Politics & Government
No More Interest Payments Needed on Security Deposits
City abandons policy in place for more than a dozen years, citing troubles managing the concept.
Did you know landlords were supposed to be paying tenants in the city of Rohnert Park interest on all security depostis collected? That policy, in place since 1994, has been dropped according to the Press-Democrat.
The idea was for renters to gain the interest they could have earned on their money if they invested on their own, city officials told the Press-Democrat, but managing the program was difficult and there were questions about how many people participated or knew of the program.
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Landlords, were you paying interest to your renters for this program, or did you even know about its existence?
Renters, were you aware you could get your security deposit back, plus gained interest from your landlord?
Find out what's happening in Rohnert Park-Cotatiwith free, real-time updates from Patch.
What does everyone think about this program and it being dropped?
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