Does a landlord have to pay interest on a security deposit in District of Columbia?
Yes. District of Columbia requires a landlord to pay the tenant interest on a security deposit. Interest at not less than the statement savings rate of the D.C. bank holding the escrow account, set each January 1 and July 1 for the six months that follow, and all of it is the tenant's. The deposit itself must be returned within 45 days of the end of the tenancy. This is 14 DCMR §§ 308–311 (as amended by D.C. Law 16-276).
| What | District of Columbia |
|---|---|
| Interest payable | Yes |
| How it works | Interest at not less than the statement savings rate of the D.C. bank holding the escrow account, set each January 1 and July 1 for the six months that follow, and all of it is the tenant's. |
| Deadline to return the deposit | 45 days |
Source
14 DCMR §§ 308–311 (as amended by D.C. Law 16-276)
Read the statute in the Code of the District of Columbia (DC Council): code.dccouncil.gov.
This is a summary of a published statute, not legal advice. Rules change, local ordinances can add to them, and the terms of a specific lease may differ. Check the citation and speak to a lawyer before acting.
How Seayora uses this rule
Seayora computes the deadline this rule sets from the tenancy’s own dates, shows it on the deposit statement, and reminds the landlord before it falls due — so the answer above is not reference material sitting beside the product, it is the rule the product enforces.
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