34 years in an apartment

[ajs09876]

What is the name of your state? MN

A friend of mine's aunt has lived in the same apartment for 34 years. When she first moved in she gave a security deposit. I know you are supposed to get 4 % interest on it in Minnesota, but that only goes back to 1992. Does anyone know if this would apply to this lady? If not, is there any law from 34 years ago that would give her interest on this money? And also, is there anything that they could possibly deduct from this lady's security deposit? She has no unpaid rent, no late fees and has not damaged the apartment outside of normal wear and tear (after 34 years- what wouldn't be normal wear and tear outside of a gaping hole in the wall?) Thanks for your help in advance

[BL]

She could always inquire at the local Attorney General's office , or try emailing a few local Real Estate or Landlord tenant attorneys for a response to the question of SD percentage she may be due , as a courtesy .

They may have her call briefly to give an answer .

[FarmerJ]

Interest rate Time Frame

5 percent 8-1-73 to 9-30-84

5.5 percent 10-1-84 to 4-30-92

4 percent 5-1-92 to 3-21-96

3 percent 3-22-96 to 7-31-03

1 percent 8-1-03 to present
[url]http://www.ag.state.mn.us/consumer/housing/lt/LT_1.asp#4[/url] From our state govt web page links after entering TENANT into search tab Perhaps her banker can help using a interest calculator program with the 5 different rates listed , then she will know exactly how much she should expect. Since it sounds like she might be moving soon she should have someone use throw away cameras and take pics of the entire unit to help show its condition. After SO long in one rental hopefully the LL will see how little she cost them over the years and just refund her entire deposit with interest. ANY communications she has with the LL about this should be kept in writting sent via certified mail.

[ajs09876]

Thanks for all your help.

My friends aunt will be moving tomorrow and the landlord told her that she can expect her entire 78.00 security deposit back! The interest is too minimal for her to bother with. Thanks again!

ajs09876

[xylene]

with over 34 years, even assuming a flat 3% (much less interest than in reality) she is owed well over $200 dollars.

She should remind the landlord of the value of interest (and of their time) and offer to settle for $200.

[ajs09876]

Thanks for your suggestion. She keeps saying she's too old for all this bargaining. She's just happy that they won't make her replace the carpet like they told her they were going to, and happy that they let her out of her lease w/a 30 day notice instead of making her wait until May. She got into the assisted living apartments by her neice finally. I think she's just happy with the 78.00 and to be living in a better area/apartment. Thanks again all!

ajs09876

[xylene]

Originally Posted by ajs09876

Thanks for your suggestion. She keeps saying she's too old for all this bargaining. She's just happy that they won't make her replace the carpet like they told her they were going to, and happy that they let her out of her lease w/a 30 day notice instead of making her wait until May. She got into the assisted living apartments by her neice finally. I think she's just happy with the 78.00 and to be living in a better area/apartment. Thanks again all!

ajs09876

Well then, she seems to have already gotten a fair concession on the rent.

As to the carpet, if they had charged her full replacement costs for 34 carpet... she shopuld have sued them. carpet is FULLY depreciated in 7 to 10 years. NO MATTER WHAT SOME LANDLORD APOLOGISTS TRY TO CLAIMS.

[ncpropmgr]

This is the reason we are called slumlords...Give the lady the $$$ she is owed and THANK her for all the money she gave to the community.

[FarmerJ]

AJ glad to hear that she will be satisfied with it BUT do know If they still dont follow the law [url]http://www.ag.state.mn.us/consumer/housing/lt/LT_3.asp#20[/url] At the end of the tenancy, a landlord must return a tenant’s security deposit plus interest, (130) or give the tenant a written explanation as to why the deposit (or any part of the deposit) will not be returned. The landlord must do this within 21 days after the day the tenancy ends, given that the tenant has given the landlord a forwarding address. If a tenant has to leave because the building is condemned, the landlord must return the deposit within five days after the tenant leaves, and after receipt of the tenant’s new address or delivery instructions (unless the condemnation was due to the tenant’s willful, malicious or irresponsible conduct). (131) If the landlord does not return the deposit or return an explanation in the time allowed, the landlord must pay the tenant a penalty equal to the amount of the deposit and interest and also pay the tenant the amount of the deposit and interest wrongfully withheld. (132) Minnesota law allows a landlord to withhold from a security deposit only the amount necessary for unpaid rent (133), damages to the rental unit beyond ordinary wear and tear (134), or other money the tenant owes to the landlord under an agreement (e.g. water bills). (135)

When a landlord’s interest in the property ends (for example, because of death, foreclosure or contract for deed cancellation), the security deposit must be transferred to either the new owner or the tenant. This must be done within 60 days after the current landlord’s interest in the property ends or when the new landlord is required to return the security deposit under the rules discussed earlier, whichever is the earlier time. (136)

If a landlord does not return or transfer the deposit, the court may penalize the landlord $200 for each deposit not returned or transferred. (137)

Interest

Interest begins on the first day of the month following the full payment of the security deposit. Interest runs to the last day of the month in which the landlord returns the deposit. When a tenant has sued to recover a withheld deposit, interest would run to the day the judgment is entered in favor of the tenant. (138)

Taking the Matter to Court

If a tenant does not get the deposit back, or is dissatisfied with the landlord’s explanation for keeping part or all of the deposit, the tenant can take the matter to court (this is usually the conciliation court in the county where the rental property is located). (139) There, it is up to the landlord to justify his or her actions. The Attorney General’s Office has prepared a brochure entitled Conciliation Court: a User’s Guide to Small Claims Court, which offers useful tips on how to file a claim and proceed in conciliation court.

If the judge decides the landlord acted in “bad faith,” the tenant can be awarded up to $200 in punitive damages. If a landlord has failed to provide a written explanation, the landlord must return the withheld deposit within two weeks after the tenant has filed a complaint in court, or the court will presume the landlord is acting in “bad faith.” (140)

The law generally forbids tenants to use their security deposits to pay the rent. Those tenants who do may be taken to court and may have to pay the landlord the amount of the rent withheld plus a penalty. However, before the landlord can take a tenant to court, the landlord must give the tenant a written demand for the rent and a notice that it is illegal to use the security deposit for the last rent payment. (141)
I know you said she is old and happy to be leaving the old hood, BUT if the LL still doesnt deal with this encourage her to take action , im positive her banker would help her figure out the exact amount of interest due if they were given the time tables from above.