Interest Rate on Tenant Security Deposits Increased to 0.75 Percent for 2019
Interest Rate on Tenant Security Deposits Increased to 0.75 percent for 2019
The City of Boulder has calculated the interest rate for tenant security deposits for the 2019 calendar year to be 0.75 percent, up from 0.16 percent. The new rate is effective Sunday, Jan. 1, 2019, and is the highest rate since 2009.
The tenant security deposit interest rate is recalculated each year in accordance with Ordinance 7320, which was adopted on Feb. 17, 2004. The rate is the average of the one-year certificate of deposit from the top three financial institutions in Boulder, based on market share data as of Dec. 15, 2018.
Relevant code language may be found in Chapter 12-2: Landlord-Tenant Relations of the Boulder Revised Code (sections 12-2-2 and 12-2-4 through 12-2-7).
If tenants have questions about their lease, they should contact their landlord. The city offers support for lease questions and tenant/landlord issues through the Community Mediation Service at 303-441-4364 and through the online Landlord/Tenant Handbook ( https://bouldercolorado.gov/family-services/landlord-tenant-handbook ).
Another resource for tenants who are University of Colorado students is the university’s Off-Campus Housing and Neighborhood Relations web page at http://www.ocss.colorado.edu .
Published: Dec. 31, 2018
Meghan Wilson, Media Relations, 303-441-4073