Re: Interest on Deposit?
09-24-2012 06:52 AM
First, you only specified one of the three ways they hold deposits. What are the other two ways? Maybe they ended up holding it in an account that doesn't acrue interest. Interest rates are not very good, nor have they been for a while. I don't think that is a fight worth fighting.
There is something you need to look at in your lease though. Does it say that a lease automatically renews at the end of the lease term unless notice is given? I have lived in a lot of different places with a lot of different leases. Some will end at the end of the term unless a new lease is signed to extend it for another year (or even on a month-to-month basis). Some will automatically renew for another year unless notice is given. Some will automaticaly renew on a month-to-month basis unless notice is given. I have been in all three of these kinds of leases. Generally, notice is 30 days, although I have seen 60 days. If your leases states that it will renew unless notice is given stating that you do not want to renew the lease, you do not have any recourse. It is your responsibility to know what your lease says since you have to sign it to move it.
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