Boulder renters are set to earn less interest on their security deposits this year.
The city on Thursday announced the interest rate for 2020 tenant security deposits was set at 0.39%, down from 0.75% in 2019, according to the Boulder Area Rental Housing Association.
The new rate is the mathematical average of the one-year certificate of deposit from the top three financial institutions in Boulder, based on market share data as of Dec. 16, a city news release stated.
The interest rate, for appreciation of deposits given to landlords meant to be given back to tenants, is based on a 2004 city law.
The city offers renters support to answer lease questions and for landlord-tenant issues through the Community Mediation Service at 303-441-4364.
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January 03, 2020 at 05:50AM
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Boulder lowers rental tenant security deposit interest rate for 2020 - Boulder Daily Camera
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