Have you ever taken a tenant’s security deposit and done any of these things?
• Not given your tenants a receipt for it?
• Not provided them with a statement of condition within the required timeframe?
• Not put it in an account in their name?
• Not paid them interest each year?
• Not provided them with a statement for said interest each year?
• Not included the account number on that statement?
If you’re answer is anything other than an emphatic yes, then you’re probably not allowed to keep the deposit. Maybe it’s time to brush up on chapter 186, section 15B HERE!