Real Property – Residential Leases – Interest on Security Deposits
Changing the interest rate paid on a security deposit at the end of a tenancy under a residential lease when an evicted or ejected tenant makes a timely written demand for return of the security deposit; altering the annual interest rate paid by a mobile home park owner on a security deposit at the end of a tenancy; requiring the Department of Housing and Community Development to maintain on its Web site a specified list or calculator; applying the Act prospectively; etc.
April 1, 2021