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Updated almost 2 years ago on . Most recent reply
Using CD's For Security Deposit Safe? (Certificate of Deposit)
Has anyone used a certificate of deposit to hold a tenant lease security deposit? Upsides? Downsides? I saw it on a state government website for holding security deposits and never heard of it.
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Nathan Gesner
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Quote from @Pierre E.:
Has anyone used a certificate of deposit to hold a tenant lease security deposit? Upsides? Downsides? I saw it on a state government website for holding security deposits and never heard of it.
Check your state law. Some states do not allow you to gain any interest on a Tenant deposit. Some require you to collect interest and then pay that interest to the Tenant.
- Nathan Gesner
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