Example Example

Landlords in San Francisco must pay, either directly or in the form of a rent credit, an amount of interest set by the San Francisco Residential Rent Stabilization and Arbitration Board on all security deposits held for at least one year (except government-subsidized housing). [SF Admin C §49.2(a), (b), (f).] The accrued interest must be paid once a year on the same month and day (commencing with the one-year anniversary date on which the deposit was first made). [SF Admin C §49.2(b).] When a tenancy is terminated, all unpaid accrued interest on a security deposit held for at least one year must be paid to the tenant within two weeks after he or she vacates the premises, except to the extent any part of the interest may be lawfully retained under CC §1950.5(e). [SF Admin C §49.2(c).]