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10-02-2013, 07:35 AM
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3,851 posts, read 4,747,550 times
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Landlord operates three adjacent buildings with 1 super - will I be eligible for interest on my security deposit?
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10-02-2013, 07:46 AM
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41,048 posts, read 41,000,155 times
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What is the connection between interest on your security deposit and the fact the 3 buildings share the same super?
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10-02-2013, 08:36 AM
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Location: Brooklyn New York
17,734 posts, read 30,007,622 times
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No, what makes you think you are entitled to interest?
he could have 16 building, not your business.
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10-02-2013, 11:09 AM
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56 posts, read 120,805 times
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Quote:
Originally Posted by nightcrawler
No, what makes you think you are entitled to interest?
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The lRent Guidelines Board, actually:
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[SIZE=2]If the building has six or more units the landlord must pay interest, if any, on your security deposit. The owner may keep one percent of the deposit amount each year as an administrative fee. If the building has fewer than six units and the owner deposits the security in a bank, the interest also belongs to the tenant, less one percent for administration. [/SIZE]
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10-02-2013, 11:11 AM
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30,386 posts, read 43,877,003 times
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Quote:
Originally Posted by OldStyleNo10
The lRent Guidelines Board, actually:
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Well read what you just posted. Does your building have 6 or more units? |
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10-02-2013, 11:12 AM
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30,386 posts, read 43,877,003 times
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Quote:
Originally Posted by OldStyleNo10
The lRent Guidelines Board, actually:
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Well does OPs building have 6 or more units? |
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10-02-2013, 12:11 PM
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56 posts, read 120,805 times
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Well, the OP hasn't answered yet, but I can assure you my building does. My response was more to nightcrawler: "what make you think you're entitled to interest?"
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10-02-2013, 03:36 PM
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Location: Manhattan
24,913 posts, read 35,028,099 times
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Thing is, in this contrived low-interest environment, the 1% "management fee" eats up all the interest owed.
I double anyone is getting any interest on their deposit today.
In my last rental we were sent a check every year for interest.
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10-02-2013, 08:46 PM
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6,682 posts, read 7,729,615 times
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I lived in a 900 and some apt building and never got interest on my security. Like KK said with interest rates so low I didn't bother to say anything.
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10-06-2013, 07:28 AM
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3,851 posts, read 4,747,550 times
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I'm just curious about the notion.
No. This is related to a building with 3 units, run as a block of 3 buildings of 9 units total.
The 3 buildings only have one super between them. The landlord purchased the buildings as a "block of 3" and had recently listed then on the market as a block of 3.
Just curious only having one super for 3 buildings and running them as a single entity gives me any more rights.
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