Direct Answer
Under the Rental Housing Act, your landlord must invest your rental deposit in an interest-bearing account for the duration of the lease. Within 14 days of the lease ending, they must return the deposit plus interest — or provide a written account of any deductions. Unlawful retention of a deposit entitles you to two times the deposit amount as a penalty.
What the Law Says
Your Legal Foundation
Rental Housing Act 50 of 1999
Section 5(3)(c)
“The landlord must invest the deposit in an interest-bearing account with a financial institution for the duration of the lease and must provide the tenant with written proof of the investment within 14 days of payment.”
Rental Housing Act 50 of 1999
Section 5(3)(f)
“On termination of the lease, the landlord must refund the deposit plus interest, less any amounts lawfully owed, within 14 days of restoration of the property.”
Consumer Protection Act 68 of 2008
Section 5
“Applies to landlords renting more than one property — deposit disputes may also be referred to the National Consumer Commission.”
Common Questions
Frequently Asked Questions
Can my landlord keep my deposit for cleaning?
Only if cleaning was not done and the lease provides for deductions for this, and only for the actual cost. The landlord must provide receipts or invoices for any deductions. Deductions cannot exceed the actual cost and must be supported by a joint exit inspection.
What interest rate applies to my deposit?
The Act does not specify a rate — it must be in an "interest-bearing account" with a financial institution. The landlord must provide you with proof of the account and the interest earned. If they cannot, the entire deposit is repayable without deductions.
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