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Security Deposit Interest

NYC Rent Regulation: Rent Control/Rent Stabilized, DHCR Practice/Procedures

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Security Deposit Interest

Postby jsatenant » Thu May 09, 2002 11:35 am

My building has changed ownership several times in the past 20 years and over the years the security deposits have been completely lost or stolen. The most recent owner (about 8 years ago) admitted at the time that they didn't have the money. Now, every two years at lease renewal they demand an increase to the security deposit and every time I have to send a registered letter saying that we are owed interest for the past several years and it should be applied to the deposit. They never apply any interest, as it says in the lease itself and just allow us to not increase our security deposit (as a sort of compromise). While I guess this is ok, I wonder if there is any way this can hurt me if we ever move out.

Thanks.
jsatenant
 
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Location: NYC

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