HELP: getting my security deposit back ?

[achca]

i am about to return my condo to the landlord. when i asked him about the security deposit back, he told me that deposit will not be return immediately. he said he has the right to hold that deposit for 10 days after i return the condo to him, then after 10 days, he will mail the deposit to me if everything is clean. Is this true? all i know is he should return the deposit back to me when i return the condo to him immediately if he agree everything is clean.

[Tik-Tok]

Yes, it's true, in case the new tenants find something that he missed on your exiting walk-through.

He IS required though, to give you interest on that security deposit for all the time he's held it (since you moved in)

[muse017]

Originally posted by Tik-Tok
Yes, it's true, in case the new tenants find something that he missed on your exiting walk-through.

He IS required though, to give you interest on that security deposit for all the time he's held it (since you moved in)

:thumbsup:

I had my deposit back from my landlord a month after i moved out. He had to make sure everything is alright and then issued the check with interest for 3yrs.

[achca]

wow..... Thank you very much.:thumbsup:
that;s all i need to know

[dodger97]

Here's a link to calculate what interest you can expect...


Link (http://governmentservices.gov.ab.ca/consumer/landlord/interest/index.cfm)

[danlowteg]

Original Security Deposit Date January 1, 1980
Security Deposit Return Date December 1, 2006
Security Deposit Amount $6000000.00
Interest Accumulated $11475381.30
Security Deposit Return Amount $17475381.30

i think im gonna put a deposit for 6 mill next time and rent for almost 27 years

[TDA]

Not true about the interest.

It is perfectly legal to sign a lease, in there it could say that no interest will be paid on the deposit.

Check the lease.

[Tik-Tok]

Originally posted by TDA
Not true about the interest.

It is perfectly legal to sign a lease, in there it could say that no interest will be paid on the deposit.

Check the lease.

It's illegal to hold someones money without it accumulating any kind of interest.

[dodger97]

^^Exactly...hence the law

[TDA]

:bullshit:
Oh come on, I've had builders hold my deposit for a year and return it without interest when they cancelled. If you signed a contract stipulating no interest will be paid, then no interest it is.

"The landlord must pay interest to the tenant annually, at the end of each tenancy year, unless both parties agree otherwise."

http://governmentservices.gov.ab.ca/consumer/landlord/interest_rates.cfm

check it out yourself if you don't believe it.. Futhermore - even if interest is required, it is currently specified to be 0%.