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Am I entitled to earn interest on my rental deposit?
In terms 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 landlord cannot contract out of this legal obligation.
You are entitled to request written proof of the interest earned and if requested, the landlord is obliged to provide such proof.
Read our interesting Blog article to understand a bit more, like when should you have an exit inspection, what date your deposit should be refunded to you and what can the deposit be used for...
https://mrisoftware.tpn.co.za/blog/rental-deposits-demystified-what-when-how-and-why/
Download your copy
here
Last Updated: 2024/04/03
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