Interest on deposit
I have lodged a deposit with the TDS insurance scheme and it mentions interest being paid on the deposit to the tenant or landlord. I am assuming it should be to the tenant and am happy to tick this box but my question is when do they get any interest paid (presuming at the end of the tenancy) and what should the interest rate be (guessing it is the amount on the account it is lodged in which in this case is very low)? I just want to clear this up before I send the info to the tenant.
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