Question

When will the security deposit begin accruing interest?

A) Immediately upon signing the lease
B) On the date Sally moved into the apartment
C) 30 days after the security deposit was deposited
D) After one year of the lease agreement

Answer 1

The security deposit will begin accruing interest 30 days after the security deposit was deposited.

The answer is option ⇒C

Step-by-step explanation:

According to the lease agreement, the termination clause states that the premises shall be considered vacated only after all areas including storage areas are clear of all resident's belongings, and keys and other property furnished for resident's use are returned to the owner.

If the resident holds over beyond the termination date or fails to vacate all possessions on or before the termination date, they will be liable for additional rent and damages, including damages due to the owner's loss of prospective new renters.

The answer is option ⇒C