Interest on rental deposit

Asking for a deposit equal to at least one month’s rent is recommended. This must be kept in an interest-bearing account according to law – the interest is for the tenant, not the landlord. The deposit plus interest must be paid back to the tenant at the end of the lease, after a final inspection of the property. If the tenant is in arrears at the time of vacating the property, and/or has caused damage to the property beyond normal wear and tear, you are entitled to use the deposit to make good the damage or to cover what is still owed to you in rent.