I’m : a programmer, writer, podcaster, geek, and coffee enthusiast.

Thanks, Keystone Realty Associates!

By New York State law, landlords are required to pay annual interest to people on their security deposits. My security deposit was slightly over $2500.

I got $0.18 for 2006’s interest. (Yes, they actually sent an 18-cent check.) Granted, they only had it for 6 months, not the full year… but still, how exactly is this money invested? That’s a 0.0072% interest rate. Even assuming that they want too much flexibility and too little risk for a CD, the absolute worst bank savings account they could find would have yielded at least 1.5%.

This year, I got a check for $2.00. That’s a huge improvement! 0.08%! (…for the whole year.)

Of course, any idiot could have bought a 1-year CD instead, which offered about 5% when I renewed my lease. That would have given me $125 every June.

I have no idea how this is invested… what money-holding method pays interest at all, but at such low rates?

Thanks Keystone Realty Associates!