Calculating Interest on a Security DepositFind more information from the following link(s):
Effective October 1, 2004, all security deposits received or held on or after that date will accrue interest at a rate of 3% simple interest per year. If a security deposit is less than $50.00, no interest payment is required from the landlord to the tenant.
Effective January 1, 2015, the interest due on security deposits will be reduced from 3% simple interest per year to the daily U.S. Treasury yield curve rate for 1 year, as of the first business day of each year, or 1.5%, whichever is greater, less any damages rightfully withheld.
For further information, and examples, please see page 15 of the Landlord Tenant Handbook by clicking on the link below. The Office of Landlord Tenant Affairs can assist in the calculation of interest on a security deposit. To file a formal Landlord Tenant complaint, download a complaint form and follow the filing instructions by visiting the DHCA website utilizing the link provided below.
Landlord-Tenant HandbookLandlord-Tenant Complaint FormOffice of Landlord-Tenant Affairs (OLTA)