Ct Rental Security Deposit Laws & Calculator.

By
Real Estate Broker/Owner with DMK Real Estate Ct RE Broker 0789963

Ct Rental Security Deposit Laws & Calculator.

In Connecticut Landlords cannot require more than two months’ rent as security deposit. The limit is reduced to one month’s rent if the tenant is 62 years of age or older. The security deposit must be kept in an escrow account in a Connecticut bank. On the security deposit Landlords must pay tenants interest that is determined and published by the Connecticut Banking Commissioner. For 2014 the rental security deposit interest rate is 0.09%.

                                                                                                                                                                                         

 

 

 

 

The state of Connecticut provides an easy to use Excel Worksheet to determine the interest that is owed on rental security deposits. The years and interest rates are all plugged in, just put in the number of deposit amount$ and days, months for each year and it will automatically figure out what is owed.

 

 

For more information and FAQ’s about Connecticut Rental Security Deposits go to Connecticut Department of Banking webpage:-

http://www.ct.gov/dob/cwp/view.asp?a=2247&q=299050

And for more detailed information your can review Section 47a-21 of the Connecticut general statutes.

 

This article has been written by David Popoff.

David has lived and worked in lower Fairfield County for over 35 years with 20+ years’ experience in real estate investments and property management. He is a licensed real estate broker in Connecticut at DMK Real Estate llc in Darien, Ct.

 

 Assisting Home Buyers & Sellers with step by step guidance in Fairfield County, Connecticut contact DMK Real Estate, Darien, Ct.

Posted by

David Popoff
Connecticut Licensed Real Estate Broker
Realtor® Green
Seller Representative Specialist
Accredited Buyer Representative
candidate
LEED AP Homes

 

DMK Real Estate, Darien, CT.
Cell (203) 228-0646
DMKrealestate.com

 

 

 

DMK Realty, 06820 

 

 

 

 

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Topic:
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Connecticut Fairfield County Stamford
Groups:
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CT Shoreline
Connecticut Professionals
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Investment Property (USA)
Tags:
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ct rental law
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Rainmaker
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

Glad we don't have such strict rules( yet?).

I don't work often with rental properties, but a lot of applicants( tenants, regardless income situation) have issues with their credit and they are willing to pay more upfront to compensate LL for higher risk.

Jun 21, 2014 06:47 PM #1
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Rainmaker
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David Popoff

Realtor®,SRS, Green ~ Fairfield County, Ct
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