Managing Your Property
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 2 years ago,
Security deposit refunds
Hello,
Do you charge an administrative fee when drawing up an itemized list for the security deposit refund? if so, how much? does it vary by state?
this is from google? property owners operating in the state of Pennsylvania who collect the security deposit of more than $100, and place it in an interest-bearing escrow account, must pay the interest earned to the resident each year. Property owners may collect 1% of the interest as an administration fee.
what if you didn't put it in an escrow account? how do you know how much interest to apply?