vacation rental security deposit

My husband and I, California residents, are renting a cottage in Bass Lake, CA, for a week in July. The rental company is asking for a $750 deposit due in 2 days. They will be cashing this check and will reimburse us up to 21 days after departure. Is it legal to cash a deposit like this? Won't they be able to make interest on our money? And we won't even be accessing the rental until July 21st! Please let me know, as I am concerned this action by the rental company is illegal. Thank you.

Holy Cow !

Talk about greedy tenants!

$750 deposit at 4% interest would bring 8.2 cents per day.
The cost for the landlord's accountant to keep track of interest payments to you, including withholding and 1099 statements is about $250.

On the other side, if the landlord didn't take the deposit now, how would the landlord be able to reserve the cottage for you until summer, let you stay for a week, and then have the $750 to use to clean and repair damage if necessary?

Of course it is legal. Do you expect the landlord to trust you that the check is good, or that you won't stop payment if you change your mind about using the cottage?

I'm really touched by your suspicions that the landlord, who is bringing you a cottage at the lake for your summer pleasure, is really surreptitiously out to cheat you out of $7.50.

You must be listening to mary hartman (aka dj, aka dj1).

[Edited by LL on 04-05-2001 at 07:14 PM]

Thank you for your response. We will send the check in. I also appreciate your sarcasm and belittlement, and never plan to post a message on this site again.

It is not legal for tenants to demand interest on security deposits for cottage rentals in Bass Lake, CA.

If they do, they will be given interest at 4 % per annum, and charged an accounting fee of $250. The accounting fee is additional rent and may be deducted from the security deposit.

There is a difference between sarcasm and belittlement. I use sarcasm.