Apartment Ratings :: Question - Is it illegal for a managment company (licensed PA realtor) to keep the interest earned on my security deposit?

Is it illegal for a managment company (licensed PA realtor) to keep the interest earned on my security deposit?

by ple in Legal, PA

Asked 240 days ago

I worked for a mgmt company where I also rented. The mgmt was sold to another company, where I worked for two weeks, to transfer the accounts. I know for a fact that my security was kept in an interest bearing account for 27 months and my security deposit plus accrued interest was passed onto the new management. When I vacated, I was not given any interest, nor was I given back a separate pet deposit, even though there were no deductions. Do I really need to hire an attorney for this?

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One Answer

Answer by oceanwind08 on Apr 18, 2008 at 10:39PM

In most states, if the deposit is not refunded or if the landlord does not send you an itemize list of deduction within 30 days of your move-out, then you are entitled to 3x the deposit. Regarding the interest..you have to read your lease! It will determine if you have any rights to the interest. I would at least get a legal consultation.

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