Does a landlord have to pay interest on a security deposit in Pennsylvania?

Yes. Pennsylvania requires a landlord to pay the tenant interest on a security deposit. Deposits over $100 must be escrowed; interest (less a 1 % fee) is paid after the second year. The deposit itself must be returned within 30 days of the end of the tenancy. This is 68 P.S. § 250.511a–250.512.

WhatPennsylvania
Interest payableYes
How it worksDeposits over $100 must be escrowed; interest (less a 1 % fee) is paid after the second year.
Deadline to return the deposit30 days

Source

68 P.S. § 250.511a–250.512

Read the statute in the Pennsylvania Statutes (Pennsylvania General Assembly): palegis.us.

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 Pennsylvania rules

The same question in other states

Related