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Security Deposit Interest Question in Maryland

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mwooster

Junior Member
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!
 
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LdiJ

Senior Member
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 includesimple interest of 3% every eyar, 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!
Based on the law as you quoted it, you are correct, you would not get any interest back. Just FYI any interest would be insignificant.

Example, 1000.00 at 3% would yield 30.00 for an entire year. For 4 months that would be 10.00. You are not talking about any real money here.
 

mwooster

Junior Member
Based on the law as you quoted it, you are correct, you would not get any interest back. Just FYI any interest would be insignificant.

Example, 1000.00 at 3% would yield 30.00 for an entire year. For 4 months that would be 10.00. You are not talking about any real money here.
Thanks, buddy. I know, just want to see if I can get a bit more snack money lol
 

Just Blue

Senior Member
Probably better for my obesity issue I'm facing lol
mwooster, Please stop posting to other members threads unless you know the LAWS for that state. As you don't know the law for your own you should likely sit back and hush.

Thanks!!
Blue
 

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