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

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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 11 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.


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