Landlord & Tenant Law
What steps does a landlord need to take to comply with the last month’s rent law?
The law requires that a landlord give a residential tenant a written receipt when accepting last month’s rent. A tenant is entitled to receive 5% interest on the last month’s rent payment every year, except that if the landlord keeps the money in a bank and the bank pays less than 5%, then a tenant is only entitled to the amount actually earned.
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