# @wmar2news on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/CtxOeSUuQ_P
- **Gondola URL:** https://gondola.cc/posts/7748545-wmar2news-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/thumbnails/23c66ef22c.jpg
- **Posted:** 2023-06-21T22:28:18.000+00:00
- **Account Owner:** WMAR-2 News (@WMAR2News) — https://gondola.cc/WMAR2News

## Caption

A renter wants her security deposit back, plus interest. She looked up the law and learned that she may be entitled to more money than she put down.

Security deposits accrue interest depending on the year you moved in. Dorene Mack lived in her apartment for 27 years.

According to Maryland regulations, her interest rate would’ve been 4 percent, but when she moved out, Mack said she received less than her initial deposit.

“I read up on a lot of things and I know the security deposit draws interest. They didn’t give me any interest. They didn’t even give me what I paid when I moved in,” said Mack.

Maryland law requires landlords to refund security deposits of $50 or more to the tenant, plus 1.5 percent simple interest, no more than 45 days after the move out date, unless the landlord is entitled to keep part or all of the deposit amount. Prior to January 1, 2015, security deposits accrue 3 percent simple interest per year. And deposits received before October 1, 2004, accrue simple interest at 4 percent annually.

Mack recalls putting down $350 back in 1995. A simple interest calculator shows her deposit would have grown to over $720 when she moved out.

Click the link in our bio to read more 
#renter #securitydeposit #rent #money #fyi #didyouknow

## Stats

- **Views:** 955
- **Likes:** 49
- **Shares:** 0
- **Comments:** 0

## Tags

fyi, renter, money, rent, securitydeposit, didyouknow

---
Copyright (c) Gondola