Not legal advice. This is a free reference compiled from official government sources. Laws change and local details matter. Confirm every deadline with the official source or a licensed attorney before you rely on it.
Last verified: · Confidence: medium
Do landlords have to pay interest on security deposits in Ohio, and when is it due?
Short answer
5% yearly interest on the part of a deposit above $50 or one month's rent (whichever is greater), for tenancies of 6+ months; pay annually
Payment timing: Once a year (no date in the statute; the calendar uses the lease anniversary, computed)
If the deposit is larger than $50 or one month's rent, whichever is greater, and the tenant stays 6 months or more, pay 5% per year interest on the excess, computed and paid to the tenant every year.
"Any security deposit in excess of fifty dollars or one month's periodic rent, whichever is greater, shall bear interest on the excess at the rate of five per cent per annum if the tenant remains in possession of the premises for six months or more, and shall be computed and paid annually by the landlord to the tenant." codes.ohio.gov
5% yearly interest on the part of a deposit above $50 or one month's rent (whichever is greater), for tenancies of 6+ months; pay annually Verified
Deadline: Once a year (no date in the statute; the calendar uses the lease anniversary, computed)
If the deposit is larger than $50 or one month's rent, whichever is greater, and the tenant stays 6 months or more, pay 5% per year interest on the excess, computed and paid to the tenant every year.
Who it covers: Interest is owed only on the excess over the greater of $50 or one month's periodic rent. A deposit of one month's rent or less earns no statutory interest.
"Any security deposit in excess of fifty dollars or one month's periodic rent, whichever is greater, shall bear interest on the excess at the rate of five per cent per annum if the tenant remains in possession of the premises for six months or more, and shall be computed and paid annually by the landlord to the tenant." codes.ohio.gov
Notes: ORC 5321.16(A). The statute says 'annually' without fixing a date; the calendar uses the lease anniversary as a reasonable schedule (computed).
Last verified 2026-10-20 · Confidence: medium · Status: verified · Report a correction