Lower rate on security deposit discussed for Boulder renters

BOULDER — Sheila Horton owns a couple of eight-unit apartment buildings. When a University of Colorado student rented an apartment from her, the girl’s father read the lease and told Horton he had a proposition — take his $40,000 individual retirement account as a security deposit. That’s because, at a time when interest rates on even so-called ?high yield? money market accounts are hovering around 2 percent, Boulder landlords are required by a city ordinance to pay tenants 5.5 percent interest on security deposits.

Horton, executive director of the Boulder County Apartment Association, turned the man down, but laughs every time…