Posted by me on January 15, 2001 at 13:48:17:
In Reply to: Security Deposit Interest posted by Yarrow on January 15, 2001 at 13:38:49:
Whatever is left over after that 1%. There is no requirement other than that. It usually is done automatically through the bank. They have special accounts just for this purpose.
: If you answer this question correctly you get the frost free refrigerator behind door #3:
: What is the annual interest to be paid to a tenant by their landlord on the tenant's security deposit (rent stabilized apartment)in New York City?
: I understand that 1% can be deducted for kick backs, I mean,administrative costs.
: Thank you for the correct answer.
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