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Updated over 6 years ago, 04/05/2018
Interest on Security Deposit in Sacramento
I have a tenant in Sacramento, CA requesting interest on his Security Deposit.
He claims the last property management company gave it to him.
My research has provided me with the following...
Paying interest on security deposits
There is no state law that requires payment of interest on security deposits. Rental owners are not required to pay interest on security deposits to their residents unless a local ordinance requires it. Currently there is no local ordinance in the eight-county Sacramento Valley area which requires the payment of interest on security deposits.
Does any know about Sacramento and interest plz ?
It is also not one of our rent control cities, yet...