My question involves a condominium located in the State of: Massachusetts. In the absence of specific language relative to interest or non-interest bearing, upon the return of the deposit, should interest be paid.
My question involves a condominium located in the State of: Massachusetts. In the absence of specific language relative to interest or non-interest bearing, upon the return of the deposit, should interest be paid.
Read this link which contains the law on "security deposits" for MA as it relates to the "one month rental deposit" and the "last months rent", and how interest is to be paid on them.
I was a MA landlord, based on your question, I don't know if you are referring to deposits being held paid while your rental application is in process, and as far as I know, I am not aware of any interest due for that.