Baltimore City, Maryland
I signed a 4-month lease with my landlord. According to Maryland law, "when returning security deposits of $50 or more, the landlord must include simple interest of 3% every year, accrued at 6-month intervals from the date the security deposit was paid."
Since it was a 4-month lease and I paid 1-month worth of rent as deposit, I do not get any interest back, correct?
Thanks!
I signed a 4-month lease with my landlord. According to Maryland law, "when returning security deposits of $50 or more, the landlord must include simple interest of 3% every year, accrued at 6-month intervals from the date the security deposit was paid."
Since it was a 4-month lease and I paid 1-month worth of rent as deposit, I do not get any interest back, correct?
Thanks!
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