s forwarding address in writing. The interest rate is payable at 2% lower than the bank prime rate as of January 1 and July 1 of each year.
Contact the Residential Tenancies Office if you have questions.