Does a landlord have to pay interest on a security deposit in Ohio?
Yes. Ohio requires a landlord to pay the tenant interest on a security deposit. 5 % per year on the portion over $50 or one month's rent when held six months or longer. The deposit itself must be returned within 30 days of the end of the tenancy. This is Ohio Rev. Code § 5321.16.
| What | Ohio |
|---|---|
| Interest payable | Yes |
| How it works | 5 % per year on the portion over $50 or one month's rent when held six months or longer. |
| Deadline to return the deposit | 30 days |
Source
Ohio Rev. Code § 5321.16
Read the statute in the Ohio Revised Code (Ohio Legislative Service Commission): codes.ohio.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.
Compare this rule in every state
More Ohio rules
- How long does a landlord have to return a security deposit in Ohio?
- How many days does a tenant get to pay late rent in Ohio?
- How much notice does a landlord have to give before entering in Ohio?
- How much notice does a landlord have to give before raising the rent in Ohio?
- How much notice must a landlord give to end a tenancy in Ohio?
- Can a landlord change the locks to force a tenant out in Ohio?
- How long does a tenant have to respond to an eviction case in Ohio?
- What are the steps to evict a tenant for unpaid rent in Ohio?
- Is there rent control in Ohio?
- Can a landlord retaliate against a tenant for complaining in Ohio?
- Do contractors charge sales tax in Ohio?
- Is appliance repair taxable in Ohio?
- Is contractor labor taxable in Ohio?
- Every Ohio rule on one page
The same question in other states
- Connecticut
- District of Columbia
- Illinois
- Iowa
- Maryland
- Massachusetts
- Minnesota
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Dakota