What does MGL c. 186 § 15B(3)(a) - 5% annual interest or actual bank rate required mean for Massachusetts tenants?
This section governs interest on deposits and should be cited when disputing wrongful withholding under Massachusetts law.
MGL c. 186 § 15B(3)(a) - 5% annual interest or actual bank rate required: Massachusetts statute explainer
Plain-English explanation of interest on deposits with actionable next steps.
Deadline context
30 days
Penalty context
3x damages
How to use this statute in your case
- Capture all dates and documents tied to this statutory requirement.
- Use the statute language verbatim in your written demand.
- Escalate with organized evidence if the landlord does not cure.
Frequently asked questions
Quick answers to the questions renters usually have before citing this statute in a demand letter or court filing.
How long does a Massachusetts landlord have to return the deposit?
30 days after termination of occupancy (30 days).
What penalties can apply if my landlord violates MGL c. 186 § 15B(3)(a) - 5% annual interest or actual bank rate required?
3x deposit + interest + attorney fees + court costs.
Next steps
Turn this citation into an actionable demand and timeline.