Real Estate/Development
Jun. 29, 2004
San Francisco Apartment Landlords Lose Court Challenge to Deposit Interest
A San Francisco city ordinance that requires landlords to pay tenants 5 percent interest on their security deposits is not an unconstitutional taking of property, a judge has ruled.
BY TYLER CUNNINGHAM
San Francisco Daily Journal Staff Writer
A San Francisco city ordinance that requires landlords to pay tenants 5 percent interest on their security deposits is not an unconstitutional taking of property, a judge has ruled.
Local landlords had argued that, during a down market, the ordinance might force them to absorb a loss in order to make the interest payments.
But San Francisco Superior Court Judge Richard A. Kramer sa...
San Francisco Daily Journal Staff Writer
A San Francisco city ordinance that requires landlords to pay tenants 5 percent interest on their security deposits is not an unconstitutional taking of property, a judge has ruled.
Local landlords had argued that, during a down market, the ordinance might force them to absorb a loss in order to make the interest payments.
But San Francisco Superior Court Judge Richard A. Kramer sa...
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