Small Property Owners v. City & County of San Francisco, 47 Cal. Rptr. 3d 121 (2006)

Citation: Small Property Owners v. City & County of San Francisco, 47 Cal. Rptr. 3d 121 (2006)
Parent Document: Small Property Owners v. City & County of San Francisco, 47 Cal. Rptr. 3d 121 (2006)
Jurisdiction: California (state)
Effective Date: 2006-08-09
Original Source: https://www.courtlistener.com/opinion/2255746/small-property-owners-v-city-co... ↗

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The Ordinance did not require landlords to hold the security deposits in any particular type of account. To the contrary, section 49.2, subdivision (d) of the San Francisco Administrative Code stated: “ ‘Nothing in this Chapter shall preclude a landlord from exercising his or her discretion in investing security deposits.’ ” According to a declaration submitted by appellants’ economics expert, however, the “relatively small sums of money typically involved in residential rental security deposits, together with provisions of the City’s Administrative Code and provisions of California [s]tate law [requiring prompt return of the deposit to a vacating tenant], effectively limit a prudent small property owner’s options for investing residential rental security deposits to deposit accounts and money market funds whose proceeds generally are available on demand.”

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