In terms of section 5(3)(d) of the Rental Housing Act,
if the landlord or Property Practitioner holds the deposit, he / she
must invest the deposit in an interest bearing account with a minimum rate of
interest applicable to a savings account.
The tenant is entitled to request written proof of the
interest earned and if requested, the landlord / Property
Practitioner is obliged to provide such proof.
Please also refer to the section on Refunding the
Deposit.
For more information, please see TPN's video
on the Rental Housing Act or read our interesting blog article on
deposits to find out more...
https://mrisoftware.tpn.co.za/blog/rental-deposits-demystified-what-when-how-and-why/ with a downloadable PDF for your office http://bit.ly/3L1UZoY