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Is Clause "Deposit will be returned without interest" in Lease Legal?
We live in a rent controlled apartment in Los Angeles. I understand that by law, the landlord has to pay interest on the deposit. However our landlord put a clause in the lease, saying that "deposit will be returned without interest".
Is that legal?
LA Housing department says it's a civil matter and I'd have to hire a lawyer. Has anybody ever dealt with this?
Los Angeles RSO requires interest to be paid on deposit.
4 Antworten
- LandlordLv 7vor 1 JahrzehntBeste Antwort
CA does not require interest, or even an account for deposits.
This is the very first time I heard that LA had such a law. But, yes, this is a civil matter (contract) and would need to be brought before a judge to resolve.
- TimLv 7vor 1 Jahrzehnt
California does not require interest to be paid on deposits. If LA requires in within their city, then just placing that statement in the lease does not change the law.
- frak1a12345Lv 6vor 1 Jahrzehnt
Yes, it is legal. Most landlords give a yearly discount on one month's rent equal to the interest earned.
- estielmoLv 7vor 1 Jahrzehnt
If LA Housing says it doesn't have jurisdiction you can bet it's a contractual matter and you signed the contract.
