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PROPERTY MATTERS  Volume XI - March 2009
The San Francisco Rent Board has announced the security deposit interest rate for March 1, 2009-February 28, 2010.  The amount is 3.1 percent.
 
Some helpful hints for figuring security deposit payments:
  • The landlord has the option of paying the security deposit interest to the tenant in the form of either a direct payment or a credit against the tenant's rent.
  • The tenant is owed simple interest at the rate in effect when the security deposit interest payment is due. If interest is owed for multiple years, the interest may not be compounded.
  • Security Deposit interest must be paid within two weeks of the date a tenant vacates. However, a landlord may retain a portion of the unpaid accrued interest where the amount of the security deposit alone is insufficient to cover unpaid rent, repair of damages to the premises caused by the tenant, or necessary cleaning of the premises.
  • You may collect 50% of the Rent Board fee, which appears on your annual property tax bill, from the tenant each year, by deducting it from the security deposit interest payment due to the tenant each year. If there is no security deposit held by the landlord, then the landlord may bill the tenant for the fee directly.
     

Have a Property Management question?  Chances are others do too. 
Submit your question and see the answer in next month's newsletter.
 
 
JUST RENTED
 

Address

Neighborhood

Bed

Bath

Description

Price

3253 Harrison

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2+

1

Charming Victorian flat

$2,700

 FOR RENT

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Description

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1232 Shelter Creek

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Studio with sleeping alcove

$1,100

620-B Spruce

S. San Francisco

1

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Completely remodeled in-law

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620-A Spruce

S. San Francisco

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$2,375

1016 San Gabriel Cir. #529

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1569 24th Ave.

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$2,400

601 Van Ness Ave.

Civic Center

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Short-term, furnished

$2,700

 

LINGSCH REALTY APPRECIATES YOUR REFERRALS 

Know someone who needs property management services?  Refer a friend to Lingsch Realty's property mangement division and receive $100 off property management services.

 
                * All referred clients must sign a property management contract for six months or more, or Lingsch
                  Realty must execute a six month or longer lease agreement on behalf of the new client.  Offer   
                  good for new referrals only.
QUICK LINKS OF INTEREST
San Francisco Rent Board
Lingsch Realty





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