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Ohio Real Estate Q&A Discussion Forum
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Updated about 5 years ago on . Most recent reply

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Jill F.
  • Investor
  • Akron, OH
4,234
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2,507
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Last Month's Rent in Ohio in addition to security deposit

Jill F.
  • Investor
  • Akron, OH
Posted
Hi fellow Ohio landlords, The law in ohio requires that landlords pay (5% per annum) interest on security deposits over one month's rent that are held longer than 6 months. 

http://codes.ohio.gov/orc/5321...

Will the courts view the collection of the last month's rent as an additional security deposit that requires the payment of interest? What about funds for utility deposits for water/sewer/trash? If I collect last month's rent and then a tenant becomes delinquent in payments, must the last month's rent be used before an eviction can be filed?
Thanks for any help. -J

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