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CalAttorney2
CalAttorney2, Attorney
Category: Landlord-Tenant
Satisfied Customers: 10244
Experience:  I am a civil litigation attorney with experience representing both landlords and tenants in residential and commercial property disputes.
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I have another question. As I previously explained, I live

Customer Question

I have another question for you. As I previously explained, I live in a Manufactured Home Community where I own my own home, but I rent the land my home sits on. When I first moved in (October 1, 2007), I and my now deceased husband, gave the Landlord
a check for $590 - $295 for one month's rent and $295 as a Security Deposit, and I have a copy of that check. My renewal lease agreement commencing November 1, 2015 to November 1, 2016 is requesting a Security Deposit in the amount of $295. His words: "Upon
execution of this agreement, resident shall deposit with landlord the sum of $295.00 which reflects one month's rental payment as security for the performance by resident of all obligations imposed on resident by law or this agreement." Is this lawful - to
require a Security Deposit twice?
Submitted: 2 years ago.
Category: Landlord-Tenant
Expert:  CalAttorney2 replied 2 years ago.

Dear Customer,

Yes, it is possible for a landlord to charge an additional security deposit.

However, as the landlord is now going to be holding a deposit that is more than one month's rent, they must place it in an interest bearing account, and you will earn interest at a rate of at least 5%. (Your initial deposit will be combined with the new deposit).

You may want to write to the landlord and confirm that they are requesting the additional deposit, and that they will be placing this in an interest bearing account for you. If they sent you the request in error, they may wish to rescind their earlier billing notice, but make sure that you get this confirmation in writing.

Here is the Ohio statute: http://codes.ohio.gov/oac/4781-12-32