The City of Boulder is reviewing a request from the Boulder County Apartment Association to re-evaluate the interest requirements on security deposits from tenants.
The BCAA is working on a formal proposal which recommends changing the current rule which requires payment of 5.5% interest.
The proposal would set an interest requirement yearly based upon the fixed rate of interest on the first working day of the year.
This is a major issue with the BCAA and they are working hard to make the interest payment more equitable to water would be earned in a bank account.
