ID H0505

Landlords collecting security deposits on or after July 1, 2010, must pay interest to tenants if the deposit is held for one (1) year or longer at the rate equal to regular savings account interest from the Idaho bank, savings and loan, or credit union where it is deposited.

Tenants may request accrued interest annually 30 days before each year of tenancy expires, and landlords must comply within 15 days of the expiration of that year's tenancy.

When multiple security deposits are mingled in a single account, landlords must pay actual interest earned proportionately to each tenant.

Security deposits and any accrued interest must be refunded within 21 days if no time is specified by agreement, or within 30 days after premises surrender, whichever is earlier.

Partial refunds must be accompanied by a signed statement itemizing retained amounts, their purpose, and detailed expenditures; property ownership changes during tenancy make the new owner liable for deposit refunds.