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Re: interest on security deposits

Posted by kim on January 02, 1997 at 16:31:17:

In Reply to: interest on security deposits posted by leQ on January 02, 1997 at 10:08:27:

: isnt there a law in nyc that requires the security deposits paid by the
: tenant to be held in escrow in a bank, and that upon return, interest
: is added to the amount? and if so, what is that percentage?

: danke

if you live in a rent stabalized building by law the landlord is supposed to set up an interest bearing account on your deposit. I don't know what the rate is . Hope this helps.

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