Ohio Security Deposit Laws - Interest on Excess Deposit?

[Don Young]

Hi BP,

I am an aspiring real estate investor who currently rents. I recently moved out of a house in Cuyahoga Falls, Ohio that a friend and I rented for 2 years. 

When we moved in, we had to give a security deposit of $2000 (we were told $1500 when we viewed the house and this changed when we went to sign papers). Our rent was $1050. Our move-out date was July 3rd this year. 

I called my (former) landlord today to ask him if we needed to pick up the security deposit from him or if he would mail it. He said he needed to check his records and that he would mail it and asked me to text him my new address. When I texted him my new address, I also mentioned that we were expecting $2000 back for the security deposit and that if his records said anything different to please call me before sending the check to make sure we were on the same page. 

I was a bit concerned that his response to that text was that he thought we didn't give him a security deposit, but he was going to check his records. We have had a good relationship with the landlord despite him not having been the most responsive guy ever, but I get that, especially being a member of this community. I don't see any reason to panic unless he says that he has no record of our (big) deposit, but I did some research online to prepare for the worst. 

I found that he has 30 days to pay, so he has plenty of time. But I also found that according to Ohio Revised Code 5321.16 Procedures for Security Deposits, he actually owes us interest on a portion of the deposit that he was supposed to pay back to us yearly which amounts to almost $100 if I am understanding correctly. The code says "Any security deposit in excess of fifty dollars or one month's periodic rent, whichever is greater, shall bear interest on the excess at the rate of five per cent per annum if the tenant remains in possession of the premises for six months or more, and shall be computed and paid annually by the landlord to the tenant."

1 - Do I have this right? Does he actually owe us more than the deposit? Are there any of you BP folks who have paid this interest out before?

2 - Should we expect a landlord with 10+ houses know this law and pay out the interest with the deposit automatically?

3 - I'd feel a bit unreasonable asking him to include the interest, but more than a month is quite excessive and it would honestly make up for a couple of things we probably shouldn't have had to cover. As a landlord, would you feel any ill will toward a tenant if they asked you to pay out this interest?

4 - If we do ask him for it, I'm thinking I'd rather do so after he has assessed whether or not to deduct for anything and sends us the check. I really don't think he has any reason to deduct anything, but I am concerned he might become more critical and deduct off more than the interest for very minor things. Is there any problem with taking this approach?