Posted by Dawn on November 03, 2000 at 15:01:09:
I've lived in my rent stablized apartment (6 unit brownstone in Queens) since 1994. I paid my security deposit once and have not made any subsequent payments to it, although I do believe that the landlord is to place it in some kind of an interest bearing account. My reasoning was whatever interest the money made each year was just put back into the account instead of being given to me. Every time the lease came up for renewal, I would just pay the new rent increase. The questions are: if I were to move out, and give the month's notice and leave a clean empty apartment, do I still get my security back? would it be the original amount, more than the original amount or at a percentage of whatever amount is in there?
I've asked the landlord about where the account is and was never provided any real documentation in writing about where it is. Does the tenant have a right to know where their security deposit is and how much is in the account?
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