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RESIDENTIAL LANDLORD AND TENANT ORDINANCE Rate of Interest on Security Deposits Municipal Code Chapters 5-12-080,5-12-081 and 5-12-170 A landlord must give a tenant a receipt for a security deposit
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What is security deposit interest rate?
The security deposit interest rate is the rate at which landlords are required to pay interest on security deposits held for tenants.
Who is required to file security deposit interest rate?
Landlords or property managers are required to file security deposit interest rate.
How to fill out security deposit interest rate?
Landlords can fill out the security deposit interest rate by calculating the interest owed to tenants and submitting the required documentation to the appropriate authorities.
What is the purpose of security deposit interest rate?
The purpose of security deposit interest rate is to ensure that tenants receive a fair return on the security deposit they have paid to landlords.
What information must be reported on security deposit interest rate?
The information that must be reported on security deposit interest rate includes the total amount of security deposits held, the interest rate applied, the interest owed to tenants, and any other relevant details.
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