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?

Get Legal Help Today

 Secured with SHA-256 Encryption

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 8 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. 


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 with SHA-256 Encryption