Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Ohio Real Estate Q&A Discussion Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

2,531
Posts
4,278
Votes
Jill F.
  • Investor
  • Akron, OH
4,278
Votes |
2,531
Posts

Last Month's Rent in Ohio in addition to security deposit

Jill F.
  • Investor
  • Akron, OH
Posted
Hi fellow Ohio landlords, The law in ohio requires that landlords pay (5% per annum) interest on security deposits over one month's rent that are held longer than 6 months. 

http://codes.ohio.gov/orc/5321...

Will the courts view the collection of the last month's rent as an additional security deposit that requires the payment of interest? What about funds for utility deposits for water/sewer/trash? If I collect last month's rent and then a tenant becomes delinquent in payments, must the last month's rent be used before an eviction can be filed?
Thanks for any help. -J

Loading replies...