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I kept a tenant's deposit - about $1,800 - in a landlord/tenant account at Bank of America for two years paying 0.01% interest, which came to about $0.50 over the life of the deposit. When the tenant moved out, BOA charged me $20 for a check to close out the account. So I lost money on that transaction.
The OP seems to be mostly after revenge, but I would encourage other tenants to not bother going after the interest. It's really not enough to bother with.
So I finally got my interest check, $2, but it states interest from January 2017 through September 2017... I have been in the unit since August 2015. And I have not received any interest payments since that point. So now I am still owed interest for September 2015-December 2015, and January 2016-December 2016.
It is about vengeance because these people are lying frauds at this point and it is like pulling teeth. And if it is happening to me, it is happening to others.
Also, their certified check cost then $15 to mail me for the $2 interest
Quote:
Originally Posted by Kthnry
I kept a tenant's deposit - about $1,800 - in a landlord/tenant account at Bank of America for two years paying 0.01% interest, which came to about $0.50 over the life of the deposit. When the tenant moved out, BOA charged me $20 for a check to close out the account. So I lost money on that transaction.
The OP seems to be mostly after revenge, but I would encourage other tenants to not bother going after the interest. It's really not enough to bother with.
So I finally got my interest check, $2, but it states interest from January 2017 through September 2017... I have been in the unit since August 2015. And I have not received any interest payments since that point. So now I am still owed interest for September 2015-December 2015, and January 2016-December 2016.
It is about vengeance because these people are lying frauds at this point and it is like pulling teeth. And if it is happening to me, it is happening to others.
Also, their certified check cost then $15 to mail me for the $2 interest
You need a hobby. You won't even be able to buy a cup of coffee at Starbucks. Seriously move on and stop taking the "law" to the extreme. Crap like this floods small-claims court when people who have legitimate issues have to wait.
If everyone thought that way then there would be nothing from stopping corporations from screwing everyone. At what point is it legitimate? $10? $100? $1000? Who are you to decide my perceived value of it? And if a legitimate management company is doing this to thousands and thousands of tenants, then we're talking tens of thousands, or more.
The law exists for a reason. If its too small for the law, then the law should state as such.
If everyone thought that way then there would be nothing from stopping corporations from screwing everyone. At what point is it legitimate? $10? $100? $1000? Who are you to decide my perceived value of it? And if a legitimate management company is doing this to thousands and thousands of tenants, then we're talking tens of thousands, or more.
The law exists for a reason. If its too small for the law, then the law should state as such.
So I finally got my interest check, $2, but it states interest from January 2017 through September 2017... I have been in the unit since August 2015. And I have not received any interest payments since that point. So now I am still owed interest for September 2015-December 2015, and January 2016-December 2016.
It is about vengeance because these people are lying frauds at this point and it is like pulling teeth. And if it is happening to me, it is happening to others.
Also, their certified check cost then $15 to mail me for the $2 interest
You are supposed to be paid your interest on an annual basis.
Quote:
The law now requires that the interest earned on the deposit must either be paid to you in cash every year or subtracted from the amount of rent you owe on the renewal or the anniversary of the lease. This must be done either when your lease is to be renewed or on January 31 each year. (The landlord must give you a written notice that he or she will be paying you on January 31 of each year instead of the date your lease is renewed.) Cite: N.J.S.A. 46:8-19(c).
The accounting department of the management company should have the bank statements, ask them for a copy of those as well.
Of course I have but they have either ignored my email or answered a different question. They have not been able to provide me the specific bank account number (but did provide the bank), nor previous dates or check numbers of interest payments.
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