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