Has anyone ever received an "interest check" from the property management company at your apartment building? I received a check for $.35 and I am really confused. The property management offices are closed this weekend but I plan to call on Monday. I mean sure I'll take these few pennies but also can't help but think what is the catch here lol these luxury bldgs usually take my money -not give me money.

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Yes; it’s usually because they have to put your security deposit in an interest bearing account in your name

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Thanks!

Yes - all property cos store your deposit in an account that gains interest.

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@SC1, landlords can keep the first 1% in interest, and considering interest rates on a checking/savings account are sub 1%, getting anything is lucky.

Yes, you’re typically supposed to receive them in January as they close out their year-end or when management changes and the new management company transfers the deposits to their own bank accounts.

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