Annual security deposit interest payments are due soon!
The 2023 annual security deposit interest rate is 0.7%
The Berkeley Rent Ordinance requires that landlords return annual interest on tenants’ security deposits by the end of December, or deduct the owed interest amount from January 2024 rent.
Per Rent Board Regulation 704, if the annual interest is not paid by January 31st, the tenant can deduct 10% of their security deposit amount from a rental payment during the 2024 calendar year.
Visit our Security Deposit Interest & Calculator page for more information and to use our calculator to determine how much interest is owed. If you need help, you can contact a Rent Board housing counselor in the following ways: